Brokerage definition - Study guides, Class notes & Summaries

Maine Real Estate Test 2024/2025 Questions And Answers 100% Accurate Graded A+. For what minimum period of time must a real estate brokerage agency retain copies of rejected offers and counteroffers? A. 1 year B. 2 years C. 3 years D. 5 years - ANSWER-No, rejected offers and counteroffers must be retained for 1 year. A designated broker in Maine is: A. Responsible for the brokerage activities of anyone in her real estate brokerage agency. B. Any licensee with an active Broker license. ...

Maine Real Estate Test 2024/2025 Questions And Answers 100% Accurate Graded A+. For what minimum period of time must a real estate brokerage agency retain copies of rejected offers and counteroffers? A. 1 year B. 2 years C. 3 years D. 5 years - ANSWER-No, rejected offers and counteroffers must be retained for 1 year. A designated broker in Maine is: A. Responsible for the brokerage activities of anyone in her real estate brokerage agency. B. Any licensee with an active Broker license. ...

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...

What does RESPA stand for? What does it mean? - Real Estate Settlement Procedures Act. Getting someone qualified Wha is real estate brokerage? - Real estate brokerage is the business of bringing together buyers and sellers and owners and renters and completing real estate transactions (paid a fee or a commission for services) 5 major sales specialties - "Residential"- 4 or fewer residential units OR agricultural property of 10 or fewer acres. "Commercial" - improved residential proper...

1. Brokerage definition... - correct answer the business practice of bringing together the parties in a practice. 2. What are two examples of special use property? - correct answer schools and cemetary 3. What is an example of functional obsolescence? - correct answer bathroom 4. Principal definition... - correct answer 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......

What does REBBA stand for? : Real Estate and Business Brokers Act Whose role is it to enforce REBBA? : RECO Purpose of REBBA? : 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? : The Ministry of Government and Consumer Services is 'responsible' for REBBA, but it's RECO's role to interpret, enforce and suggest cha...

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...

RECA Fundamentals Exam || With Questions & 100% Correct Solutions RECA Fundamentals Exam || With Questions & 100% Correct Solutions 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...

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 behalf is a _____________. a. broker b. principal c. manager d. easement principal Feedback: Th...

Fundamentals of Mortgage Brokerage 2024 Graded A+ Which of the following is part of RECA's commitment to consumer protection? What are some benefits that mortgage brokerage trade associations offer their members? Licensing Standards for mortgage industry members Which entity has the authority to amend the Act? Provincial Legislators Which of the following represents an accountability mechanism that RECA must comply with under the Act? Previous Fiscal year In addition to mor...