Agency
What is the 'termination of agency by mutual agreement' in Kansas real estate?
AThe agency terminates when one party decides to end it without notice
BBoth the principal and agent agree to cancel the agency relationship before the original term expires; all parties should sign a written termination agreement✓ Correct
CThe agency terminates when the property is listed on the MLS
DMutual agreement is required only for buyer's agency, not listing agreements
Explanation
When both the principal (client) and the agent mutually agree to end their agency relationship before the original contract term expires, the agency terminates by mutual agreement. A written termination agreement protects both parties and should clearly state the termination date and any compensation obligations.
Related Kansas Agency Questions
- In Kansas, what is an agent's duty of 'reasonable care and diligence'?
- A Kansas buyer's agent who discovers after contract execution that the listing agent is related to the seller must:
- Under Kansas law, a cooperating broker in a transaction acts as a subagent of the listing broker unless:
- In Kansas, what must a broker do when their client instructs them to do something unethical but not illegal?
- What must a Kansas dual agency disclosure include?
- A Kansas agent who 'flips' a contract by buying property at a low price and immediately reselling to a client at an inflated price without disclosing the profit is engaging in:
- In Kansas, what is 'gratuitous agency' in real estate?
- What is 'ministerial acts' exception in Kansas agency law?
Practice More Kansas Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Kansas Quiz →