Maryland real estat - Study guides, Class notes & Summaries

Who appoints members to the Maryland real estate commission? A. The State Senate B. The house of Delegates C. The executive director of the Commission D. The governor of Maryland - ANSWER Answer: The governor of Maryland Which of the following is true concerning the Maryland Real Estate Commission? A. Its members are representative brokers from real estate boards or associations through Maryland B. It has 5 members C. It has 4 professional and 5 consumer members D. 3 out of its m...

Maryland Real Estate Exam Questions With Verified Answers

MARYLAND REAL ESTATE EXAM PREP QUESTIONS AND ANSWERS 100% PASS Which of the following does NOT end presumed buyer representation? The licensee working with prospects fails to present a disclosure of representation form Does Maryland have dower laws? no Dual agency is permitted only in brokerage firms consisting of three or more licensee true in maryland In which of the following situations does an act of real estate brokerage require a real estate brokerage license? A person char...

Maryland Real Estate (Law) Already Graded A+ A broker is appointed to sell a property through an exclusive-right-to-sell listing contract. The broker will be entitled to a commission: a. only if the broker or one of her salespeople sells the property b. if the property is sold during the listing period c. only if the property is sold by the broker or the owner d. only if the sale is made by a multiple-listing partner ️b. if the property is sold during the listing period A broker need...

Maryland Real Estate Exam Questions and Answers 100% Pass Appoints members of Maryland Real Estate Commission MREC created by? Governor license law How is executive director of commission chosen? Appointed by secretary of labor, licensing, and regulation Minimum level of guaranty fund Initial fee? 250,000 $20 Maryland real estate commission comprised of four members not real estate licensees, five are licensee (must be member of county appointed for at least 5 years) Fees...

When a salesperson whose license has not been renewed negotiates a sale of real property, who is the commission payable to? a. the broker only b. no one c. the salesperson only d. the broker and the salesperson according to prior agreement - Answer-b. no one If a salesperson license is issued on January 2, 2016, when will it expire? a. January 2, 2016 b. September 2, 2016 c. April 1, 2016 d. March 31, 2016 - Answer-a. January 2, 2016 When prospective purchasers first arrive at a broke...

Maryland Real Estate Study Questions with Verified Solutions Licensee Commissioner Must be licensed for at least 10 YEARS Area Representative of the Real Estate Commission must have Lived in area for 5 YEARS Commission must provide a copy of the Code of Ethics to each licensee on the website every 2 YEARS Commission must provide a copy of Regulations to each licensee on the website every 2 YEARS Commission must submit an annual report to the secretary how often? ANNUALLY M...

Maryland Real Estate Question and answers 100% correct 2024 Maryland Real Estate Prescriptive Easement (meet or exceed the requirement in MD) - correct answer 25 Years' continuous use. Tenancy by the Entirety - correct answer Does NOT continue after the death of one of the owners. Sales person license fee - correct answer $110.00 (renewal $90.00) What tenancies does Maryland allow? - correct answer Tenancy by the entirety. Cooperating Agent - correct answer CANNOT repre...

When a salesperson, whose license has not been renewed, negotiates a sale of real property, who is the commission payable to ? - ANSWER No one When prospective purchasers first arrive at a brokerage office to find a house to buy, how does the brokers act require them or be treated ? - ANSWER As customers Which of the following is TRUE of a salesperson's real estate license ? - ANSWER They must be retained by the broker or designated manager in their office

Maryland Real Estate terms I Questions with complete solution 2024 Maryland Real Estate terms I-L Improvement - correct answer 1. Any structure, usually privately owned, erected on a site to enhance the value of the property (e.g., building a fence or a driveway). 2. A publicly owned structure added to or benefiting land (e.g., a curb, sidewalk, street, or sewer) Implied Agency - correct answer Based on the actions of the parties that imply that they have mutually consented to an agenc...