Agency
In Pennsylvania, the Consumer Notice must be signed by the prospective buyer or seller to indicate that they:
AHave agreed to enter into an agency relationship with the licensee
BAcknowledge receipt of the notice and understand the available agency options✓ Correct
CHave agreed to pay a specific commission rate
DWaive their right to be represented by an attorney
Explanation
The Consumer Notice signature confirms that the consumer has received and reviewed the notice explaining the different types of agency relationships. It does not create an agency relationship — it is an acknowledgment of receipt and understanding.
Related Pennsylvania Agency Questions
- A Pennsylvania licensee who receives compensation from more than one party to a transaction must:
- A transaction licensee in Pennsylvania:
- Agency by estoppel is created when:
- A buyer's agent discovers that the property has a material defect not disclosed by the seller. The agent should:
- The fiduciary duty of 'loyalty' in a buyer agency relationship requires the agent to:
- In Pennsylvania, 'transaction licensee' status means the licensee:
- In Pennsylvania, a 'Consumer Notice' is best described as:
- In Pennsylvania, a transaction licensee (facilitator) owes which of the following duties?
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