Pa real estate 1 - Study guides, Class notes & Summaries

A broker is found guilty and ordered to pay monetary damages to a consumer. What timeframe must the injured party file a claim for payment from the real estate recovery fund? - Answer-Injured parties must file claim to real estate recovery fund one year after termination of proceedings in connection to judgement awarded consumer. What statement is TRUE regarding the real estate recovery fund? - Answer-An agreement of sale must contain disclosure language advising parties of the existence of t...

NATIONAL PSI EXAM PRACTICE TEST ANSWERED 100% CORRECTLY Real Estate law governing advertising applies to all of these EXCEPT: A. In house notes for showing B. Multiple listing service (MLS) C. communications with consumers D. Social Media - answerA. In-house notes for showing are not seen by consumers an so do not have to follow state or federal laws. A couple accompanies a property inspector during an inspection of a house on which they have a contract. The inspector points to a six-in...

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

Real Estate Practice Exam Questions and Answers with Verified Solutions 1. Brokerage definition... the business practice of bringing together the parties in a practice. 2. What are two examples of special use property? schools and cemetary 3. What is an example of functional obsolescence? bathroom 4. Principal definition... 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... the...

PA real estate state portion questions and answers 100% guaranteed success. a. consumer notice - correct answer. When using the services of a real estate licensee to find a residence to lease, a PA consumer must be provided with a. consumer notice b. rental application c. plain language residential lease d. landlords led-based disclosure B. within 30 days - correct answer. according to the Pennsylvania landlord-tenant act, a tenant must be notified of the final disp...

Exam Question Master 1 T/F - Real estate professionals provide knowledge of market conditions - ANS True The product that real estate licensees market is - ANS Expert Information Real estate professionals provide expert information in three areas: - ANS Property transfer, market conditions, and how to market real estate and businesses. D.B.P.R (Department of Business and Professional Regulation) main office location - ANS - Located in Tallahassee, FL. DRE (Divisio...

PA -REAL ESTATE EXAM questions and answers latest top score. 1. A listing broker procures a ready, willing, and able buyer for his or her seller-principal. The seller first accepts the buyer's offer in writing, then experiences a change of heart and withdraws the original acceptance. In this situation, the broker... - correct answer. 1. 1. The broker has fulfilled his obligation under the terms of the listing contract with the seller by procuring a ready, willing, and ...

The final step a licensee will take when preparing a CMA is: 1. Choosing comparables 2. Estimating a reasonable selling price range 3. Making adjustments to comparables 4. Collecting and analyzing information CORRECT ANSWER: Estimating a reasonable selling price range A broker price opinion must include what the price was based on and: 1. License number 2. The broker's phone number 3. Applicable market data 4. A legal description CORRECT ANSWER: Applicable market data...

Pa practice Exam questions and answers 100% guaranteed success. What are the consequences when a real estate salesperson is found guilty of violating any provision of the Pennsylvania Human Relations Act? The employing broker is liable for the conduct of the salesperson, so the employing broker will also be guilty of the violation. The Pennsylvania Human Relations Commission will notify the state real estate commission of findings of violations against licensees under ...

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