Explore the complexities of New York real estate through our specialized Q&A package. Delve into the unique landscape of the property market, unravel legal intricacies, and equip yourself with knowledge essential for success. This comprehensive bundle is your go-to resource for mastering the speci...
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In NYS, how old must one be to enter into contracts? 18 What other capability should they possess? Mental and emotional capability What happens if one of the parties to the contract is a minor? The contract is voidable by the minor What does the zoning board of appeals do? Grants variances ...
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Add to cartIn NYS, how old must one be to enter into contracts? 18 What other capability should they possess? Mental and emotional capability What happens if one of the parties to the contract is a minor? The contract is voidable by the minor What does the zoning board of appeals do? Grants variances ...
What agency issues real estate licenses? The New York State Department of State (NYDOS), Divison of Licensing Services At what age can you become a real estate salesperson? 18 Do you need experience in the field to become a sales person? No What is the minimum age to become a real estate broker...
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Add to cartWhat agency issues real estate licenses? The New York State Department of State (NYDOS), Divison of Licensing Services At what age can you become a real estate salesperson? 18 Do you need experience in the field to become a sales person? No What is the minimum age to become a real estate broker...
1-A broker legitimately may pay all or part of Real estate commission to a a. seller b. salesperson c. buyer d. friend who provides a listing lead -B: Salesperson can accept compensation only from their sponsoring broker. 2-The minimum age for a New York real estate broker's license is a. 1...
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Add to cart1-A broker legitimately may pay all or part of Real estate commission to a a. seller b. salesperson c. buyer d. friend who provides a listing lead -B: Salesperson can accept compensation only from their sponsoring broker. 2-The minimum age for a New York real estate broker's license is a. 1...
The situation with the most potential for conflict is when a real estate licensee acts as a: -Dual Agent -Buyers Broker -Sellers Agent -Transaction Broker -Dual Agent A seller has listed her home with a broker for $90,000, and the broker tells a prospective buyer to submit a low offer because...
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Add to cartThe situation with the most potential for conflict is when a real estate licensee acts as a: -Dual Agent -Buyers Broker -Sellers Agent -Transaction Broker -Dual Agent A seller has listed her home with a broker for $90,000, and the broker tells a prospective buyer to submit a low offer because...
An agency relationship is determined by: a) the source of compensation b) how well the parties know each other c) agreement between the principal and the agent d) first substantive contract c) agreement between the principal and the agent Heat from outside air is utilized through a: se conditi...
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Add to cartAn agency relationship is determined by: a) the source of compensation b) how well the parties know each other c) agreement between the principal and the agent d) first substantive contract c) agreement between the principal and the agent Heat from outside air is utilized through a: se conditi...
How often must you renew your real estate salesperson/broker license? Every 2 years What is the purpose of license laws in the real estate industry? To minimize fraudulent practice and protect the general public The New York regulatory agency that oversees real estate licensure is the: Depar...
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Add to cartHow often must you renew your real estate salesperson/broker license? Every 2 years What is the purpose of license laws in the real estate industry? To minimize fraudulent practice and protect the general public The New York regulatory agency that oversees real estate licensure is the: Depar...
Article 12A: NYS Real Property Law "Real Estate License Law" - violation is a misdemeanor punishable by loss of license, $1000 fine, revoking of license - all salespersons have license suspended - after 1 year broker can apply to get license back Capital Gains Tax Exemption -profit from sa...
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Add to cartArticle 12A: NYS Real Property Law "Real Estate License Law" - violation is a misdemeanor punishable by loss of license, $1000 fine, revoking of license - all salespersons have license suspended - after 1 year broker can apply to get license back Capital Gains Tax Exemption -profit from sa...
1. To be licensed as a real estate broker, an individual must be at least how old? a. 16 b. 18 c. 20 d. 21 c. 20 2. Which of the following individuals is exempt from licensure? a. attorneys admitted to practice in the New York courts b. property managers who manage property for more tha...
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Add to cart1. To be licensed as a real estate broker, an individual must be at least how old? a. 16 b. 18 c. 20 d. 21 c. 20 2. Which of the following individuals is exempt from licensure? a. attorneys admitted to practice in the New York courts b. property managers who manage property for more tha...
Independent contractor must pay their own expenses. According to IRS code section 3508[A, B], real estate agents are statutory non-employees and are therefore independent contractors. The code also states that there must be a written contract between the broker and the sales associate, als...
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Add to cartIndependent contractor must pay their own expenses. According to IRS code section 3508[A, B], real estate agents are statutory non-employees and are therefore independent contractors. The code also states that there must be a written contract between the broker and the sales associate, als...
