Wra chapter 3 - Study guides, Class notes & Summaries

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WRA Chapter 3 Quiz Questions and Answers Latest Updated 2024

What authority does a listing licensee have under the WB-1? Sign the listing on the listing firm's behalf. Whose employment terms are governed by a listing agreement? The listing firm. What must a valid listing contract include? A description of the property. Which statement is true of the extension of the listing provision in the WB-1 Residential Listing Contract? Buyers who negotiate directly with sellers are automatically protected buyers for the listing firm. A home is listed for $10...

Protected Buyers - Buyers for which a listing firm has a one year extension of the listing contract. Closing (Settlement) - Completion of a real estate transaction where mortgage funds are given to a buyer who exchanges them with a seller for legal title to the property. Excluded Properties - Properties that are excluded from a buyer agency agreement by the buyer. For a buyer's firm to receive money from the seller, the buyer must consent. - True Explanation: The buyer ...

WRA Chapter 3 Quiz.

WRA Chapter 3 Questions with verified solutions | Already Passed

WRA Final Exam Practice Questions With 100% Verified Answers A selling licensee can receive a commission from the: A:selling firm B:buyer C:buyer's firm D:seller - answerselling firm Wis. Stat. § 452.14(3)(f) Disciplinary proceedings shall be conducted by the board if it finds that a licensee accepted from any person except the firm with which the licensee is associated, if the licensee is associated with a firm, a commission or valuable consideration for the performance of any act s...

WRA Chapter 3 Quiz with verified solutions | Already Passed

WRA Final Exam Practice Questions With 100% Verified Answers A selling licensee can receive a commission from the: A:selling firm B:buyer C:buyer's firm D:seller - answerselling firm Wis. Stat. § 452.14(3)(f) Disciplinary proceedings shall be conducted by the board if it finds that a licensee accepted from any person except the firm with which the licensee is associated, if the licensee is associated with a firm, a commission or valuable consideration for the performance of any act s...