Relra - Study guides, Class notes & Summaries

Exam 1 (PA) Questions and Answers 2023 Which of these correctly describes the Pennsylvania Real Estate Commission? Eleven members, of whom five are licensed real estate brokers, three are members of the public, and one is licensed as a cemetery broker. A listing broker shares the compensation paid by the seller with the buyer's broker. The plan to share compensation was agreed to in writing by the seller. What's true about this situation? Without written agreement from all parties ...

In order to become a member of the Pennsylvania Real Estate Commission, a candidate must: - Answer-be appointed by governor A broker is ordered to pay monetary damages to a buyer. What is the time frame within which the injured party may file a claim for payment from the Real Estate Recovery Fund? - Answer-A claim for payment from the recovery fund must be made no more than one year after the termination of the proceedings, including reviews and appeals in connection with the judgment. Wha...

police power - Answer-The legal basis for the Pennsylvania license law is derived from the state's 11 - Answer-The Pennsylvania Real Estate Commission is composed of members. C.5 - Answer-How many members of the Pennsylvania Real Estate Commission must be licensed real estate brokers? public members - Answer-Three members of the Pennsylvania Real Estate Commission must be a majority of currently serving - Answer-A quorum for the Pennsylvania Real Estate Commission is members. app...

Broker of Record (Employing Broker) - Answer-The individual broker responsible for the real estate transactions and activities of licensees in a partnership or corporation. Associate Broker - Answer-an individual who meets the licensure requirements to be a real estate broker but provides real estate brokerage services as an independent contractor to a employing broker Sales Person Considered an Independent Contractor or Employee? - Answer-The RELRA at establishes that the activities for w...

PA State Laws Graded A+ When does your real estate license expire in Pennsylvania? May 31 of every even numbered year Larry, a Pennsylvania broker, provided a copy of the Consumer Notice to a prospective buyer prior to entering into an agency relationship and showing the buyer several properties. How long must he retain a copy of the notice? at least 6 months Under Pennsylvania law, which of these items would a licensee need to disclose to any consumers? A)A buyer is willing to offer...

PA State Real Estate Exam (2022/2023) Already Passed RELRA and State RE Commission Rules and Regs are laws.. that govern how licensees provide real estate services in PA Broker of record is responsible for.. all activities performed by an affiliated licensees Appraisal process of estimating a property's market value, based on established methods, and professional opinion Appraisers must be certified by the... State Board of Certified Appraisers to engage in this activity Home Inspectors are...

PA State Real Estate Exam Questions and Answers 2023 RELRA and State RE Commission Rules and Regs are laws.. that govern how licensees provide real estate services in PA Broker of record is responsible for.. all activities performed by an affiliated licensees Appraisal process of estimating a property's market value, based on established methods, and professional opinion Appraisers must be certified by the... State Board of Certified Appraisers to engage in this activi...

PA Real Estate State Portion; Questions and Answers RELRA Correct Answer-Real estate licensing and registration act - the commission is responsible for administrating and enforcing rules found in RELRA as well as supervising all activities RELRA comission members: Correct Answer-appointed by the Governor for 5 year terms. meet on regular basis as needed, but conduct at least one public meeting in 3 citie

PA Real Estate State Portion With Complete Solution

RELRA and State RE Commission Rules and Regs are laws.. that govern how licensees provide real estate services in PA Broker of record is responsible for.. all activities performed by an affiliated licensees Appraisal process of estimating a property's market value, based on established methods, and professional opinion Appraisers must be certified by the... State Board of Certified Appraisers to engage in this activity Home Inspectors are prohibited from offering...