A missouri broker - Study guides, Class notes & Summaries

Karen and David Carpenter are a team. They have one employee and four sales agents; they also enjoy flipping properties. David asks one of the sales agents to write an offer for him but to use the company name instead of his first and last name. David's offer is accepted, he puts a fresh coat of paint on the property, and then sells it for considerably more. What has David done? - Self-Dealing. Alice forgot to lock the windows that she opened to let in fresh air at her open house and the ho...

Missouri State Portion Licenses Guaranteed Success Applying for a Broker's License ️ To obtain a broker's license, a person must be actively licensed as a salesperson for a minimum of 24 of the immediately preceding 30 months prior to application for the broker's license. The application for a broker's license must be accompanied by certification from the salesperson's broker that the salesperson has actively worked in the real estate business for at least 24 of the immediately ...

REAL ESTATE PRACTICE EXAM (MISSOURI) EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+/ An ad in the local paper was placed by Sarah, a licensed salesperson, on behalf of her seller. The ad reads "Beautiful country lots located on Lake Ivory. Must see! With the purchase of one gorgeous lakeside lot, you will receive a second free. Plus, all purchasers' names will be entered into our lottery sweepstakes! Come soon while lots are still available." Which of the following statements concernin...

Missouri State Portion Business Conduct and Practices - Improper Use of License and Office ️ **All brokers including individual brokers, designated brokers, and office managers/supervising brokers are responsible for supervising the real estate-related activities of all licensed and unlicensed persons associated with them. This includes the protection of any confidential information.** - In addition to the above, 2250-8.020 (2)(A) & (B) says, "A broker shall not permit licensed and un...

Missouri Real Estate Law Guaranteed Success What is the primary purpose of Chapter 339 of the Missouri Statutes? ️ To protect the public by regulating the actions of licensees to ensure compliance with the real estate license law. Would a person assisting in telemarketing the broker's services need a license under Missouri Law? ️ Yes. Auctioneer Grant is negotiating to auction off some items for a farm family. If the farmer asks Grant to also auction the farm, would Grant need a...

Mary Beth, a motel clerk at the Seaside Inn, refers potential buyers to her friend Jane. Mary Beth can: A. Receive a thank you from Jane B. Receive a referral fee from Jane C. Receive a commission from Jane - ANSWER-A. Receive a thank you from Jane A corporation recently opened a real estate office in the state of Missouri. Which of the following is true regarding the licensing of the corporation? A. If the corporation is already licensed in another state, the MREC will require a license ...

What is buyer agency? - ️️An agreement between a buyer and an agent to provide representation, obligating agent to perform fiduciary duties for the buyer Missouri Broker Disclosure Form - ️️Missouri law requires that this form is given to all potential clients. The form lists the types of agency available in the state and offered by a particular brokerage. What does a buyer agency agreement contain? - ️️Terms of the agency relationship between a buyer and the buyer's broker ...

MO STATE LAW FOR REAL ESTATE SALESPERSON EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+ 339 - -Missouri Real Estate License Laws Acquiring Listings - -Illegal for licensee to "initiate" discussion with an owner who has a current "exclusive" listing on property; Owner may initiate discussion with licensee, at which point licensee may write a listing to become effective after expiration of current listing; Party must be given copy of listing "at the time it is signed"; All changes to...

MO Real Estate Exam Study Guide |Graded A+| Mo Statute 339 *Ans* License Law RSMO 1986 License Law *Ans* 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 *Ans* 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 Esta...

After submitting a salesperson application and applicable fee to the Missouri Real Estate Commission, Jethro decided he no longer wishes to pursue a career in real estate. What's the process for having his application fee refunded? - License fees paid to the MREC are nonrefundable. Missouri licensees who fail to respond to the commisison's written request or inquiry within ____ days may face disciplinary action. - 30 In Missouri, providing the Broker Disclosure form to a seller ______. - ...