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10 Cards in this Set
- Front
- Back
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Agent
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One who acts or has the power to act for another. A fiduciary relationship is created under the law of agency when a property owner, as the principal, executes a listing agreement or management contract authorizing a real estate broker to be his or her agent.
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Antitrust laws
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Laws designed to preserve the free enterprise of the open marketplace by making illegal certain private conspiracies and combinations formed to minimize competition. Most violations of antitrust laws in the real estate business involve either price-fixing or allocation of customers or markets.
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Broker
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One who acts as an intermediary on behalf of others for a fee or commission.
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Buyer-Brokers
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A broker who has entered into a buyer agency agreement with a buyer.
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Commingling
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The illegal act by a real estate broker of placing client or customer funds with personal funds. By law brokers are required to maintain a separate trust account for other parties' funds held temporarily by the broker.
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Agent
|
One who acts or has the power to act for another. A fiduciary relationship is created under the law of agency when a property owner, as the principal, executes a listing agreement or management contract authorizing a real estate broker to be his or her agent.
|
|
|
Antitrust laws
|
Laws designed to preserve the free enterprise of the open marketplace by making illegal certain private conspiracies and combinations formed to minimize competition. Most violations of antitrust laws in the real estate business involve either price-fixing or allocation of customers or markets.
|
|
|
Broker
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One who acts as an intermediary on behalf of others for a fee or commission.
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Buyer-Brokers
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A broker who has entered into a buyer agency agreement with a buyer.
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|
|
Commingling
|
The illegal act by a real estate broker of placing client or customer funds with personal funds. By law brokers are required to maintain a separate trust account for other parties' funds held temporarily by the broker.
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