Chapter 8 agency contracts and related practices Flashcards Preview

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Flashcards in Chapter 8 agency contracts and related practices Deck (11):
1

North Carolina listing agreement requires?

Be signed by all parties and include licensees number with a definite period time and it must be in writing

2

Open listing

Pay only the broker who brings the buyer and you can have multiple brokers but this is rarely used

3

Exclusive agency listing

Pace if any broker find the bar you sometimes for sale by owner

4

Exclusive rights To sell listing

Paige regardless of who sells the property this is the most common

5

Commission

All monies must pass through the firm

Never A fixed percent

6

What is procuring cause?

It means you were involved in an unbroken chain events that cause the cell to happen and you get a commission and it must be in writing

7

What things terminate a lease

Completion of the agreement or expiration of terms, mutual agreement or breach of contract, bankruptcy or distraction of property or death of client

8

Who Deaths terminate what?

Death of a property terminates listing, death of seller terminate the listing, death of the firm terminate the listing, but death of the licensee does not

9

Do not call rule

In state and federal must check every 31 days at the registry

It’s OK to call if a business relationship Of the 18 months or three months after consumer inquiries

10

What is the Sherman antitrust act

No price fixing or unfair competitive practices in boycotting

11

The advertisements require?

All advertises require bic or firm approval name of bic or firm