Agency Relationship Disclosure Act of 1988 Real Estate License Exam Study Guide AgentExamPass.com скачать в хорошем качестве

Agency Relationship Disclosure Act of 1988 Real Estate License Exam Study Guide AgentExamPass.com

Agency Relationship Disclosure Act of 1988 required written, disclose, elect, confirm agency contract The Agency Relationship Disclosure Act of 1988 was in response to sellers and buyers of real estate who felt that they had not been made to clearly understand the agency relationship involved in selling real estate through a broker. The law requires a written agency agreement which includes a disclose, elect and confirm (DEC) process of agency agreement. To disclose is to explain what agency is and that a potential conflict of interest exists in an agent representing both seller and buyer (called a dual agent). The seller (or buyer) gets to next elect which agency he or she wants. Lastly the seller (or buyer) gets to elect what type of agency he or she wants and sign the written document. This process is what is required by the Agency Relationship Disclosure Act of 1988. Multiple Choice Question Agency Relationship Disclosure Act of 1988 A state law regarding advertising agencies B flood with a 100 year probability of occurring C required written, disclose, elect, confirm agency contract D agency is seller’s choice and most know what that means Correct Answer: c If you would like to suggest corrections to this word, email us at vocabubee@gmail.com. Thank you. This word appears in the book Vocab-U-Bee California CA Real Estate License Exam Top Pass Words Find links to all our playlists at VocabUBee.com Vocab-U-Bee Values: Consistency First, One Small Step Each Day and the 42 Bee March Thank You! and Good Luck!