Nyrei school - Study guides, Class notes & Summaries

NYREI School Exam Questions With 100% Correct Answers 2023

NYREI School Exam Questions and Answers (100% Verified) Latest 2024/2025 Graded A+. What is the minimum licensing requirement to sell commercial real estate in New York? - ANSWER a real estate salesperson's license What is the preferred method of creating an agency relationship? - ANSWER expressed agency An amenity purchaser - ANSWER occupies or uses the purchased property Condominium units are considered _____ property and are conveyed by _____. - ANSWER real / deed A salesperson who is...

NYREI SCHOOL EXAM STUDY

What is the minimum licensing requirement to sell commercial real estate in New York? - correct answer a real estate salesperson's license What is the preferred method of creating an agency relationship? - correct answer expressed agency An amenity purchaser - correct answer occupies or uses the purchased property Condominium units are considered _____ property and are conveyed by _____. - correct answer real / deed A salesperson who is an independent contractor - correct a...

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NYREI School Exam With Complete Solution Rated A

NYREI School Test 2024 Age of salesperson - ANSWER ️️ 18 Experience for sales person - ANSWER ️️ No Age of broker - ANSWER ️️ 20 Broker experience - ANSWER ️️ 2 years experience and 3500 points How long to reapply for license - ANSWER ️️ One full year Confidentiality - ANSWER ️️ Last forever Commission earned - ANSWER ️️ When bringing a ready, willing and able buyer; meeting of the minds Cooperative transaction - ANSWER ️️ Seller no fiduciary obligations ...

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Chapter 1 - correct answers--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 answers--Principal/ Client - hires agent While customer can see multiple brokers, clients cannot. Licensees are special, not general ...

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