Save
Busy. Please wait.
Log in with Clever
or
show password
Forgot Password?
Don't have an account?  Sign up 
Sign up using Clever
or
Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account. Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't Know
Remaining cards (0)
Know
0:00
edit
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Chapter 1

Agency Relationships

QuestionAnswer
A relationship in which one person acts for or represents another. Agency
A person who is authorized by another to act on their behalf. Agent
One who for another, and for a commission, money, or other thing of value, promotes the sale, exchange, purchase, option, rental or leasing of real estate or business opportunities Broker
The business of bringing buyers and sellers together in the marketplace. Brokerage
The sale or lease of the business and good will of an existing business, enterprise, or opportunity, including a sale of the majority of assets or stocks of the business. Business Sales
The actual person, within the firm representing the buyer, that procured the buyer. Buyer's Agent
The firm that has entered into a buyer agency agreement with the buyer indication that the broker will be representing the interests of the buyer. Buyer's Broker
The person who employs an agent to perform a service on their behalf. Client
A broker, who works in conjunction with another broker in procuring a buyer for the seller’s property. Cooperation Broker
A person who receives services given on behalf of and for the benefit of a client. Customer
Receiving compensation related to the real estate transaction from someone other that the licensee’s client without prior written consent from all parties to the transaction. Dual Compensation
A way to deer capital games tax by exchanging like property for like property. Exchange
One placed in a position of trust and confidence, normally responsible for the money and/or property of another. Fiduciary
The body of law that determines the rights and duties owed by an agent to a principal. Laws of Agency
A term used by the DSPS to refer to any person licensed or registered under state law to practice real estate. Licensee
An individual employed by the listing broker who actually secured the business for the listing firm. Listing Agent
The firm that the seller has employed under a listing contract. Listing Broker
An Adverse fact that a party indicates is of such significance, or that is generally recognized by a competent licensee as being of such significance to a reasonable party, that it affects the party’s decision Material Adverse Fact
An agent representing two principals in one transaction. Multiptle Representation Relationship
Showings of real estate open for public viewing Open House
Any fact that is relevant to a person making a decision. Agents must disclose all material facts to their clients. Material Fact
An agreement to keep open for a set period of time an offer to sell or lease real property. Option to Purchase
The purchaser under an option contract Optionee
The seller under an option contract. Optionor
Presumptive evidence that a broker’s license is required because one has participated in five sales in one year or 10 sales in five years. Pattern of Sales
Any person other than a broker who is employed by a broker to preform any act authorized by chapter 452 to be performed by a broker. Salesperson
The individual person that is working with the buyer as a customer. Selling Agent
The firm, representing the seller, which procured the buyer for a seller. Selling Broker
The practice of representing either the buyer or the seller but never both in the same transaction. Single Agency
An agent who works under another agent. Subagent
Selling one product only if the buyer agrees to purchase another product as well. Tie-In Agreement
Person who assists a licensee, who is not licensed under chapter 452 or licensed but not employed for the purpose of providing services for which a license is required. Unlicensed Personal Assistant
Created by: lisahale782006
Popular Real Estate sets

 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
Retries:
restart all cards