Transcription of Sales Associate Course - Gold Coast Schools
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Sales Associate Course - Gold Coast Schools
Gold Coast Schools1 Chapter Four Sales Associate CourseAuthorized Relationships Duties and DisclosureGold Coast Schools2 Three Categories of Law1)Common LawUnwrittenCustomand court decisionsCompensatory and punitive2)Statutory Law criminal courtsLegislature (written)Monetary and imprisonment3)Administrative 455 475 FRECM onetaryGold Coast Schools3 Agency LawPrincipal Agent relationship1)Employer principal2)Relationship based on trust3)Agent works on behalf of employerGold Coast Schools4 Three Typesof Agency RelationshipsAn agent is a person entrusted to represent three types are:SpecialAgentOneTransactionUniversalA gentEverythingGeneralAgentOneBusinessGol d Coast Schools5 Subagent1)Not a type of agency2)Extension of another agency3)Act on behalf of another agent4)Owes same duties to principal as original agent5) Sales /Broker Associates1)General agents of broker2)Subagent of brokers principalsGold Coast Schools6 Brokerage Relationship Disclosure ActPurpose: Inform and educate the )Defines relationship between broker and brokers employer1)Residential2)Non-residential3) Disclosure formsGold Coast Schools77 Single AgentTransaction BrokerNo BrokerageHonesty & FairnessAccount for All FundsDisclose Known Facts (Residential)Limited ConfidentialityAs AgreedDisclosure (F
Gold Coast Schools 2 Three Categories of Law 1) Common Law Unwritten Custom and court decisions Compensatory and punitive 2) Statutory Law –criminal courts Legislature (written) Monetary and imprisonment
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