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QUIZ Take our latest quiz on our most popular, weekly Q&As. BY WILL MARTIN, GENERAL COUNSEL
These questions are based on weekly Q&As published in the REALTOR® Rundown between December 2021 and March 2022. Answers include title and reference to location of full Q&A in Q&A archives on NC REALTORS® website.
1.
Does the new Standard of Practice 10-5 of the Code of Ethics, which bars REALTORS® from using “harassing speech, hate speech, epithets or slurs based on race, color, religion, sex, handicap, familial status, national origin, sexual orientation, or gender identity,” apply to speech by a REALTOR® that is not directly related to a real estate transaction? Yes or no?
2.
Is it unethical for me to tell a buyer that they may hire me at no cost to them? Yes or no?
3.
May a real estate firm become liable for the action of an affiliated agent if the agent did not have authority from the firm to take that action? Yes or no?
4.
May an agent enter into a contract to purchase his own listing? Yes or no?
5.
If a tenant resides in a property under an oral lease, would the lease be binding on someone who purchases the property? Yes or no?
6.
Would it be okay for a buyer during a showing to turn the thermostat on to see if the heating system works? Yes or no?
7.
May a buyer agent withdraw an offer on behalf of their buyer client? Yes or no?
8.
If a buyer agent learns that their client got laid off from his job, does the agent have any obligation to inform the buyer’s lender of the client’s job loss? Yes or no?
9.
If a buyer agency agreement provides for the payment of a retainer fee, may the buyer pay the retainer directly to the individual buyer agent with the consent of the agent’s firm? Yes or no?
10.
Can a listing agent offer MLS compensation expressed as a percentage of the net sales price rather than the gross sales price? Yes or no?
ncrealtors.org • INSIGHT 15
