Real Estate Transaction Agents: Definition & Duties

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Which two states were among the earliest to authorize the work of real estate transaction agents?

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1. What is a fiduciary responsibility?

2. Which of the following is true of real estate transaction agents?

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About This Quiz & Worksheet

You can use this assessment combo to measure how much you know about transaction agents in real estate. Fiduciary responsibility, transaction brokerage and its history, and other types of brokerage will be addressed in this quiz.

Quiz & Worksheet Goals

Quiz questions will look at these topics:

  • Earliest states to allow transaction brokers
  • Brokerage replaced by transaction brokers
  • Fiduciary responsibility
  • Transaction vs. traditional brokers
  • Single-agency brokerage

Skills Practiced

These guides will give students a chance to demonstrate their skill in:

  • Distinguishing differences - compare and contrast topics from the lesson, such as traditional and transaction brokers
  • Defining key concepts - ensure that you can accurately define main phrases, such as single-agency brokerage and fiduciary responsibility
  • Interpreting information - verify that you can read information regarding brokerage replaced by transaction brokers and interpret it correctly
  • Knowledge application - use your knowledge to answer questions about transaction brokers in different states

Additional Learning

To keep learning about this subject, be sure to take a look at the associated lesson, titled Real Estate Transaction Agents: Definition & Duties. This lesson covers multiple objectives, such as:

  • Differentiate between various types of brokerage
  • Understand the role of transaction brokers in real estate
  • Define transaction broker and explain the history behind the position
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