PSI Virginia Real Estate Practice Exam

Disable ads (and more) with a membership for a one time $2.99 payment

Prepare for the PSI Virginia Real Estate Exam. Study with flashcards and multiple choice questions, each question has hints and explanations. Get ready for your exam success!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

When must an agent disclose agency relationships to customers?

Only after a contract is signed
After a property is sold
Timely, to protect customer interests
At the end of a transaction

The correct answer is: Timely, to protect customer interests

An agent must disclose agency relationships to customers in a timely manner to protect the interests of the customer. This means that the disclosure should happen as soon as it is practical in order to ensure that the customer fully understands the nature of the agent's representation. Timely disclosure allows customers to make informed decisions about their real estate transactions and helps to build trust in the agent-client relationship. By providing this information early in the process, the agent ensures that customers can consider the implications of the relationship when deciding whether to engage with the agent's services. Early and clear communication about agency relationships is crucial for transparency and ethical practice in real estate transactions.