Relra - Study guides, Class notes & Summaries

- Answer-Protect the public by ensuring a standard of competence and professionalism in the real estate industry (1)Basic Requirements for obtaining and keeping a license (2)Defining activities for which a license is required (3)Describing acceptable standards of conduct and practice for licensees (4)Enforcing those standards through a disciplinary system Real Estate Licensing and Registration Act (RELRA) - Answer-The Pennsylvania law that protects the public interest by governing real ...

The main objective of the Real Estate License Laws is to ensure that the rights of purchasers, sellers, tenants, and landlords are protected from - Answer-unscrupulous or sloppy practices Uniform policies and standards for administering and enforcing state license laws are promoted by the Association of - Answer-Real Estate License Law Officials (ARELLO) The Pennsylvania law that protects the public interest by governing real estate practices and the activities of licensees. - Answer-Real ...

Purpose of License Laws - Answer-Protect the public by ensuring a standard of competence and professionalism in the real estate industry (1)Basic Requirements for obtaining and keeping a license (2)Defining activities for which a license is required (3)Describing acceptable standards of conduct and practice for licensees (4)Enforcing those standards through a disciplinary system Real Estate Licensing and Registration Act (RELRA) - Answer-The Pennsylvania law that protects the public int...

The purpose of License Laws - Answer-To protect the public by ensuring a standard of competence and professionalism in the real estate industry. Pennsylvania's first real estate license law was adopted - Answer-May 1, 1929 established the Real Estate Commission to administer the Act and supervise the activities of licensees in PA - Answer-RELRA Section 202 Section 404 of RELRA - Answer-authorized the Commission to promulgate Rules and Regulations that implement and further define the s...

RELRA and State RE Commission Rules and Regs are laws.. - Answer- that govern how licensees provide real estate services in PA Broker of record is responsible for.. - Answer- all activities performed by an affiliated licensees Appraisal - Answer- process of estimating a property's market value, based on established methods, and professional opinion Appraisers must be certified by the... - Answer- State Board of Certified Appraisers to engage in this activity Home Inspectors are proh...

RELRA and State RE Commission Rules and Regs are laws.. - Answer-that govern how licensees provide real estate services in PA Broker of record is responsible for.. - Answer-all activities performed by an affiliated licensees Appraisal - Answer-process of estimating a property's market value, based on established methods, and professional opinion Appraisers must be certified by the... - Answer-State Board of Certified Appraisers to engage in this activity Home Inspectors are prohibit...

Loan Application form used by Fannie Mae and Freddie Mac - Answer- Uniform Residential Loan Application (Form 1003) Who is held accountable in in Universal Agency - Answer- The Principal Disadvantage of Subagency - Answer- Owes fiduciary duties to seller not the buyer. Mortgage Covenants - Answer- Protect the lenders collateral while being held and used by the borrower. Disclosed defects must be - Answer- Material Can-Spam unsolicited commercial emails must be clearly identified a...

How many brokers can you be affiliated with as a Pennsylvania licensee? - Answer-1 A consumer filed a complaint against a licensee for possibly violating the Pennsylvania Human Relations Act. Can the State Real Estate Commission investigate this complaint? - Answer-Yes, but only once 90 days have passed from the time the complaint was filed. (After 90 days, the State Real Estate Commission may investigate the complaint. This delay gives the Pennsylvania Human Rights Commission time to cond...

RELRA and State RE Commission Rules and Regs are laws.. - ANSWER that govern how licensees provide real estate services in PA Broker of record is responsible for.. - ANSWER all activities performed by an affiliated licensees Appraisal - ANSWER process of estimating a property's market value, based on established methods, and professional opinion Appraisers must be certified by the... - ANSWER State Board of Certified Appraisers to engage in this activity Home Inspectors are prohibit...

Purpose of License Law - Answer-Is to protect the public by ensuring a standard of competence and professionalism in the real estate industry. The laws achieve this goal by Establishing basic requirements for obtaining a real estate license and, in many cases, requiring continuing education to keep a license; Defining activities for which a license is required; Describing acceptable standards of conduct and practice for licensees; and Enforcing those standards through a disciplinary system. ...