Purpose of mrec - Study guides, Class notes & Summaries

Chapter 339 of the MO Statutes is: Code of Ethics License Law MLS Rules For commercial agents only - ANSWER-b Susie is employed by broker Joe to show rental properties that he manages. She shows rental units, collects security deposit checks made payable to the owner, and delivers leases. Based on these actions, Susie: Must be a real estate licensee Is violating MREC rules Is creating a criminal offense Is not required to be a MO Real estate licensee - ANSWER-d The purpose of M...

C - ANSWER Someone who is licensed in MS to sell, buy, or lease real estate for a fee is defined as a a. real estate sales person b. responsible nonresident broker c. real estate broker d. personal assistant b - ANSWER the primary purpose of the Mississippi Real Estate Commission is to a. issue real estate licenses b. protect the public c. test real estate license applicants d. investigate real estate law violations d - ANSWER which of the following is outside MREC's authori...

C - ANSWER Someone who is licensed in MS to sell, buy, or lease real estate for a fee is defined as a a. real estate sales person b. responsible nonresident broker c. real estate broker d. personal assistant b - ANSWER the primary purpose of the Mississippi Real Estate Commission is to a. issue real estate licenses b. protect the public c. test real estate license applicants d. investigate real estate law violations d - ANSWER which of the following is outside MREC's authori...

C - ANSWER Someone who is licensed in MS to sell, buy, or lease real estate for a fee is defined as a a. real estate sales person b. responsible nonresident broker c. real estate broker d. personal assistant b - ANSWER the primary purpose of the Mississippi Real Estate Commission is to a. issue real estate licenses b. protect the public c. test real estate license applicants d. investigate real estate law violations d - ANSWER which of the following is outside MREC's authori...

7 Members. Have to have been a us citizen for 1 year at least. Appointed by the governor with consent of the Missouri senate. 6 members must have been licensed brokers for 10 years. 1 member from general public. - The MREC is made up of All members to vote. Members may hold an inactive license during employment. Cannot be actively involved in the real estate business. $75 a day when meeting. Plus expenses. - The MREC allows Protect the public. Established by state legislature. - Purpose of ...

Missouri State License Law Guaranteed Solutions License Requirements and Exceptions - A developer wanted to sell land in their own recently developed subdivision. Does the developer need a license in Missouri to sell this land? No, since he is the owner of the land. - An unlicensed clerical employee of a real estate brokerage is showing listed property to a buyer. Is this legal? No, this would be a violation of Missouri License law as only real estate licensees can show property....

Real Estate Exam- Missouri Portion only Already Passed The MREC is made up of 7 Members. Have to have been a us citizen for 1 year at least. Appointed by the governor with consent of the Missouri senate. 6 members must have been licensed brokers for 10 years. 1 member from general public. The MREC allows All members to vote. Members may hold an inactive license during employment. Cannot be actively involved in the real estate business. $75 a day when meeting. Plus expenses. Purpose of MREC Pr...

Mississippi State Agency which was created by 73-35-5 to regulate the licensing of real estate brokers and salespersons, which it's duties and authorities are included in the law. - ANSWER Mississippi Real Estate Commission MREC Any leasehold, interest, or estate in land, including timeshares and condominiums, whether corporal or incorporal, freehold or non-freehold, located in MS or elsewhere. Does NOT include: oil, gas, minerals, leases, leaseholds, estates, or interest of any nature. - AN...

FINAL EXAM (Bob Brooks) Questions and Answers 100% Pass When must earnest money and/or deposits accepted by the broker be put into the escrow account? a. Earnest money does not have to be put into an escrow account. b. By the close of business of the next banking day c. Within 24 hours d. Within 48 hours - Answer- b. By the close of business of the next banking day In order to record a deed, it MUST be in writing and: a. signed by grantee b. recite the actual purchase price c. acknowl...

Missouri Real Estate Law Guaranteed Success What is the primary purpose of Chapter 339 of the Missouri Statutes? ️ To protect the public by regulating the actions of licensees to ensure compliance with the real estate license law. Would a person assisting in telemarketing the broker's services need a license under Missouri Law? ️ Yes. Auctioneer Grant is negotiating to auction off some items for a farm family. If the farmer asks Grant to also auction the farm, would Grant need a...