Brokerage engagement - Study guides, Class notes & Summaries

Georgia MLS Practice Class Questions and Answers 100% Pass "Buy-down" describe a financing method that makes homes more affordable for prospective buyers by reducing payments in the early years of the loan. Regarding this loan technique, which of the following is true? Lenders are paid up front fees to lower the interest for a borrower in the first few years of the loan, however, negative amortization does not occur A broker has a listing for which the seller desires to net at leas...

In the Exclusive Right-to-Sell Listing Contract, if a buyer calls the seller, the seller should 1. tell the buyer if he would wait 60 days, he could sell the home without the agent. 2. show the property to the buyer. 3. tell the buyer to call his agent. 4. tell the buyer about the home, and then if the buyer is interested, to call his agent. MARK QUESTION correct answers 3. All of the following are true except ________. 1. brokers are permitted to fill in the blanks of pre-printed, ...

When should a licensee disclose to the parties whom their firm intends to represent in a transaction? - correct answer Disclosure should be made verbally and in writing to all parties as soon as possible. A selling broker desires to represent a purchaser in a real estate transaction while at the same time act as a subagent of the listing broker and seller. Could the broker perform both of these functions in the same transaction? - correct answer No, when a broker working with a buyer acts as ...

GEORGIA REAL ESTATE PRACTICE 52 QUESTIONS & ANSWERS, 100% ACCURATE, GRADED A+/ Legal competency age in Georgia is: a. 15 b. 18 c. 21 d. 16 - -B. What does BRRETA stand for? a. The Brokerage Real Estate Training Act b. The Brokerage Real Estate Transactions Act c. The Brokerage Relationships in Real Estate Transactions Act d. The Georgia Basic Relationships in Real Estate Transactions Act - -C. The Georgia Real Estate Commission is composed of: a. Three brokers, two salespersons, an...

Brokerage Engagement - Answer a written agreement between two parties where one party agrees to provide a specified service to the other. Brokerage engagements are bound by both contract and agency law. -Who's involved in a brokerage engagement? Brokerage engagements are written agreements between an agent and a client(s). -What's the purpose? The purpose of a written brokerage engagement is for a professional to serve a client in their desire of the completion of a task, such as se...

How many commission members are there? Who are they appointed by? Who are they confirmed by? For how many terms - correct answer -6 commission members total. Appointed by the governor. Confirmed by the Senate. All 5-year terms. What is the primary purpose of the Georgia Commission? - correct answer -1) to develop rules and regulations 2) Investigate alleged violations by licensees 3) Discipline licensees who have violated laws 4) Establish non-refundable fees from licensees How many co...

AREC exam 2024 Questions and Answers Woodrow helps his neighbor sell his home by assisting with negotiations. He receives no compensation for his assistance. Based on this transaction, Woodrow _____ - Answer-Doesn't need a real estate license What must you have to apply as a real estate salesperson in Alabama -Answer-A sponsoring broker Daisy holds a real estate license in Mississippi and looking to obtain a reciprocal license in Alabama. Which requirement must she meet? -Answer-Provide ...

Legal competency age in Georgia is: a. 15 b. 18 c. 21 d. 16 - correct answer -B. What does BRRETA stand for? a. The Brokerage Real Estate Training Act b. The Brokerage Real Estate Transactions Act c. The Brokerage Relationships in Real Estate Transactions Act d. The Georgia Basic Relationships in Real Estate Transactions Act - correct answer -C. The Georgia Real Estate Commission is composed of: a. Three brokers, two salespersons, and a district representative and a representative...

cosmetology EOPA Exam Study Guide with Complete Solutions Air rights are: - Answer️️ -The rights to use and control space above a specific parcel of land (as defined on the surface) Blanket Mortgage - Answer️️ -mortgage loan covering more than one parcel of real estate Board of Equalization - Answer️️ -The body of appeal if you think your property tax appraisal is too high. brokerage - Answer️️ -The business of making sales and purchases for a commission; a broker. Budg...

COLORADO State Exam Questions and Answers Already Passed In Colorado, which of the following individuals is exempt from real estate license law? 1 An investor who owns multiple investment properties and sells 1 to an owner-occupant. 2 A right-of-way specialist who finds investment acreage for a friend and subsequently accepts a commission referral. 3 An attorney who assists in marketing a property and collects a 5% commission. 4 An inactive licensee who assists a friend with a purchase offer...