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Real Estate Post Licensing 301 - Working as a Limited Services Broker & Multiple Listing Service and Issues Chapters questions Questions And Answers$34.99
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Real Estate Post Licensing 301 - Working as a Limited Services Broker & Multiple Listing Service and Issues Chapters questions Questions And Answers
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Course
Post licensing 301
Institution
Post Licensing 301
Real Estate Post Licensing 301 - Working as
a Limited Services Broker & Multiple Listing
Service and Issues Chapters questions
Questions And Answers
Betul, a broker affiliated with Green Acres Realty, is in a listing meeting with Justin. Justin
decides he would like to work with Betul and G...
Real Estate Post Licensing 301 - Working as
a Limited Services Broker & Multiple Listing
Service and Issues Chapters questions
Questions And Answers
Betul, a broker affiliated with Green Acres Realty, is in a listing meeting with Justin. Justin
decides he would like to work with Betul and Green Acres Realty. According to North Carolina
Real Estate Commission rules, what does Betul need to do in order to create an agency
relationship with Justin?
A) Betul can have an oral agreement with Justin until closing and then must be reduced to
writing at that time.
B) Betul can have an oral agreement with Justin until the due diligence period and then must be
reduced to writing at that time.
C) Betul needs to have a signed listing agreement with Justin from the beginning of their
relationship.
D) Betul can have an oral agreement with Justin until they receive an offer on his property and
then must be reduced to writing at that time.
Which of the following statements is TRUE regarding list price and terms?
A) Llisting agent needs to hire and pay for a licensed real estate appraiser to perform an appraisal
on the property in order to properly advise the seller on listing price.
, Real Estate Post Licensing 301 - Working as
a Limited Services Broker & Multiple Listing
Service and Issues Chapters questions
Questions And Answers
B) The listing agent has no duty to advise the seller on listing price because it would be a
violation of their fiduciary duties to the seller.
C) The listing agent needs to have personally prepared an appraisal on the property for the seller
before advising them on listing price.
D) The listing agent needs to have completed some form of analysis to determine probable sales
price for the seller before advising them on listing price.
Lonnie has recently listed his property for sale with Jesse Jones, sole proprietorship. Soon after
they sign the listing agreement Jesse dies. Which of the following statements would be TRUE
regarding the listing agreement?
A) The listing agreement is still valid.
B) The listing agreement would have to be terminated by a civil lawsuit.
C) The terms of the listing agreement will be carried out by Jesse's estate.
D) The listing agreement is terminated when Jesse dies.
, Real Estate Post Licensing 301 - Working as
a Limited Services Broker & Multiple Listing
Service and Issues Chapters questions
Questions And Answers
When the broker produces a buyer ready, willing, and able to buy under the terms specified in
the listing contract, the broker remains entitled to a brokerage fee even if the transaction fails due
to all of the following EXCEPT
A) the seller insists on sale terms and conditions not stated in the listing contract.
B) the seller has a defect in title.
C) the buyer fails to obtain loan approval after they have gone under contract with the seller.
D) the seller will be unable to deliver possession within a reasonable time.
Alicia is the listing agent for Tiffany, the seller. Alicia needs to indicate the price and terms
Tiffany is willing to accept in the listing agreement. The listing agreement includes a place for
the seller to indicate if they would be willing to accept USDA loan terms. Which of the following
statements BEST describes what Alicia needs to tell Tiffany regarding the buyer obtaining a
USDA loan?
A) Alicia needs to tell Tiffany that USDA borrowers are unstable buyers since they are low-
income buyers.
B) Alicia cannot advise Tiffany on the price and terms in a listing contract.
, Real Estate Post Licensing 301 - Working as
a Limited Services Broker & Multiple Listing
Service and Issues Chapters questions
Questions And Answers
C) Alicia first needs to determine if the property qualifies for USDA financing.
D) Alicia needs to check all forms of financing available on the listing agreement and not consult
Tiffany.
Jeffery is listing his home with Diane who is affiliated with Best Team Realty. Diane needs to
indicate the price and terms that Jeffery is willing to accept in the listing agreement. The listing
agreement includes a place for the seller to indicate if they would be willing to accept FHA or
VA loan terms. Which of the following statements BEST describes what Diane needs to tell
Jeffery regarding the buyer obtaining FHA or VA loan terms?
A) Diane needs to tell Jeffery that FHA or VA buyers are not very stable buyers since they are
required to provide little or no down payment.
B) Diane needs to share a copy of the FHA/VA financing addendum that would accompany an
offer where the buyer is obtaining FHA or VA financing and review it with Jeffery.
C) Diane needs to check all forms of financing available on the listing agreement and not consult
Jeffery.
D) Diane cannot advise Jeffery on the price and terms in a listing c
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