Brokerage definition - Study guides, Class notes & Summaries

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

Single Agent correct answers A broker who represents either the seller or the buyer in a real estate transaction, but not both. Dual Agency correct answers An illegal arrangement whereby the broker tries to represent both the buyer and the seller in the same transaction. A residential sale is defined as: correct answers -property with four units or fewer, -unimproved residential property intended for use of four units or fewer, or -agricultural property of 10 acres or fewer. The three...

Charles Barnes Real Estate Questions and Answers Already Passed How does the Code define Real Estate??? Any interest or estate in real property, within or without the State of Oklahoma, whether vested, continent or future, corporeal or incorporeal, freehold or nonfreehold, and including leaseholds, options and unit ownership estates to include condominiums, time-shared ownerships and cooperatives; provided, however, that the term "real estate" show not include oil, gas or other miner...

RECA Fundamentals Exam Questions With 100% Correct Answers Which of the following is NOT a RECA educational resource for industry professionals? - answerSpatial Information System (Spin 2) Which entity has the authority to amend the Real Estate Act - answerProvincial 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 - answerConsumer Price Index (CPI) Which of the following will occur to the ...

Master Set Humber Real Estate Course: 1 Verified Answers 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 ...

MASTER SET HUMBER REAL ESTATE COURSE: 1 QUESTIONSAND ANSWERS ALREADY PASSED 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, ...

Single Agent correct answers A broker who represents either the seller or the buyer in a real estate transaction, but not both. Dual Agency correct answers An illegal arrangement whereby the broker tries to represent both the buyer and the seller in the same transaction. A residential sale is defined as: correct answers -property with four units or fewer, -unimproved residential property intended for use of four units or fewer, or -agricultural property of 10 acres or fewer. The three typ...

The relationship of agents and their principals correct answers agency An agreement between a buyer and a broker for the broker to provide services to a buyer for compensation. The broker may be acting as a single agent, transaction broker, or a nonrepesentative. correct answers buyer brokerage agreement can be Condominiums, Cooperatives, Vacation and time-sharing, mobil home park lots, which owners belong and are responsible for; i.e. assessments, documents, dues, ect. correct answers Com...

Sue the broker - Answer- Sales associate, Tim, received a signed contract from a buyer and ailed it to the seller. The seller agreed to the terms and the escrow deposit was deposited safely in the brokers escrow account. Tim has a disagreement with his broker and quits. The broker refuses to pau a commission since tim was not in his employ when the contact was actually received and signed. What should tim to? The one who engages the broker in a single agency relationship - Answer- Who is the ...

RECA Fundamentals Exam Questions With 100% Correct Answers Which of the following is NOT a RECA educational resource for industry professionals? - answerSpatial Information System (Spin 2) Which entity has the authority to amend the Real Estate Act - answerProvincial 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 - answerConsumer Price Index (CPI) Which of the following will occur to the ...