Agency
In South Dakota, the termination of an agency relationship between a seller and listing broker can occur by:
AOnly expiration of the listing agreement
BExpiration, completion of purpose, mutual agreement, revocation by the seller, renunciation by the broker, or operation of law (death/incapacity)✓ Correct
COnly completion of the real estate sale
DOnly by order of the Real Estate Commission
Explanation
Agency relationships can terminate in multiple ways: the natural expiration of the agreement, completion of the purpose (the property sells), mutual agreement to terminate, revocation by the principal, renunciation by the agent, or automatic termination by operation of law (death, incapacity, or destruction of the subject property).
Related South Dakota Agency Questions
- In South Dakota, the term 'single agency' in real estate practice means:
- Which of the following is a fiduciary duty owed by a South Dakota seller's agent to their client?
- Which type of agency relationship is created when an agent acts on behalf of a client without explicit agreement but through the parties' conduct?
- In South Dakota, an agent's 'duty of obedience' requires them to:
- In South Dakota, which of the following is a 'material adverse fact' that must be disclosed by an agent regardless of which party they represent?
- A South Dakota agent who recommends a home inspector they have a financial relationship with must:
- A buyer's agent in South Dakota owes which duty to the seller?
- In South Dakota, 'subagency' allows a cooperating broker to act as:
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