A missouri broker - Study guides, Class notes & Summaries

Missouri Real Estate A license may be granted to which of the following ️An applicant who filed bankruptcy in the last 5 years Broker Ty appoints salesperson Edwina as a buyer's agent and salesperson Edmond as a seller's agent. Why is Broker Ty doing this ️To avoid dual agency A broker in a written agreement with a landlord: ️Is a landlord's agent Selling a home "as is" ️Does not relieve a licensee from disclosing known adverse material facts. If the Missouri Real Esta...

The MREC requires the brokers for the buyer and seller to retain legible copies of both buyer's and seller's signed closing statements - 3 years By what title is Chapter 339 of the Missouri State Statutes also known? - The license law If the buyer and seller are represented by different brokers, it is the responsibility of ________ to deliver, or cause to have delivered, the closing statements. - listing broker Broker Kelley took a listing from seller Smith. Which of the following stateme...

Missouri Real Estate Broker Exam (2023) | Questions & Answers (100% Verified)Missouri Real Estate Broker Exam (2023) | Questions & Answers (100% Verified)Missouri Real Estate Broker Exam (2023) | Questions & Answers (100% Verified)Missouri Real Estate Broker Exam (2023) | Questions & Answers (100% Verified)Heterogeneity or Nonhomogeneity - ANSWER - Every parcel of land is different Immobility - ANSWER - Location of a parcel of land can never be changed Durable - ANSWER - Refers to land tha...

Which of the following is a true statement about investigations into licensees once a complaint has been filed with the MREC? A. Licensees are required to respond to the complaint in writing and make records available to the MREC. B. The Administrative Hearing Commission is responsible for investigating the matter to determine whether it's likely that the licensee violated license law. C. The MREC has the authority to conduct a formal hearing to determine whether the licensee has violate...

MO Real Estate Exam Practice Questions and Answers Mo Statute 339 - Correct Answer ️️ -License Law RSMO 1986 License Law - Correct Answer ️️ -Any person who performs a RE service on behalf of another party for CONSIDERATION must be licensed; i.e. broker transactions, managing property, appraising, counseling, syndicating, auctioning Consideration - Correct Answer ️️ -Includes $ compensation, exchange of free services, or any other valuable good or service that a person expects...

Real Estate Exam- Missouri Portion only Questions and Answers 7 Members. Have to have been a us citizen for 1 year at least. Appointed by the governor with consent of the Missouri senate. 6 members must have been licensed brokers for 10 years. 1 member from general public. - Correct Answer ️️ -The MREC is made up of All members to vote. Members may hold an inactive license during employment. Cannot be actively involved in the real estate business. $75 a day when meeting. Plus expense...

Real Estate Exam- Missouri Portion Only Graded A+ MREC Composition - The MREC consists of: ️7 members who must be U.S. citizens for at least one year. They are appointed by the governor with the Missouri Senate's consent. Six members should have been licensed brokers for at least 10 years, with one member representing the general public. MREC Responsibilities - Voting and Licensing: ️All members have voting rights. Members may hold an inactive license while employed and cannot eng...

Missouri State License Law Guaranteed Solutions License Requirements and Exceptions - A developer wanted to sell land in their own recently developed subdivision. Does the developer need a license in Missouri to sell this land? No, since he is the owner of the land. - An unlicensed clerical employee of a real estate brokerage is showing listed property to a buyer. Is this legal? No, this would be a violation of Missouri License law as only real estate licensees can show property....

MO REAL ESTATE EXAM PRACTICE REVIEW QUESTIONS AND ANSWERS, GRADED A+/ VERIFIED/ Mo Statute 339 - -License Law RSMO 1986 License Law - -Any person who performs a RE service on behalf of another party for CONSIDERATION must be licensed; i.e. broker transactions, managing property, appraising, counseling, syndicating, auctioning Consideration - -Includes $ compensation, exchange of free services, or any other valuable good or service that a person expects to be paid (Vital in license law...

Real Estate Practice Exam (Missouri) Questions and Answers An ad in the local paper was placed by Sarah, a licensed salesperson, on behalf of her seller. The ad reads "Beautiful country lots located on Lake Ivory. Must see! With the purchase of one gorgeous lakeside lot, you will receive a second free. Plus, all purchasers' names will be entered into our lottery sweepstakes! Come soon while lots are still available." Which of the following statements concerning the ad is the most accur...