Comprehensive Alabama Real Estate Q&A Bundle

broker who operates a brokerage business within the corporate city limits of Montgomery A. maintain maintain his place of business in his home B. May not hire sales people C. must be sure his/her office is located in property zone for business (answer) D. all of the above Any person desiring to mak...

The consumer member of the Alabama Real Estate Commission must be_____ years of age or older. - 21 Prior to the appointment of each original appointee to the Alabama Real Estate Commission, these persons must have been residents and citizens of Alabama for a minimum of -three years. -five years. ...

Alabama Real Estate Commission (AREC) issues the following types of AL Real Estate Licenses Qualifying Broker Associate Broker Salesperson (Temporary salesman license and permanent salesperson license) Company To become a broker, a person must do what two things Complete a 60 hr Broker Pre-License ...

Alabama Legislators Create/write the law Real Estate Commissioners write the rules and regulations/hold just as much weight as law Purpose of the Alabama real estate commission (AREC) adopt and enforce rules and regulations do all things necessary to enforce Alabama license law Mission to protect...

"To uphold, protect, and promote the public interest, which embraces the interests of regulated licensees and entities and the interest of consumers, by the fair and impartial development and administration of licensing laws and regulations." Alabama Real Estate Commission Mission Statement Protect...

A ___________ agency is created when a broker designates another real estate agent in the same office to represent either a buyer or a seller because they cannot fully represent both parties being a dual agency. designated agency A _________ agency gives the agent authority to do one specific thing...

15 days AREC must give __?____ days notice of the hearing? 30 days How many days does AREC have to give before their decision is stated? 30 days Following a hearing, How many days does the licensee have to decide if they will accept the decision of AREC or appeal it? Estimated closing statement N...

15 days AREC must give __?____ days notice of the hearing? 30 days How many days does AREC have to give before their decision is stated? 30 days How many days does the licensee have to decide if they will accept the decision of AREC or appeal it? conversion spending earnest money = theft misuse ...

A salesperson discovers an error on the closing statement. Who is responsible for ensuring the accuracy of closing statements? A) The salesperson is responsible B) The salesperson's broker is responsible C) The title company is responsible D) The attorney is responsibleB) The salesperson's broker is...

The Alabama Real Estate License Law requires licenses for _____.brokers and salespeople Someone who receives compensation from a principal for buying, selling, leasing, renting, exchanging, or optioning real property is a real estate _____.broker In order to sell property in Alabama, an individual...

In which of these matters is AREC most likely to get involved? Adam has been engaging in real estate activities, but his license lapsed five years ago The ______ enforces Alabama real estate rules and regulations. Alabama Real Estate Commission Where will you find official documentation about the ...

Which of these people can be helped by Alabama's real estate regulations? A) Dale found a small shed that he wants to buy for his backyard. However, the shed is used, and he's not sure if it's well made. B) Lucy wants to rent an apartment. She found one that looks nice, but she's not sure that the l...

The end result of rescinding the contract is that? The contract is null and void If a contractor is planning to build a new apartment complex he or she needs to consult the Americans with disabilities act standards to Avoid any potential find by the United States Attorney General What is true rega...

A buyer's agent receives a written offer on a single family residence that her buyers wish to submit. What must the agent provide to her buyer at the time the buyer signs the written offer? A. An explanation of limited dual consensual agency. B. A copy of the Alabama Consumer Information booklet. C...