Episode 098 - Real Estate Exam Questions: Agency

Going through state exam questions to help real estate students pass their state exam.

 

01:00 – January: Happy New Year! Think outside the box and try to understand other perspectives.

03:55 – List of recent grads: Jessica, April, Janeva, Martina, Elishia, Naomi, Christina, Mathew, Marie, Sophia, Loren, Brandi, Eric, Dominique, Jordan, Mark, David, Isamar, Kyle, Raven, Whitney, Mandy, Albert, Maggie, Janice, Alisia, Anissa, Claudia, Phillip, Elmer, Layton, Maxwell, Dillon, Alayna, Angela, Prabjeet, and Cullen.

05:20 – Message from Jessica.

07:15 – Episode Focus: agency

08:00 – The parties involved in agency: agent, principal (client), and customer.

13:00 – Creating agency: express agency and implied agency; compensation does not affect agency.

19:05 – Fiduciary responsibilities: COLD AC or OLD CAR; care (reasonable care), obedience, loyalty, disclosure, accounting, and confidentiality.

31:10 – Single agency versus dual agency (limited agency); requires informed consent.

35:10 – Designated agency, in house transaction.

37:40 – Customer – don’t help but don’t hurt. Do not provide service or assist them. Be cautious with unintended actions or words.

39:10 – Puffing, fraud, and negligent representation.

44:25 – Contract law exam questions.

1:09:30 – February’s episode will be about leasing of real estate: types of leases, rights of landlord and tenant, eviction, and more.

 

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Go to www.indianarealestateinstitute.com for Indiana real estate classes.

 

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