Post licensing 301 Questions And Answers
Who are the parties to an agency agreement? The agent and the principals
Does the principal have to disclose anything? No, they do not
When and in what transactions must a broker provide the WREA brochure? At first
substantial contact in all sales trans...
Who are the parties to an agency agreement? The agent and the principals
Does the principal have to disclose anything? No, they do not
When and in what transactions must a broker provide the WREA brochure? At first
substantial contact in all sales transactions
When and in what transactions must Agency agreements with property owners be in writing?
Before any broker services are provided (be it for sales, lease, or owner association) in all
transactions
Before a broker may begin working with a buyer or tenant as that a principal's agent, how may
the parties' agency relationship be created under NCREC rules? It can be created orally
until the time of offer, when it must be in writing
Who are the parties to the agency agreement? The firm and the consumer
, Post licensing 301 Questions And Answers
What duties does a licensee affiliated with a company owe to the company? Fiduciary
duties
What are the relevant factors/criteria when selecting properties to use as comparables for a
CMA? Recent close date
Proximity
Similarity
What is the "best" comp? The one that is the most similar
When doubtful of the accuracy of the CMA, a broker should suggest a list price on what end of
the spectrum? The high end
Who may provide a BPO for a fee and under what conditions? A non-provisional broker
and they must have a written agreement
What is the difference between a BPO and a CMA? There is none
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