A cooperative broker - Study guides, Class notes & Summaries

A seller wants to list the property with a broker, but wants to avoid paying any commission should the seller be fortunate enough to sell the property. himself. Which of the following should the seller avoid signing? A. an exclusive agency listing B. an exclusive right to sell listing C. an open listing D. all listings - ANSWER B. an exclusive right to sell listing Mr. Smith listed his farm with broker Bob. Although Smith did not tell him, Bob knew he had to sell due to poor health. Wha...

Florida Real Estate Exam (Latest 2023/ 2024 Update) Questions and Verified Answers| 100% Correct| Grade A Q: Florida Real estate sales associates that desire to become brokers must wait _______ ________ before taking the state exam. Answer: one year Q: A tenant in an apartment complex may recieve up to ______ for refferal of a new tenant for the same complex. Answer: $50 Q: ________ ________ education must be completed during the initial sales associates's license p...

Champions Real Estate Exam: Law of Agency Latest Version Graded A+ This person hires an agent The Principal The agent works on behalf of this person the client (principal) This type of agency allows for the greatest range of authority Universal This is provided to the agent when there is written documentation that the agency relationship exists. Express authority This is the most limited of all the agency relationships Special agency This type of agency is created when a 3rd party believes ...

Improvement - ️️any artificial thing attached on or below ground, such as a building, fence, water line or sewer pipe, as well as growing things that are made part of the landscaping. Agency coupled with an interest - ️️Broker agrees to provide financing for condo being constructed with exclusive right to sell the units Special Purpose Real Estate - ️️churches, schools, cemeteries, and governmentheld lands Propriety lease - ️️the lease given to shareholders in a cooperative...

GA REAL ESTATE EXPRESS FINAL EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+/ Under the _______ of recording, title passes when the conveyance is registered on the title certificate. - -Torrens System Non-judicial foreclosure is required to foreclose on a - -Deed of Trust A broker induces an owner to sell by telling him that Muslims are moving into the neighborhood. This broker is guilty of - -Blockbusting What type of agency cannot be revoked by the principal, nor is terminated if the pri...

The principal is also known as - client fiduciary relationship - a relationship founded on trust and confidence Agency Relationship - Exists when one person (the agent) acts for, or on behalf of another person (the principal). the principal - is the one who hires and gives authority to the agent Texas Real Estate License Act TRELA - Was passed 1939. The purpose is to protect the public against unscrupulous brokers and sales agents. Texas Real Estate Commission TREC - Was created ...

CHAMPIONS LAW AGENCY If a broker has more than one place of business, a branch - ANSWERoffice license is required for each location. It is not necessary to have a licensed broker at each location. How can a broker terminate a sales agent? - ANSWERit must be done in writing, and the license must be returned to the Texas Real Estate Commission immediately How can a sales agent terminate with a broker? - ANSWERit must be done in writing The Texas Real Estate Commissions main focus is...

Pearson Vue Practice Exam Questions and Answers Latest Updated 2024/2025 | Scored A+. In stating a seller's price and terms to a prospective buyer, the seller's broker is required by the law of agency to state ONLY those terms that are a. included in the listing agreement b. based on the brokers evaluation of prevailing prices and terms c. favorable for the seller, as determined by the broker d. attractive to buyers, as determined by the broker a. included in the listing agreement a lot ...

This person hires an agent - Answer-The Principal The agent works on behalf of this person - Answer-the client (principal) This type of agency allows for the greatest range of authority - Answer-Universal This is provided to the agent when there is written documentation that the agency relationship exists. - Answer-Express authority This is the most limited of all the agency relationships - Answer-Special agency This type of agency is created when a 3rd party believes that an agent has aut...

As an independent contractor, which of the following must exist between the salesperson and a specific broker...? A. Implied contract B. Explicit agreement C. Handshake agreement D. Written contract - Answer D. Written contract When a buyer's broker agrees to the cooperative arrangement of the MLS, he/she becomes what to the seller, who's property is listed on the MLS...? A. Secondary agent B. Primary broker C. Sub-agent D. Principal - Answer C. Sub-agent Which of the fol...