A realtor® - Study guides, Class notes & Summaries

Steven just successfully finished his required real estate pre-licensing course. Which statement is TRUE? A. Once he joins the NAR, he can call himself a REALTOR®. B. Once he passes the state exam, he can call himself a REALTOR®. C. Once he has his real estate license, he can call himself a REALTOR®. D. Once he affiliates with a broker, he can call himself a REALTOR®. - Answer-A. Once he joins the NAR, he can call himself a REALTOR®. What acronym can you use to remember the broad f...

REAL ESTATE ACEABLE SMALL QUIZZES LVL 1 QUESTIONS AND ANSWERS, GRADED A+ Duplex, triplex, or fourplex residences are all considered - -Multifamily residences. The building and the land are owned just as in a single family dwelling; however, there are separate residences in the building. Industrial real estate does NOT include: a warehouse a manufacturing facility a triplex a distribution center - -A Triplex. Industrial real estate includes manufacturing facilities, warehouses, distri...

Chapter 1: The Real Estate Profession + Chapter 2: Getting a Real Estate License Questions And Answers Broker - ANS-Any person, partnership, association, limited liability partnership, limited liability company, or corporation who, for a fee, sells, lists, leases, exchanges, negotiates, or otherwise deals in the real estate of others, or represents publicly that he does. Independent Contractor - ANS-A self-employed salesperson paid on jobs completed rather than hours worked and resp...

Brokerage - the business of bringing people together in a real estate transaction real estate licensee - acts as a point of contact between two or more people in negotiating the sale, purchase, or rental of property. A real estate licensee may be the agent for the buyer, for the seller, or for both llinois license categories - broker, managing broker, and leasing agent Appraisal - is the process of estimating a property's market value based on established methods and the appraiser's p...

360 Training Lesson Assessments What is the name of an institute that NAR has developed? - The Institute of Real Estate Management Feedback: The NAR has developed special institutes that have designations and certifications in specialized areas of real estate. Examples include the Realtors National Marketing Institute and The Institute of Real Estate Management. Under a listing contract, the real estate firm becomes _______. - The agent of the seller Feedback: Under a listing co...

Absentee Owner - A property holder who does not reside on the property and who usually relies on a property manager to manage the investment. Appraisal - The process of developing and communicating an estimate of a property's Appraiser - Appraisers charge a fee based on the time and difficulty of the appraisal assignment and are not paid commission. Broker Price Opinion (BPO) - A broker's written opinion of the value of a particular property that may not be used in connection with the or...

Here are the four major types of agency acts: Listing Buying Leasing Property Management TREC's purpose is to regulate educational and licensing programs that maintain standards AND interpret legislation that affects the real estate profession — primarily the Texas Real Estate License Act (TRELA). Integrity Satisfy to the commission (TREC) that the candidate meets and exceeds their character standards (honesty, trustworthiness, and integrity). Competence Demonstrate competence by pas...

Gold Coast End of chapter Questions 1-19 | Questions and Correct Answers | Latest Update 2024/2025 | 100% PASS Which of the following statements is true regarding a mortgage loan originator? - Answer -A mortgage loan originator must have a separate license. A real estate appraiser's fee for professional service is based on which of the following? - Answer -The time and difficulty of the appraisal Which of the following best describes the real estate brokerage business? - Answer -Se...

Chapter 1 - Gold Coast Real Estate Homework Questions and Answers 100% Pass Which of the following statements is true regarding a mortgage loan originator (MLO)? (a) A mortgage loan originator is the same as a mortgage broker. (b) A mortgage loan originator must have a separate license. (c) A mortgage loan originator makes loans. (d) A mortgage loan originator must have a real estate license. - Correct Answer ️️ -(b) A mortgage loan originator must have a separate license. A real est...

Here are the four major types of agency acts: - correct answer -Listing Buying Leasing Property Management TREC's purpose is to - correct answer -regulate educational and licensing programs that maintain standards AND interpret legislation that affects the real estate profession — primarily the Texas Real Estate License Act (TRELA). Integrity - correct answer -Satisfy to the commission (TREC) that the candidate meets and exceeds their character standards (honesty, trustworthiness, an...