Check Your Understanding Answers
- What gives consumers the idea that real estate professionals have a high level of expertise in real estate?
The state requires them to be licensed.
- These days, how do consumers often view a home purchase?
As an investment
- In a home sale involving 2 licensees, absent a buyer representation agreement, who do the brokers represent?
Contrary to what the buyer may think, absent a buyer representation agreement, both the listing broker and the selling broker represent the seller.
- What is the primary reason that you need to have a clear understanding of agency concepts?
Because of the increased interest in litigation
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