What agency issues real estate licenses? NYS DOS, DIVISION OF LICENSING At what age can you become a real estate salesperson? 18 Do you need experience in the field to become a salesperson? No What is the minimum age to become a real estate broker? 20 Do you need experience in the field to becom...
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Add to cartWhat agency issues real estate licenses? NYS DOS, DIVISION OF LICENSING At what age can you become a real estate salesperson? 18 Do you need experience in the field to become a salesperson? No What is the minimum age to become a real estate broker? 20 Do you need experience in the field to becom...
Which of the following statements about license laws is INCORRECT? The federal government establish license laws In New York, an individual may obtain a salesperson license at age: 18 A salesperson licensee may receive commissions from the: Employing broker Which of the following does NOT apply...
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Add to cartWhich of the following statements about license laws is INCORRECT? The federal government establish license laws In New York, an individual may obtain a salesperson license at age: 18 A salesperson licensee may receive commissions from the: Employing broker Which of the following does NOT apply...
According to the New York State real property law, a real estate salespersons license is issued for a term of how many years? 2 years 2. What type of residential real property transfer would require a property condition disclosure statement? Newly constructed property that has not been previous...
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Add to cartAccording to the New York State real property law, a real estate salespersons license is issued for a term of how many years? 2 years 2. What type of residential real property transfer would require a property condition disclosure statement? Newly constructed property that has not been previous...
Abstract of Title A summary of all of the recorded instruments and proceedings which the title to property, arranged in the order in which they were recorded. Acknowledgement A formal declaration before a duly authorized officer by a person who has executed an instrument that such execution is ...
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Add to cartAbstract of Title A summary of all of the recorded instruments and proceedings which the title to property, arranged in the order in which they were recorded. Acknowledgement A formal declaration before a duly authorized officer by a person who has executed an instrument that such execution is ...
As a real estate sales person, i am practicing special agency As a property manager i am practicing general agency In estate planning i am practicing universal agency If its my intention to protect my client,usually the seller,from the vicarious liability, of another licensee, violating the law...
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Add to cartAs a real estate sales person, i am practicing special agency As a property manager i am practicing general agency In estate planning i am practicing universal agency If its my intention to protect my client,usually the seller,from the vicarious liability, of another licensee, violating the law...
Regulation of real estate has been assigned to Department of state Departments within Department of State? Secretary of State and New York Board of Real Estate Secretary of State In charge of administration of licensing, examination, education, and compliance provisions Whats the Department o...
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Add to cartRegulation of real estate has been assigned to Department of state Departments within Department of State? Secretary of State and New York Board of Real Estate Secretary of State In charge of administration of licensing, examination, education, and compliance provisions Whats the Department o...
NYS Department of State primarily responsible for issuing real estate licenses , pocket cards , and handing down disciplinary action Article 12 A outlines the roles / duties of the Department of State New York Court of Appeals the highest court in New York State . A real estate salesperson must...
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Add to cartNYS Department of State primarily responsible for issuing real estate licenses , pocket cards , and handing down disciplinary action Article 12 A outlines the roles / duties of the Department of State New York Court of Appeals the highest court in New York State . A real estate salesperson must...
Associate real estate broker a licensed real estate broker who may perform the acts of a broker but chooses to work under the name and supervision and license of a licensed broker Real estate broker any oersons partnership association or corporation who, for another and for compensation of an...
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Add to cartAssociate real estate broker a licensed real estate broker who may perform the acts of a broker but chooses to work under the name and supervision and license of a licensed broker Real estate broker any oersons partnership association or corporation who, for another and for compensation of an...
Sellers market their property using a __________. listing agreement When the licensee has a buyer brokerage agreement with a purchaser, he or she must represent the best interests of the ___ rather than the ___. buyer,seller In most cases, buyers cannot make a purchase without ____ at least some...
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Add to cartSellers market their property using a __________. listing agreement When the licensee has a buyer brokerage agreement with a purchaser, he or she must represent the best interests of the ___ rather than the ___. buyer,seller In most cases, buyers cannot make a purchase without ____ at least some...
Which NY law allows the DOS to revoke, suspend, fine, or reprimand a real estate broker? A) NY Real Property Law, Article 13 B) NY Real Property Law, Section 442-a C) NY Real Property Law, Section 441-c D) NY Real Property Law, Article 15-A C) NY Real Property Law, Section 441-c How many memb...
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Add to cartWhich NY law allows the DOS to revoke, suspend, fine, or reprimand a real estate broker? A) NY Real Property Law, Article 13 B) NY Real Property Law, Section 442-a C) NY Real Property Law, Section 441-c D) NY Real Property Law, Article 15-A C) NY Real Property Law, Section 441-c How many memb...
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