Obedience
Loyalty
Disclosure
Confidentiality
Accountability
Reasonable care
Seller (4.5)
|
Buyer (2.5)
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Customer/client
|
customer
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Client
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Broker Agent/ Seller agent
|
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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
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| 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 |
