Agency
A Vermont licensee who is also a principal in a transaction (buying property for themselves through their own listing) must:
AKeep their licensee status secret from the seller
BDisclose their licensed status and any personal financial interest to the other party✓ Correct
CAutomatically reduce the commission to zero
DObtain VREC special authorization
Explanation
Vermont license law requires licensees who are personally buying or selling real estate to disclose their licensed status to the other party. This prevents conflicts of interest from being hidden and ensures the other party understands they are dealing with a licensed real estate professional.
Related Vermont Agency Questions
- Vermont's 'apparent authority' in real estate agency means that:
- A Vermont buyer's agent must exercise which skill when advising a client on making an offer price?
- A Vermont real estate broker who enters into a 'co-brokerage' agreement with another broker to cooperate on a sale shares their commission because:
- A Vermont agent receives two offers simultaneously on a listed property. Their duty to the seller is to:
- Vermont's requirement for broker supervision means the principal broker must:
- When a Vermont licensee changes from representing the seller to representing the buyer in the same transaction, they must:
- Vermont's 'price opinion' (broker price opinion or BPO) is used primarily by:
- If a Vermont real estate agent is representing a buyer and the buyer discloses their maximum purchase price, the agent should:
Practice More Vermont Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Vermont Quiz →