### What is the primary role of a seller broker? - [x] To represent the seller in a real estate transaction - [ ] To find properties for potential buyers - [ ] To provide home inspection services - [ ] To handle the closing process only > **Explanation:** A seller broker represents the seller in a real estate transaction. The fiduciary relationship created between the seller and the broker through a listing contract mandates the broker to act in the best interest of the seller. The seller broker works to sell the property at favorable terms for the seller. ### Who typically pays the commission for a seller broker? - [x] The seller - [ ] The buyer - [ ] The real estate agency - [ ] The mortgage lender > **Explanation:** In most real estate transactions, the seller pays the commission for the seller broker. The compensation is agreed upon in the listing contract between the seller and the seller broker. ### What type of relationship is created between the seller and the seller broker? - [x] Fiduciary relationship - [ ] Adversarial relationship - [ ] Casual relationship - [ ] Temporary relationship > **Explanation:** A listing contract creates a fiduciary relationship between the seller and the seller broker. This means the broker must act in the best interests of the seller and handle the transaction with utmost care and loyalty. ### In a real estate transaction, who does the seller broker typically work for? - [x] The seller - [ ] The buyer - [ ] The lender - [ ] The real estate agency > **Explanation:** The seller broker typically works for the seller, as they have a listing contract with the seller to represent their best interests in the sale of the property. ### What should buyers verify about real estate agents showing them properties? - [x] Whether the agent is working for them or the seller - [ ] The commission structure of the agent - [ ] The number of properties the agent has sold - [ ] The agent's office location > **Explanation:** Buyers should verify whether the real estate agent showing them properties is working for them or the seller. Often, agents showing properties are working for the seller because they have a listing agreement with the seller broker. ### What is the opposing situation to a seller broker in a real estate transaction? - [x] Buyer broker - [ ] Dual agent - [ ] Independent broker - [ ] Listing agent > **Explanation:** The opposing situation to a seller broker in a real estate transaction is a buyer broker. A buyer broker represents the buyer and their interests in finding and purchasing property, and the buyer often pays the broker's commission. ### What document establishes the relationship between the seller and the seller broker? - [x] Listing contract - [ ] Purchase agreement - [ ] Lease agreement - [ ] Mortgage contract > **Explanation:** The listing contract is the document that establishes the relationship between the seller and the seller broker. It outlines the terms under which the broker will represent the seller to sell their property. ### Why is it important for buyers to understand the role of agents in a real estate transaction? - [x] To ensure they know who represents their interests - [ ] To negotiate lower commissions - [ ] To avoid paying closing costs - [ ] To find unlisted properties > **Explanation:** It's important for buyers to understand the role of agents to ensure they know who represents their interests. If an agent works for the seller, their primary obligation is to the seller, not the buyer, which could affect the negotiation dynamics and purchase terms. ### What assumption do buyers often mistakenly make about real estate agents showing properties? - [x] That the agents work for them - [ ] That the agents' services are free - [ ] That the agents can modify the listing price - [ ] That the agents conduct official property inspections > **Explanation:** Buyers often mistakenly assume that the agents showing them properties work for them. In reality, these agents are usually working for the seller, as they have a listing contract to represent the seller's interests. ### What kind of transaction most commonly involves a seller broker? - [x] Real estate sales - [ ] Lease agreements - [ ] Short-term rentals - [ ] Foreclosure purchases > **Explanation:** Most commonly, seller brokers are involved in real estate sales. They represent sellers in selling their properties, aiming to achieve favorable terms as outlined in the listing contract.