Blind advertisement - Study guides, Class notes & Summaries

What is your status under the Internal Revenue code - correct answer A statutory non-employee What is your status under NY Law, and where you are supervised by a Broker - correct answer Independent Contractor How long are records to be maintained for - correct answer 3 years Where do we get our license from - correct answer NY State Department of State Division of Licensing Services How many hours of classes does a salesperson need? Broker? - correct answer Salesperson = 75...

Champions School of Real Estate - Exam Prep With Correct Solutions Graded A+ Buyer Representation Agreement An employment contract obligating a broker to act as a fiduciary to a buyer Implied Agency Agency as a result of customary, usual or typical conditions Broker A properly licensed party who serves a principal in an agency relationship- also called an agent Client A party represented by a broker in an agency relationship - also called a principal Duties of an Agent ...

Buyer Representation Agreement - An employment contract obligating a broker to act as a fiduciary to a buyer Implied Agency - Agency as a result of customary, usual or typical conditions Broker - A properly licensed party who serves a principal in an agency relationship- also called an agent Client - A party represented by a broker in an agency relationship - also called a principal Duties of an Agent - An agent owes his client obedience, loyalty, disclosure, confidentiality, accounting a...

Champions School of Real Estate - Exam Prep Buyer Representation Agreement An employment contract obligating a broker to act as a fiduciary to a buyer Implied Agency Agency as a result of customary, usual or typical conditions Broker A properly licensed party who serves a principal in an agency relationship- also called an agent Client A party represented by a broker in an agency relationship - also called a principal Duties of an Agent An agent owes his client obedienc...

CO REAL ESTATE CONTRACTS & REGULATIONS EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+/ Real Estate Recovery Funds - -This is a fund maintained specifically for reimbursing members of the public who have been injured by a licensee's actions or omissions in a real estate transaction, and who have no other recourse against the licensee. A recovery fund is usually funded with a portion of the license application and renewal fees collected by the state's real estate licensing agency Transact...

Department of State responsibility? - Answer Responsible for issuing real estate licenses, pock cards, and handing down disciplinary action. Article 12-A NYS real property law outlines - Answer Roles and responsibilities of department of state. Typical commission in NY? - Answer 6% Commissions are ______ and determined by____? - Answer -Negotiable -both client and broker Blind ad - Answer An ad that remains anonymous as to who is advertising. Which is illegal Wh...

What is your status under the Internal Revenue code A statutory non-employee What is your status under NY Law, and where you are supervised by a Broker Independent Contractor How long are records to be maintained for 3 years Where do we get our license from NY State Department of State Division of Licensing Services How many hours of classes does a salesperson need? Broker? Salesperson = 75 / Broker = 120 What are the age requirements for Salesperson? Brok...

Department of State responsibility? - correct answer Responsible for issuing real estate licenses, pock cards, and handing down disciplinary action. Article 12-A NYS real property law outlines - correct answer Roles and responsibilities of department of state. Typical commission in NY? - correct answer 6% Commissions are ______ and determined by____? - correct answer -Negotiable -both client and broker Blind ad - correct answer An ad that remains anonymous as to who is ...

Department of State responsibility? - ans-Responsible for issuing real estate licenses, pock cards, and handing down disciplinary action. Article 12-A NYS real property law outlines - ans-Roles and responsibilities of department of state. Typical commission in NY? - ans-6% Commissions are ______ and determined by____? - ans--Negotiable -both client and broker Blind ad - ans-An ad that remains anonymous as to who is advertising. Which is illegal What must be incl...

The Department of State - Primarily responsible for issuing real estate licenses, pocket cards, and handing down disciplinary action - Provides advertising guidelines for brokers Article 12-A of the NYS Real Property Law Outlines the roles/duties of the Department of State Commissions - Commissions are paid by the client (buyer or seller depending on the transaction) to the brokers involved in the transaction. - A typical commission in New York is 6%. - Commissions are always...