Agency
At what point does a Vermont agency relationship between a broker and seller typically terminate?
AOnly when the VREC approves termination
BUpon closing, expiration of the listing period, mutual agreement, death of either party, property destruction, or proper termination notice✓ Correct
COnly when a buyer is found
DAfter the deed is recorded
Explanation
A Vermont agency relationship terminates upon any of several events: successful closing, expiration of the listing agreement, mutual consent, death or incapacity of either party, destruction of the property, or proper termination in accordance with the agreement's terms.
Related Vermont Agency Questions
- Which of the following actions by a Vermont buyer's agent would constitute 'negligent misrepresentation'?
- Vermont licensees must keep accurate transaction records for at least:
- Which of the following statements about sub-agency is TRUE in Vermont?
- A Vermont buyer's agent arranges a showing of a property listed by another broker. At the showing, the buyer's agent notices the deck appears structurally unsound. The buyer's agent should:
- A Vermont buyer's agent secures a property for their buyer client. After closing, the agent receives a gift from the seller as a thank-you. The agent should:
- Vermont's principle of 'informed consent' for dual agency means both buyer and seller must:
- Vermont's 'seller's concession' is when the seller agrees to:
- Which of the following would NOT terminate an agency agreement in Vermont?
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