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15 Cards in this Set
- Front
- Back
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If information about a piece of property can help or harm your client in any way, it must be ________. |
Disclosed |
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_____________ requires agents to follow the instructions of their principal. |
Obedience |
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_________ means an agent puts the needs of his or her client above anyone else’s, including his or her own. |
Loyalty |
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_________ requires agents to be honest and fair with their clients and customers, including financially. |
Honest and Fair dealing |
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_________ requires agents to use their expertise to help the customer, as long as there is no conflict of interest for their client. |
Reasonable Care |
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_________ requires agents to properly explain the details of the property to the best of their knowledge, as required by state laws. |
Disclosure of material facts |
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__________ are problems with the property that are not discovered in a general inspection. |
Latent Defects |
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_________ are problems with the property that are discovered in a general inspection and must be disclosed. |
Material Defects |
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___________ properties have had events occur that may make the property less desirable. |
Stigmatized (Stigmatized properties may have had a murder, or suicide on premises, but can include haunted houses and more, depending on state laws.) |
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__________ Law requires that sex offenders living nearby be disclosed. |
Megan’s |
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___________ is exaggerating the virtues or benefits of a piece of property. |
Puffing |
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When agents intentionally misrepresent a piece or property in order to sell it, they are committing ______________. |
Fraud |
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___________ misrepresentation is when an agent doesn’t know something about a piece of property, but should have known it. |
Negligent |
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In most real estate buyer arrangements, you will be paid by the ____________. |
Seller |
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In most real estate seller agency arrangements, you will be paid by the ______________. |
Seller |
