Mo real estate - Study guides, Class notes & Summaries

MO Real Estate Exam Practice Guaranteed Success Missouri Statute 339 - License Law RSMO 1986: This law mandates that anyone providing real estate (RE) services for compensation must obtain a license. This includes activities like brokering transactions, managing properties, appraising, counseling, syndicating, and auctioning. - Consideration: This term encompasses monetary compensation, the exchange of services, or any other valuable goods or services for which a person expects to receiv...

MO Real Estate Exam Practice Questions and Answers Rated A 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 requirement) MO Real Estate Commissio...

MO Real Estate Exam Practice Exam Question And Answers 2024

MO Real Estate State Portion Guaranteed A+ If a licensee violates a provision of the Missouri License Law, the licensee: ️ Shall be guilty of a class B misdemeanor and may be subject to criminal prosecution. A broker takes a listing; which situation is illegal in Missouri? ️ The seller receives 94% of the list price, and the broker is to receive all amounts above that. If a licensee breaches fiduciary duties to the principal, which action could not be taken against the licensee? ...

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...

MO Real Estate Guaranteed Success Commercial real estate, as defined by Missouri real estate commission general rules, includes real estate ️with stores or office buildings. Which of the following activities would be considered a ministerial act under Missouri statute? ️Accompanying an appraiser, inspector, contractor, or similar third party on a visit to a property In general, residential real estate is defined as real property improved by a structure that is used, or intended t...

MO Real Estate Exam Practice Question with Complete Solution_UPDATED

MO Real Estate State Portion Questions and Answers Already Passed If a licensee violates a provision of the Missouri License Law, the licensee: Shall be guilty of a class B misdemeanor and may be liable for criminal prosecution A broker takes a listing, which one is illegal in Missouri? Seller collects 94% of list price and broker is to get all above that If a licensee breaches his fiduciary responsibilities to the principal, which of the following actions could not be taken against the licens...

Mo Statute 339 - ANSWER-License Law RSMO 1986 License Law - 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 - ANSWER-Includes $ compensation, exchange of free services, or any other valuable good or service that a person expects to be paid (Vital in license law requirement) MO Real Estate Commission (MREC) - ANSWER--authori...

MO Real Estate "Cheat Sheet" Guaranteed Success What is Chapter 339? ️ It is the license law governing real estate activities. What does "commission" refer to? ️ It refers to the Missouri Real Estate Commission. Who needs a real estate license? ️ Individuals who perform, offer, or aid in various real estate activities, and those who receive compensation for these actions, including advertising services in Missouri. Must salespeople be affiliated with a broker? ️ Yes. Wh...