Wisconsin real estate - Study guides, Class notes & Summaries

Wisconsin Real Estate License Exam

The foundation upon which real estate brokerage is practiced - ANSWER Agency A legal and ethical relationship created between a real estate firm and a party to a transaction; the party may be a buyer, seller, landlord, or tenant - ANSWER Agency Relationship A written agreement between a firm and a client; the client authorizes the firm to provide brokerage services to the client - ANSWER Agency Agreement What are two agency agreements? - ANSWER Listing Agreement Buyers Agency Agreemen...

Wisconsin Real Estate Exam Questions and Answers

Wisconsin Real Estate Exam ACTUAL Questions and CORRECT Answers A seller signs a listing contract with a firm. Who is the agent and who is the principal? - CORRECT ANSWER - The sales person who is associated with the firm is the agent and the principal is the client. If you are the listing agent and a buyer asks you to write an offer on one of your firm's listings but the buyer does not sign a buyer agreement with your firm, how do you describe the buyer? - CORRECT ANSWER - Customer

Wisconsin Real Estate Pre-Licensing Exam Vocabulary List Exam

Wisconsin Real Estate Exam Correct Questions & verified Answers The foundation upon which real estate brokerage is practiced --correct answer--Agency A legal and ethical relationship created between a real estate firm and a party to a transaction; the party may be a buyer, seller, landlord, or tenant --correct answer--Agency Relationship A written agreement between a firm and a client; the client authorizes the firm to provide brokerage services to the client --correct answer--Agency Agreem...

©THESTAR EXAM SOLUTIONS 2024/2025 ALL RIGHTS RESERVED. 1 | P a g e Wisconsin Real Estate License Exam Study Guide. Agency - answerthe foundation upon which real estate brokerage is practiced. It describes a legal and ethical relationship between a real estate firm and a party to a transaction. Licensee - answerAny person licensed under state law to practice real estate. Broker - answerA person that, for another person, and for commission, money or other thing of value, negotiates or of...

Wisconsin Real Estate Exam Prep Questions and Answers Already Passed A seller signs listing contract with firm. Who is the agent who is the principal? Seller is the principal, firm is the agent. If you are the listing agent and a buyer asks you to write an offer but does not sign an agency agreement, how do you describe the buyer? Customer What kind of agency is the firm practicing if they represent just one party in a transaction? Single Agency When can a firm engage in multiple...

Wisconsin Real Estate Exam Prep Questions and Answers

WISCONSIN REAL ESTATE EXAM STUDY GUIDE WITH COMPLETE SOLUTIONS A seller signs a listing contract with a firm. Who is the agent and who is the principal? ______________ The seller is the principal. The firm is the agent. A buyer asks a listing agent to draft an offer. The buyer does not sign a buyer agency agreement. Is the buyer a customer or a client? The buyer is a customer. What kind of agency is a firm practicing if the firm represents just one party in the transaction? Singl...