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When a salesperson makes a misrepresentation of a fact the salesperson is liable only?
When a salesperson makes a misrepresentation of a fact, the salesperson is liable only: When the statement is a material fact. A real estate broker may recover a commission in all of the following cases EXCEPT: While holding an inactive license.
Whose job is it to act as a middleman in a transaction?
Key Takeaways. A middleman is a broker, go-between, or intermediary to a process or transaction. An intermediary will earn a fee or commission in return for services rendered in matching buyers and sellers. Many industries and business sectors utilize middlemen, from trade and commerce to wholesalers to stockbrokers.
Which of the following represent an agent's fiduciary responsibilities?
Fiduciary duties include, among others, loyalty; confidentiality; the exercise of utmost care (and in certain fact situations, reasonable care); full and complete disclosure of all material facts; the obligation to account to the principal; the obligation to act fairly and honestly and without fraud or deceit; and the ...
Which of the following is a fiduciary duty required of a real estate salesperson?
Fiduciary duty in real estate requires realtors to act in the best interests of their clients. This includes disclosing any conflicts of interest and negotiating in good faith. Fiduciary duty in real estate consists of six parts: obedience, loyalty, disclosure, confidentiality, accounting, and reasonable care.