Agency
When does an agency relationship most commonly terminate in Iowa?
AWhen the listing agreement expires or the transaction closes✓ Correct
BOnly when the client sends written notice of termination
CAfter the property has been shown three times without an offer
DWhen the agent takes a vacation
Explanation
An agency relationship in Iowa typically terminates upon expiration of the listing or buyer agency agreement, completion of the transaction (closing), mutual agreement, impossibility of performance, death or incapacity of a party, or revocation.
Related Iowa Agency Questions
- Which of the following is an example of an express agency relationship?
- An Iowa buyer's agent who fails to present an offer that was not in writing to the seller:
- When an Iowa salesperson leaves their employing broker without giving notice, the employing broker may:
- An Iowa licensee who represents a seller but deals honestly and fairly with an unrepresented buyer is acting as:
- In Iowa, if a buyer's offer is rejected by the seller, the seller's agent must:
- A 'designated agency' arrangement in Iowa means:
- Iowa's buyer's agent must inform the buyer of which material fact if discovered during the agency?
- Iowa's seller disclosure law requires a seller to complete which document before listing a residential property?
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