Final Exam-Colibri Real Estate Questions and Answers | 100% Pass
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Course
Colibri Real Estate
Institution
Colibri Real Estate
Final Exam-Colibri Real Estate
Questions and Answers | 100% Pass
1. All six members of the Georgia Real Estate Commission are appointed by -
Answer-The Governor of Georgia
How many commission members must be licensed - Answer-Five of the six
members of the Georgia Real Estate can have licenses...
buyers or sellers , who would take the broker's generated leads , but then buy or sell the
property once the listing agreement has expired in order to avoid paying the
commission to the licensee is known as - Answer✔✔-The Safety or Carryover
Extender Clause .
Under GA Law , a listing broker - Answer✔✔-does not have to share his sales
commission with the selling broker who has procured the ultimate buyer, this is legal
and not against GA real estate law.
Every brokerage must maintain - Answer✔✔-an accounting system to detail all
receipts and deposits received from others that are under the control of the brokerage.
When two people want to simply exchange one property for for another , the person
who handles the details for a fee must have - Answer✔✔-either a real estate license
or a law license
Members of the Georgia Real Estate Commission serve - Answer✔✔-5 year terms
Whenever a property owner engages a licensee to list list property for sale where the
commission is not a pre set percentage or simple dollar value but will be all funds than
remain after the owner receives a certain amount the arrangement is called a -
Answer✔✔-NET LISTING and is illegal .
In order to change from one brokerage to another the licensee needs to - Answer✔✔-
get the current managing broker to to sign a release form and send it to the commission
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