Practice Test Geeks(NAR) National Association of Realtors Certification Practice Test
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Client Relationship & Account Management Flashcards

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Read the first 7 Client Relationship & Account Management flashcards as text

  1. A client instructs their agent to present only offers above a certain price. The agent receives a lower offer that otherwise has very favorable terms. What should the agent do?

    Answer: Present the offer and explain its favorable terms, then let the client decide

    Agents must present all offers promptly unless the client has given a written, specific instruction to the contrary that complies with law.

  2. Which scenario represents a breach of the duty of confidentiality?

    Answer: Disclosing to another party that the seller is under financial pressure to sell quickly

    Revealing a client's motivation or financial situation to the opposing party breaches the agent's duty of confidentiality.

  3. What is the primary purpose of a Comparative Market Analysis (CMA) when working with a seller client?

    Answer: To estimate a competitive listing price based on recent comparable sales

    A CMA uses recent sales of similar properties to help establish a realistic and competitive listing price.

  4. Under the NAR Code of Ethics, when must a REALTOR® disclose their status as a real estate licensee when purchasing property for themselves?

    Answer: Before or at the time of making an offer

    Article 4 of the NAR Code of Ethics requires REALTORS® to disclose their licensee status when buying, selling, or renting property for their own account.

  5. A buyer's agent discovers during a showing that the property has an unpermitted addition. What is the appropriate action?

    Answer: Disclose the issue to the buyer client so they can make an informed decision

    The agent's duty to disclose material facts requires informing the buyer client of the unpermitted addition promptly.

  6. What does the term 'obedience' mean in the context of fiduciary duties to a client?

    Answer: Following lawful client instructions even if the agent disagrees with the strategy

    Obedience requires agents to follow lawful and ethical client instructions, but not instructions that are illegal or unethical.

  7. An agent represents a buyer who is also the agent's family member. What is the recommended best practice?

    Answer: Disclose the personal relationship in writing and confirm the client still wants representation

    Disclosing personal relationships that could influence the agency relationship ensures transparency and protects all parties.

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