| latest update 2024/25|WA STATE PORTION EXAM REVIEW QUESTIONS AND ANSWERS, 100% ACCURATE.
2 views 0 purchase
Course
WA REAL STATE
Institution
WA REAL STATE
WA STATE PORTION EXAM REVIEW QUESTIONS AND ANSWERS,
100% ACCURATE.
Business Opprtunity includes (4) - -1 Business
2 Business Entity
3 Good Will
4 Interest in real property
Difference between Residential and Commercial Real Estate - -1-4 units -- Residential
5 and over -- Commercial
Design...
WA STATE PORTI ON EXAM REVIEW QUEST IONS AN D ANSWERS, 100% ACCURATE. Business Opprtunity includes (4) - ✅✅ -1 Business 2 Business Entity 3 Good Will 4 Interest in real property Difference between Residential and Commercial Real Estate - ✅✅ -1-4 units -- Residential 5 and over -- Commercial Designated Broker (2) - ✅✅ -1. Natural person 2. Owns RE firm or controlling inter est Inactive license (2) - ✅✅ -1. Not expired 2. Not affiliated with firm Managing Broker is a (3): - ✅✅ -1. Natural person 2. Under supervision of Designated broker 3. May supervise other brokers or man broker In rental properties, a person employed by t he owner does not need to be licensed, if they (4) - ✅✅ -a) delivering/receiving lease applications; b) Showing rental units; c) providing info about rent; d) assistant of property manager. WA RE Commission (6) - ✅✅ -1. Meet 4 times a year 2. Appointed b y governor 3. At least 2 from east, 2 from west 4. Term 6 years 5. Vice chair elected annually 6. Director + 6 members Experience needed to be a member of WA RE Commission (2) - ✅✅ -1. 5 years in RE 2. 3 in investigation Duties of Director of RE Commission (3) - ✅✅ -1. Enforces laws of licensing 2. Sets Standards for education 3. Suspends licenses To whom all the fees are paid - ✅✅ -State Treasurer Can a person be Director's employee and RE agent at the same time? - ✅✅ -No. License inactive while employed. Can a person work for city, county and be RE agent at the same time? - ✅✅ -Yes. Not responsible before their managing broker while doing transaction for the city. Requirements for RE Firm (8) - ✅✅ -1. Designated broker 2. Active license 3. Unique name. Not confused with nonprofit. 4. Trust account 5. Business ID 6. address 7. Website/email (optional) 8. Application fee paid
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller QuickPass. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.49. You're not tied to anything after your purchase.