Brokerage definition Study guides, Class notes & Summaries

What does REBBA stand for? - Answer-Real Estate and Business Brokers Act Whose role is it to enforce REBBA? - Answer-RECO Purpose of REBBA? - Answer-provide a framework for the responsive regulation of the real estate profession to protect consumers and ensure the integrity of real estate transactions is upheld. What Ontario government body is responsible for REBBA? - Answer-The Ministry of Government and Consumer Services is 'responsible' for REBBA, but it's RECO's role to interpret, e...

Real Estate Practice Exam Questions Answered 100% Correctly 2024 Real Estate Practice Exam Questions Answered 100% Correctly 2024 1. Brokerage definition... the business practice of bringing together the parties in a practice. 2. What are two examples of special use property? schools and cemetary 3. What is an example of functional obsolescence? bathroom 4. Principal definition... a consumer of real estate services who has entered into an agency relationship with a broker or another ...

Which of the following is NOT a RECA educational resource for industry professionals? - Answer- Spatial Information System (Spin 2) Which entity has the authority to amend the Real Estate Act - Answer- Provincial Legislature Which of the following measures the change in a cost of a fixed basket of goods and services purchased by families over a period of time - Answer- Consumer Price Index (CPI) Which of the following will occur to the supply of a good when there is a change in quantity...

Which of the following has the authority to suspend or revoke a Texas real estate license? - Answer- TREC Which of the following is an element of a listing agreement? - Answer- the agreement to pay a stated commission, usually a percentage of the sales price the IRS considers which of the following a violation of independent contractor status? - Answer- salesperson is told to work set hours, guaranteed a monthly minimum wage, has his licensing fees paid by the broker the TAR buyer repre...

Oregon Practices Final Exam Review Questions and answers, with rationale. graded A+/ verified. A broker is a person who: a. is employed by another person b. has the authority to act for another person c. has the authority to exercise some discretion while acting for another person d. all of the above - -all of the above Feedback: All of the above comprise the definition of a broker. The correct answer is "d". Question #2: The person who hires or appoints a broker to act on his/her beha...

RECA Fundamentals Exam Questions and Answers Already Passed Which of the following is NOT a RECA educational resource for industry professionals? Spatial Information System (Spin 2) Which entity has the authority to amend the Real Estate Act Provincial Legislature Which of the following measures the change in a cost of a fixed basket of goods and services purchased by families over a period of time Consumer Price Index (CPI) Which of the following will occur to the supply of a goo...

The foundation upon which real estate brokerage is practiced correct answers Agency A legal and ethical relationship created between a real estate firm and a party to a transaction; the party may be a buyer, seller, landlord, or tenant correct answers Agency Relationship A written agreement between a firm and a client; the client authorizes the firm to provide brokerage services to the client correct answers Agency Agreement What are two agency agreements? correct answers Listing Agreem...

Real Estate Practice Exam Questions Answered 100% Correctly 2024 1. Brokerage definition... the business practice of bringing together the parties in a practice. 2. What are two examples of special use property? schools and cemetary 3. What is an example of functional obsolescence? bathroom 4. Principal definition... a consumer of real estate services who has entered into an agency relationship with a broker or another licensee employed by a broker. 5. Capitalization definition... th...

Which of the following has the authority to suspend or revoke a Texas real estate license? - Answer- TREC Which of the following is an element of a listing agreement? - Answer- the agreement to pay a stated commission, usually a percentage of the sales price the IRS considers which of the following a violation of independent contractor status? - Answer- salesperson is told to work set hours, guaranteed a monthly minimum wage, has his licensing fees paid by the broker the TAR buyer repre...

TN State Exam Practice 1 Questions and Answers Already Passed In Tennessee, what's the minimum age to earn a real estate license? 16 18 21 25 18 Which of the following is the most accurate definition of the word "creed"? A disability A national culture A set of beliefs A system of racial categorization A set of beliefs TREC and any committee created under TREC is entitled to whose legal services? The district attorney of the county in which TREC operates The ...