Why is it possible for buyers and sellers to fail to understand who represents each of them quizlet?

hearsay conversation.

Documentary material "includes the original or a copy of any book, record, report, memorandum, paper, communication, tabulation, map, chart, photograph, mechanical transcription, or other tangible document or recording, wherever situated."

Tortious interference.

Once under contract with a buyer, the seller retains actual title to the property until closing, to include all rights of ownership (possession, control, enjoyment, and disposition).

Until closing, however, the buyer has what is called equitable title; that is, the right to have the property transferred to the buyer once all conditions of the contract are fulfilled. The parties should proceed carefully, because contract law provides that the first buyer may have legal recourse if a second contract interferes with the first buyer's contract rights—called tortious (i.e., civil) interference with a contract. The seller should, therefore, not entertain backup offers once under contract to a buyer without first gaining consent of the buyer to ensure that the buyer does not perceive such showings as "tortious" interference with the buyer's right to buy. If the licensee uses the TREC-promulgated contract forms, this contingency is addressed by contractually reserving the seller's right to continue to show the property and accept backup offers while under contract with the first buyer.

Nick is looking for a home and calls Anna at Acme Real Estate Agency to inquire about several properties he saw online. Anna mentions that she represents ACME Real Estate Company and its clients. She also takes Nick's contact information and asks in-depth questions about his needs and wants. Nick states that one of the most important considerations for him is that the home is in a neighborhood that has the highest likelihood of increasing in value. Anna advises Nick about several neighborhoods and recommends some properties that she thinks might be just right for him. She also sends Nick an email with some details about each of the homes. Anna then asks Nick if he would like to schedule an appointment with her to view the properties, and he agrees.

1. What did Anna do that could expose her and her broker to liability?

(a) She shared property details with Nick before he signed the Buyer/Tenant Representation Agreement.
(b) She scheduled an appointment with Nick to view properties.
(c) She did not provide him with the Information About Brokerage Service (IABS) form before discussing Nick's wants and needs.
(d) None of these are correct.

2. When Anna meets Nick for the appointment, she spends a few minutes discussing representation and explains the advantages of allowing her to represent him in the purchase of a home. Nick agrees that she should represent him, but he states that he will not sign the Residential Buyer/Tenant Representation Agreement. He prefers an oral agreement and states that he has always been true to his word. What is one of the most important facts for Anna to consider about entering into an oral agreement?

(a) She might not get paid.
(b) It is against the law for her to represent Nick under an oral agreement.
(c) She will not have to worry about intermediary problems when showing any of the listings on the MLS since she would be representing the buyer.
(d) Since it is an oral agreement, she will not have to disclose compensation.

3.What course of action can be taken if Anna works very hard to find Nick a home, and then he uses a different license holder to submit the contract and buy the home?

(a) The broker may file suit for commission.
(b) Anna may file suit for commission.
(c) The listing broker may file suit for commission.
(d) No one may file suit for commission since they did not have a signed agreement to establish agency.

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