Colibri Real Estate 30-Hour Alabama Post License Practice Exam

When an executor, administrator, or estate attorney calls a licensee for a listing appointment, what should be verified?

1. Authority to negotiate

2. Authority to convey the property

3. Experience with real estate

4. Understanding of market trends

The correct answer is: Authority to convey the property

When a licensee receives a call from an executor, administrator, or estate attorney regarding a listing appointment, it is crucial to verify the authority to convey the property. An executor or administrator is typically responsible for managing the estate of a deceased person, which includes the authority to sell or convey any property held within the estate. Ensuring that these individuals possess the legal authority to authorize a real estate transaction is essential for protecting both the seller's and the licensee's interests. If the authority to convey is not verified, the transaction may face legal challenges down the line, invalidating any agreements made during the sale. This verification process not only safeguards the licensee but also upholds ethical and legal standards in real estate practice. While understanding experience with real estate and market trends can be valuable, they do not supersede the necessity of verifying legal authority in terms of property transactions. Without the proper authority to convey, no transaction should proceed, making this step a top priority for the licensee during the appointment process.