Real Estate Principles Final Exam Questions and Answers

Real Estate Principles Final Exam Agent the party authorized to conduct business on the principal's behalf Agency a legal relationship between a principal and an agent Blockbusting the illegal practice of encouraging property owners to sell their homes when minorities begin moving into an area Broker an intermediary who brings together buyers and sellers, assists in negotiating agreements between them, executes their orders, and receives compensation for services rendered Buyer Representation Agreement the legal agreement between a buyer and a broker hired to represent the buyer's interest Buyer's Agent a broker who is legally obligated to represent a buyer's interest Commission Agreement an agreement between a seller and broker for the payment of a commission if the broker is successful in locating a buyer for the seller's property