Urban Exam - Brokerage 2

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An ____________________________ listing is a written agree-
EXCLUSIVE RIGHT OR AUTHORITY TO SELL,
ment between the _____________ and _____________ giving
buyer,
the later the right to collect a commission if the property is sold by
seller
anyone during the term of his agreement.
With _______________________ in the authority to sell, the bro-
ker is still entitled to the commission even if he closed the sale after
HOLDOVER CLAUSE
the period of his authority, by registering in writing the prospective
buyer to the seller.
If there are many sellers in a particular area as against very few
BUYER'S MARKET
buyers, this situation is called __________.
______________________ is the act of the broker who is instru-
mental in effecting the meeting of minds between the seller and
PROCURING CAUSE
the buyer as to price and terms and is one of the requisites for
entitlement to commission.
A stipulation in an authority to sell that entitles the broker to
commission even beyond the period of his authority if he had
registered his buyer to his principal before the expiry date of his
authority.
-
HOLD OVER CLAUSE
(A. Open, non-exclusive listing
B. Authority to overprice
C. Hold over clause
D. Exclusive agency agreement
E. "First come, first served" rule)
The act of the broker who is instrumental in effecting the meeting
of minds between the seller and the buyer as to price and terms
and is one of the requisites for entitlement to commission.
-
PROCURING CAUSE (A. Procuring cause
B. Acceptance of earnest money
C. Conformity to listing authority
D. Exclusive right to sell
E. Hold-over clause)
An agreement between an owner and a broker to sell a real estate
property is called:

(a. Authorization
LISTING
b. Listing
c. Joint Venture
d. Power of Attorney
e. none of the above)
Which type of broker's accreditation that clearly states the pro-
motion and selling of projects by a developer on an exclusive
arrangement?
-
EXCLUSIVE AGENCY (A. Exchange Agency
B. Procurement Agency
C. Exclusive Agency
D. Purchase Agency
E. Listing Agency)
A sale cannot be extinguished by:

(A. Transfer of residence of principal or agent

B. Expiration of the authority
TRANSFER OF RESIDENCE OF PRINCIPAL OR AGENT
C. Revocation by the principal of the agency
D. Death, insanity, civil interdiction or insolvency of principal or
agent
E. Accomplishment of the purpose)

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 Urban Exam - Brokerage 2
Study online at https://quizlet.com/_1zez7q
A PERSON WHO IS IN NEED AND CAN AFFORD TO BUY
THERE ARE MANY SELLERS IN A PARTICULAR AREA AS
AGAINST VERY FEW BUYERS
EXCHANGE AGENCY
HOLD-OVER CLAUSE
FIDUCIARY RELATIONSHIP
EXCLUSIVE RIGHT TO SELL LISTING
PRINCIPAL
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What is a prospect?
(A. A person who has the capacity but without the willingness
B. A person who has the interest to buy in the future
C. A person who has the willingness but does not have the capacity
D. A person who is in need and can afford to buy
E. A person who is willing to buy but not immediately available)
Which of the following describes a buyer's market?
(a) There are many sellers in a particular area as against very few
buyers.
b) There are many properties for sale in a particular area but many
just want to rent.
c) There are few properties for sale in a particular area and very
many buyers.
d) There are few properties for sale in a particular area and also
very few buyers.)
In authority given by a developer to a broker to fund a supplier for
cement and aggregates materials wherein payment shall be in the
form of units or developed lot, the contract is:
-
(A. Exchange agency
B. Sales agency
C. Procurement agency
D. Purchase agency)
A provision in listing which entitle the broker to the commission
even if he closed the sale after the period of his authority provided
the sale is to a buyer whom the broker registered in writing to the
seller and with whom he has negotiated during the period of his
listing.
-
(A. Authority to sell
B. Hold-over clause
C. Extension of authority
D. Broker's Agreement
E. None of the above)
The position of trust assumed by the broker as an agent for the
principal is most accurately described as:
(A. trustee relationship
B. trustor relationship
C. confidential relationship
D. fiduciary relationship
E. none of the above)
The type of listing that gives the real estate broker the greatest
protection:
(A. Exclusive Agency Listing
B. Net Listing
C. Exclusive Right to Sell Listing
D. Multiple Listing
E. Open Listing)
In the real estate business another term for the owner is
(A. Customer
B. prospect
C. principal
D. alter ego
E. none of the above)
 Urban Exam - Brokerage 2
Study online at https://quizlet.com/_1zez7q
The best protection for a real estate broker when getting an
authority for listing is:

EXCLUSIVE RIGHT TO SELL (A. Exclusive agency contract

B. Exclusive right to sell
C. Percentage listing
D. Net listing)
The commission rate for the sale of real estate by a real estate
broker is determined by:
NEGOTIATION AND AGREEMENT BETWEEN SELLER AND
(A. standard rate approved and adopted by the brokers in a locality
THE BROKER
B. fixed schedule of commissions approved by BTRCP
C. discretion of the seller.
D. negotiation and agreement between seller and the broker)

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