GA MLS Cram Course Questions and Answers 100% Pass

GA MLS Cram Course Questions and Answers 100% Pass 31 days A licensee should search the National Do Not Call Registry on a regular basis and drop registered consumer phone numbers from their call lists. This should be done at least once every 10 business days Under the CAN-SPAM Act opt-out request must be handled within Yes, the agent can call for up to 3 months after the consumer makes an inquiry A potential buyer attends an "open house" on a listed property and inquires about the sales price. The interested buyer is registered on the Do-Not-Call Registry. Can the salesperson call the interested buyer? $66,800 A property sells for $195,000. The existing loan balance is $114,000 and the seller's closing costs are $2500. What are the sellers net proceeds if the brokerage fee is 6%? 6% A property was listed at $260,000 and sold for $245,000. The closing costs were $2800. The listing broker received a brokerage fee of $14,700. What was the rate of commission? 18 months A brokerage company recently had a listing expire. The seller is on the Do-Not-Call list. After the end of the transaction for how many months may the agents in the listing office call the seller? General Agency What type of agency relationship does a real estate sales associate usually have with their employing broker? deliver the check to their broker Tuesday morning with instructions to hold the check until the officer is accepted An offer to purchase with a $500 earnest money check is received on Monday evening. The offer states the salesperson is to hold the earnest money until the offer is accepted by the seller. Your broker requires all earnest money deposits be turned over to the office manager during normal business hours (9AM to 5PM). The offer does not expire until Thursday and the seller is out of town until Wednesday. The salesperson should In Georgia, open listings do not have to be in writing Which of the following statements about an open listing is INCORRECT? voidable by the offeror An intoxicated buyer made an offer o a seller's property. The seller accepted the offer and communicated the acceptance to the buyer. The contract would be The seller retains legal title In a land contract (contract for deed), which of the following statements is correct? Contracts using email have the same legal significance as those found on paper Under the Electronic Signatures in Global and National Commerce Act (E-Sign), which of the following statements is correct? short sale A borrower is in default of their loan. Rather than experiencing the delay and expense of a foreclosure action the lender agrees to release the mortgage so the property can be sold to a new purchaser. If the sale produces less money than is owned the lender the transaction would be referred to as a handwritten wording takes precedence over the typewritten wording which takes precedence over preprinted wording