Brokerage definition - Study guides, Class notes & Summaries

RECA Unit 1 Quiz Latest Update Graded A+ Which of the following represents an accountability mechanism that RECA must comply with under the Act? A) RECA must prepare for the Minister of Service Alberta an annual report for the previous year end B) RECA must prepare for the Minister of Service Alberta an annual consumer report on the investigations conducted C) RECA must prepare for the Minister of Service Alberta a market report on the industries it regulates D) RECA must prepare...

Bob Hogue - Pre Lic. Test Questions and Answers 100% Pass What is the required continuing education for a Florida real estate licensee? - 14 hours every two years - 20 hours every year - 30 hours every five years - 10 hours every year --- What is a characteristic of a fiduciary relationship? - Casual advice - Loyalty and confidentiality - Limited representation - No obligation --- 2 If a seller provides false information about a property’s condition, the real est...

Maine Real Estate Test 2024/2025 Questions And Answers 100% Accurate Graded A+. For what minimum period of time must a real estate brokerage agency retain copies of rejected offers and counteroffers? A. 1 year B. 2 years C. 3 years D. 5 years - ANSWER-No, rejected offers and counteroffers must be retained for 1 year. A designated broker in Maine is: A. Responsible for the brokerage activities of anyone in her real estate brokerage agency. B. Any licensee with an active Broker license. ...

What does RESPA stand for? What does it mean? - Real Estate Settlement Procedures Act. Getting someone qualified Wha is real estate brokerage? - Real estate brokerage is the business of bringing together buyers and sellers and owners and renters and completing real estate transactions (paid a fee or a commission for services) 5 major sales specialties - "Residential"- 4 or fewer residential units OR agricultural property of 10 or fewer acres. "Commercial" - improved residential proper...

Maine Real Estate Test 2024/2025 Questions And Answers 100% Accurate Graded A+. For what minimum period of time must a real estate brokerage agency retain copies of rejected offers and counteroffers? A. 1 year B. 2 years C. 3 years D. 5 years - ANSWER-No, rejected offers and counteroffers must be retained for 1 year. A designated broker in Maine is: A. Responsible for the brokerage activities of anyone in her real estate brokerage agency. B. Any licensee with an active Broker license. ...

1. Brokerage definition... - correct answer the business practice of bringing together the parties in a practice. 2. What are two examples of special use property? - correct answer schools and cemetary 3. What is an example of functional obsolescence? - correct answer bathroom 4. Principal definition... - correct answer a consumer of real estate services who has entered into an agency relationship with a broker or another licensee employed by a broker. 5. Capitalization definition......

Sue the broker - Answer- Sales associate, Tim, received a signed contract from a buyer and ailed it to the seller. The seller agreed to the terms and the escrow deposit was deposited safely in the brokers escrow account. Tim has a disagreement with his broker and quits. The broker refuses to pau a commission since tim was not in his employ when the contact was actually received and signed. What should tim to? The one who engages the broker in a single agency relationship - Answer- Who is the ...

State Portion Real Estate Exam Questions and Answers Already Passed Not psychologically affected if Reputation of haunted ghost Operate INDIANA property management firm outside of the broker company What is Correct ? Broker me do with formal approval of original managing broke Listing agreement should be delivered to Owner Upon signing Broker hires interactive broker to conduct open house The broker may face disciplinary action for incompetent practice Broker a discovers a former buyers clie...

What does REBBA stand for? : Real Estate and Business Brokers Act Whose role is it to enforce REBBA? : RECO Purpose of REBBA? : provide a framework for the responsive regulation of the real estate profession to protect consumers and ensure the integrity of real estate transactions is upheld. What Ontario government body is responsible for REBBA? : The Ministry of Government and Consumer Services is 'responsible' for REBBA, but it's RECO's role to interpret, enforce and suggest cha...

Fundamentals of Mortgage Brokerage 2024 Graded A+ Which of the following is part of RECA's commitment to consumer protection? What are some benefits that mortgage brokerage trade associations offer their members? Licensing Standards for mortgage industry members Which entity has the authority to amend the Act? Provincial Legislators Which of the following represents an accountability mechanism that RECA must comply with under the Act? Previous Fiscal year In addition to mor...