Check Your Understanding Answers
- A general agency exists between the broker and the salesperson. If the salesperson violates the licensing act, who besides the salesperson would also be held responsible?
The salesperson’s broker would also be held responsible for the violation.
- If a licensee leaves his or her broker, how many listing agreements and buyer agency agreements is the salesperson allowed to take to the next broker?
Because the broker owns all agency agreements, the salesperson would not be allowed to take any of these agreements to the next broker.
- If a broker has a multitude of tasks to perform for a client, the broker would be considered which type of agent?
In this situation, the broker would be a general agent.
- Name the three components of written agreements that create agency.
They are clear, concise, and understandable.
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