Agency
Iowa's agency representation agreement with a buyer may be terminated by:
AOnly the broker at their sole discretion
BMutual agreement of the parties, expiration of the agreement's term, or for cause as specified in the agreement✓ Correct
CThe buyer sending a text message to the agent
DAutomatically when the buyer views 10 properties
Explanation
A buyer representation agreement may be terminated by mutual consent of both parties, expiration of the specified term, completion of the representation purpose, or for cause as defined in the agreement. Unilateral termination without cause may expose the terminating party to liability.
Related Iowa Agency Questions
- Under Iowa law, an agent may act as a dual agent representing both the buyer and seller if:
- In Iowa, which document must be provided to a buyer at first substantive contact with a buyer's agent?
- What is a designated agency in Iowa?
- An agent's duty to disclose material facts applies to:
- An agent discloses to the buyer that the seller is going through a divorce and must sell quickly. This is a violation of which fiduciary duty?
- The fiduciary duty of 'obedience' requires a licensee to:
- A seller's agent who learns that the buyer cannot qualify for a larger mortgage should:
- In Iowa, can a broker pay a referral fee to an unlicensed individual who refers a client?
Practice More Iowa Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Iowa Quiz →