A listing agreement in w - Study guides, Class notes & Summaries

National Real Estate Exam Prep with Verified Answers Graded A+ 1. Unilateral Contract Contract containing ONE promise given in ex- change for completing an act. NO obligation to act. 2. Bilateral Contract Contract containing TWO promises. Example: A listing agreement is a bilateral contract 3. Client/Principal A person who has entered into an agency relationship w/ a licensee & with whom there is a written

ASREB Test with 100% Correct Solutions A borrower is required to put 10% down for the purchase of a property. The 10% down would be considered... - Correct Answer ️️ -Equity A broker, acting as a property manager, would be considered what type of agent? - Correct Answer ️️ -General A contract has been signed, but title has not yet been passed. The contract is... - Correct Answer ️️ -Executory A house cost $100,000. The buyer is making a down payment of 32,000 and getting a $6...

TN Real Estate Exam Questions And Answers, Over 250 Questions And Correct Answers 2023 Brokerage The business of bringing buyers and sellers together Agency The broker is hired by someone called the client to represent that client in negotiating contracts Independent Contract One who is not an employee-They are paid gross earnings and the broker does not subtract tax/S.S. from their earnings Law that passed to be treated as Independent Contractor TEFRA (Tax, Equity, Fiscal, Responsibil...

NYREI Test Exam With 100% Correct Answers 2023 Chapter 1 - Correct Answer-According to IRS, salespersons are independent contractors (earnings for 1099) Statutory Non-employees Keep records for 3 years Salesperson - 18 +, Broker - 20+ Receive commissions from supervising broker ONLY Broker cannot schedule them or require meetings - only regular supervision Chapter 2, 3, 4 - Correct Answer-Principal/ Client - hires agent While customer can see multiple brokers, clients can...

Constructive eviction - correct answer -Acts done or not done by the landlord which materially disturb or impair tenants occupancy so as the tenant is forced to leave Surrender and acceptance - correct answer -Mutual agreement to terminate lease The residential landlord and tenant act - correct answer -Covers leased structures used as home, residence or sleeping place. EXCLUDES nursing homes, lease to own, dorms, frats, resident managers homes Law of agency - correct answer -Statutory l...

Arkansas Real Estate Law Mid-Term Graded A In a timely manner ️A licensee is representing the seller solely in a real estate transaction. When must the agent disclose his or her agency relationship to the prospective buyer? At first contact ️A licensee is representing the buyer solely in a real estate transaction. When must the agent disclose his or her agency relationship to the seller or the agent of the seller? No, not without written consent from the seller for dual representat...

Rockwell Real Estate Classes WA Final Exam 1 | Questions, Answers and Rationales A buyer purchases a rental home that is fully furnished. The document used to transfer title to the furniture is: a. quitclaim deed b. bill of sale c. special warranty deed d. general warranty deed Deeds transfer title to real estate, a bill of sale is generally needed to transfer title to personal property. Ben receives a life estate in a property, with his nephew Will designated as the remainderman. When Ben die...

National Real Estate Exam Prep |Latest Release| 100% Correct ‘ Unilateral Contract *Ans* Contract containing ONE promise given in exchange for completing an act. NO obligation to act. Bilateral Contract *Ans* Contract containing TWO promises. Example: A listing agreement is a bilateral contract Client/Principal *Ans* A person who has entered into an agency relationship w/ a licensee & with whom there is a written contract Customer *Ans* Any 3rd party w/ whom a licensee works In-Co...

The listing broker is the seller's - correct answeragent A licensee writes an offer for a buyer on the licensee's listing. The buyer is the licensee's - correct answercustomer When a firm is representing only one side of the transaction, the firm is practicing what type of agency? - correct answerSingle agency Multiple Representation may only occur if - correct answerthere is full written consent and disclosure from all parties A broker shall provide a copy of the disclosure form ...

National Real Estate Exam Prep| 100 Unilateral Contract - ANSWER Contract containing ONE promise given in exchange for completing an act. NO obligation to act. Bilateral Contract - ANSWER Contract containing TWO promises. Example: A listing agreement is a bilateral contract Client/Principal - ANSWER A person who has entered into an agency relationship w/ a licensee & with whom there is a written contract Customer - ANSWER Any 3rd party w/ whom a licensee works In-Company Transaction...