RELC Mon 1/6 ( 2,3)

Law of agency

Obedience
Loyalty
Disclosure
Confidentiality
Accountability
Reasonable care

Seller  (4.5)	Buyer (2.5)
Customer/client	customer	Client
Broker Agent/ Seller agent	Sub agent Broker agent	Buyer agent

 

$350, 00 Fine and panties to discuss other party’s commission

RESPA - 1974
General - specific
special agent ("Shaken, not stirred")

Fiduciary

RESPA 1974

Fraud and misrepresentation

Duties of the seller’s agent

Duties of the buyer’s agent

Vicarious liability

Compensation

When is commission earned?

Meeting of the minds occur

Compensation for other sources – referral fees

Capital District (Albany, Columbia, Greene, Warren, Washington, Saratoga, Schenectady, Rennselaer)

Why NOT answer c in Quiz 4:

	Why Not		Why Not
1. c		6.c
2.d		7.d
3.b		8.d
4.d		9.a
5.a		10.d

Educate them to decide
Pre approved vs pre qualify
talk to tax accounting

3 Vendors list
- attorneies
- mortgage
- inspector
- pet controls 

Client/ Principal The party whom the agent contractually represents

Customer A third party to the transaction that an agent work with, but not for