Rockwell washington - Study guides, Class notes & Summaries

Managing Broker Person who performs real estate brokerage services on behalf of a real estate firm, under the supervision of a designated broker. Is a managing broker allowed to supervise other licensees? Only with authorization from the designated broker. What are the requirements to be a managing broker? Licensed as a broker for 3 of the last 5 years. Takes additional courses. Takes managing broker exam. Does every branch need to have a designated broker? No. They do a bra...

A buyer purchases a rental home that is fully furnished. The document used to transfer title to the furniture is: a. quitclaim deed b. bill of sale c. special warranty deed d. general warranty deed - b. bill of sale Deeds transfer title to real estate, a bill of sale is generally needed to transfer title to personal property. Ben receives a life estate in a property, with his nephew Will designated as the remainderman. When Ben dies, what kind of interest does Will receive? A. Fee Simpl...

Rockwell Real Estate Exam WA 2 | Questions, Answers and Rationales At what point in a transaction must you disclose your agency status in writing? A. at closing B. when first meeting any potential party to the transaction C. when a party signs an offer D. Before a party signs an offer You must disclose your agency status to each party in a transaction as soon as practicable. However, the initial disclosure may be oral - the law doesn't require written confirmation of the agency disclosure unt...