A real estate salespe - Study guides, Class notes & Summaries

IN MA: Who governs licensure in the State of MA? - Correct answer- The Board of Registration of Real Estate Brokers and Salespersons, part of the Division of Occupational Licensure Founded in 1960 Governor appoints 5 members - 3 are licensed brokers with at least 7 years of experience and 2 are un-licensed members of the public What are the requirements of a salesperson's license? - Correct answer- 1. Must affiliate with a broker 2. Cannot accept direct client payments 3. IN MA: At lea...

Contract An agreement between two or more parties that is enforceable in court Requirements for a Valid Contract (1)Offer and Acceptance (2)Consideration (3)Legally Competent Parties (4)Legal Purpose (5)Consent (6)Statute of Frauds Contracts must be voluntary! Breach of Contract Master01 | October, 2024/2025 | Latest update 1 | P a g e | © copyright 2024/2025 | Grade A+ A failure to perform, as promised, at the time the performance was due. Assignment a transfer of rights...

PA Real Estate Salesperson Certification Exam - State Portion Exam Questions & Answers (100% Correct) PA Real Estate Salesperson Certification Exam - State Portion Exam Questions & Answers (100% Correct) What is a type of contract in which two parties are legally bound to act? - ANSWER-Bilateral What is one kind of real property depreciation caused by poor design? - ANSWER-Functional Obsolence What is the name of the party who aquires the title to real property in a deed? - ANSWER-Gran...

AGENCY RELATIONSHIP A relationship whereby the broker or licensees in the employ of the broker act as fiduciaries for a consumer of real estate services by the express authority of the consumer of real estate services. ASSOCIATE BROKER A broker employed by another broker. BROKER Any person who, for another and for a fee, commission or other valuable consideration: (1) negotiates with or aids any person in locating or obtaining for purchase, lease or an acquisition of interest i...

GA Real Estate Salesperson Contract Study Test Questions and Accurate Answers.

Advertising From RELRA You can be fined up to $1000 or license revoked for (1)Placing a "for sale" or "for rent" sign on or advertising any property without the written consent of the owner, or his authorized agent, or (2)Soliciting, selling or offering for sale real property by offering free lots, or conducting lotteries or contests or offering prizes for the purpose of influencing by deceptive conduct any purchaser or prospective purchaser of real property. Advertisi...

Stock in a mutual water company is best described as: Real Property When two ore more parties own real property as co-owners with the right of survivorship, what is the tenancy called? Joint Tenancy How long must one use another's land open and notoriously to obtain an easement by prescription? 5 years Adverse possession is an example of how title to land an be acquired by: Occupancy In the Rectangular Survey System, what would one call the lines running East and West? Base lines ...

Nevada Real Estate Salesperson State Questions with 100% Correct Answers A Seller's Real Property Disclosure document is required for all the following properties, EXCEPT a(n): a) For Sale by Owner b) New Home c) Resale d) Home that has been inspected by a certified home inspector - Answer- b (New Home) A Nevada licensee must give the Duties Owed by a Nevada licensee form to prospective purchasers/tenants: a) before they are shown any properties b) at an open house c) at the close ...

Nevada Real Estate Salesperson State Questions with 100% Correct Answers A Seller's Real Property Disclosure document is required for all the following properties, EXCEPT a(n): a) For Sale by Owner b) New Home c) Resale d) Home that has been inspected by a certified home inspector - Answer- b (New Home) A Nevada licensee must give the Duties Owed by a Nevada licensee form to prospective purchasers/tenants: a) before they are shown any properties b) at an open house c) at the close ...