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In a timely manner A licensee is representing the seller solely in a real estate transaction. When must the agent disclose his or her agency relationship to the prospective buyer? At first contact A licensee is representing the buyer solely in a real estate transaction. When must the agent disclose his or her agency relationship to the seller or the agent of the seller? No, not without written consent from the seller for dual representation A buyer prospect enters into a buyer agency contract ...

A.A.I.D. - Steps of Advertising This acronym describes the process of grabbing attention through advertising. Attention - ad must grab people's attention Action - ad must inspire action Interest - ad must lead to greater interest beyond initial attention Desire - ad must appeal to the audience's needs and wants A.C.O.L.D - Duties of a Fiduciary Relationship This acronym describes the relationship between a real estate agent and a client. Accountable - agent must account for all funds Ca...

Homeowner Dean owns the Northwestern 1/2 of the Northwestern 1/2 of the Northeastern 1/4 of the southwestern 1/4 of the south western 1/4 of section 31. how many acres is that property? A. 5 acres B. 10 acres C. 80 acres D. 2.5 acres 2 x 2 x 4 x 4 x 4= 256 640/256= 2.5 D. 2.5 acres Seller Gareth is certain there are no clouds on his property's title. What type of deed should he provide buyers to show his assurance of title? A. Special B. Quitclaim C. General warranty D. Permanent C. General...

When are Meeting of the Commission held and where? The Monday following the second Tuesday of the month at the office unless otherwise specified. What is required to appear before the Commission? Notify in 15 days before date in writing, file with the director, nature and purpose, clear and concisely stated with sufficient details. When are you restricted from appearing before the Commission? A person may not appear before the Commission in connection with any matter pending before the Commiss...

Equatible A buyer makes an offer on a seller's house, and the seller accepts. Both parties sign the sales contract. At this point, the buyer has what type of title to the property? Who is ultimately responsible for a salesperson's mistakes in writing a sales contract? The salesperson's principal broker The owners of the smaller model of houses in the neighborhood may find that the values of their homes are affected by what principle? Progression An appraiser is responsible for estimating v...

The members of the Arkansas Real Estate Commission are designated by a. the Arkansas Association of REALTORS™. b. public election estate licensees by election d. governor d. governor All funds received by a broker in connection with an accepted contract on behalf of his principal must be deposited into an escrow or trust account within A) one business day of execution of the offer. B) one business day of receiving the offer. C) three business days of obtaining all signatures for the contract...

Principal broker an individual who performs certain real estate services for another party for compensation. Ultimately responsible for the company's activities, notably the activities of other licensees as well as the business's trust accounts. Real estate duties not requiring license delivery of a lease application or lease. Receiving a lease or lease application for delivery to the principal broker, real estate firm, or owner. Receiving a security deposit, rent payment or related payment f...

The memhbers of the AREC are Appointed by the governor of the state of Arkansas Who investigates and disciplines real estate licensees who have violated real estate licensing laws and regulations? The AREC(ARKANSAS REAL ESTATE COMMISSION if THE arec finds AN UNLICENSED INDIVIDUAL HAS BEEN LISTING A PROPERTY FOR A FEE, THE COMMISSIONERS MAY... IMPOSE A CIVIL PENALTY OF NO MORE THAN $5K ADN MAY REQUIRE REIMBURSEMENT OF ALL COMPENSATION The term of an AREC commissioner appointment is how many ye...

Maximum amount due for a filing fee of a time share interval project $1,000 Time share annual renewal fee $500 A timeshare developer found guilty of a timeshare law in fraction can be fined up to imprisoned for how long $5000 and one year Real estate sales person's license expire when December 31 of each year Who is generally responsible for ensuring that the closing is handled in exact accordance with the contract Principal broker Who makes and enforces the rules by which our real estate ...

Maximum amount due for a filing fee of a time share interval project $1,000 Time share annual renewal fee $500 A timeshare developer found guilty of a timeshare law in fraction can be fined up to imprisoned for how long $5000 and one year Real estate sales person's license expire when December 31 of each year Who is generally responsible for ensuring that the closing is handled in exact accordance with the contract Principal broker Who makes and enforces the rules by which our real estate ...