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Instructor: John Henderson
Module 2 – Self-Assessment Review
(We suggest printing this page as a study guide for the final exam)
The minimum legal requirements of real estate agent’s duties are set by:
National Association of Realtors
The agent’s broker
Local real estate boards
Correct Answer: Michigan Legislature
The Michigan Legislature allows for some agent duties to be waived EXCEPT:
Perform the terms of the service provision agreement.
Accept, deliver and present offers and counteroffers to client.
Assist in developing, communicating, negotiating offers.
Assist to complete the transaction.
Correct Answer: Perform the terms of the service provision agreement.
Which is NOT an agency relationship?
Correct Answer: Transaction Coordinator
Real estate agents are required to:
Disclose all agency relationships and licensee’s duties under each relationship.
Disclose agency relationship before the disclosure of any confidential information.
Provide a written copy of the disclosure to the client/customer
All of the above
Correct Answer: All of the above