Multiple listing service - Study guides, Class notes & Summaries

CMIT Exam (200 multiple choice) Questions with Verified Answers A CM's role and responsibilities are governed solely by the Owner/CM Agreement. True False - CORRECT ANSWER True There are two basic forms of CM, agency and at-risk. Each form provides for the basic services of construction management practice. However, there are some key differences. Which of the following do not apply to both CM forms? A) Both forms provide advice to the owner on constructibility, budget and the schedule....

What 4 things must be specified on both representation and customer service agreements? - Answer-- The effective date and expiry date of the agreement (can only be one expiry date) - The method for calculating commission or other remuneration payable to the brokerage (in the case of a seller, the amount payable) - How the commission or other remuneration will be paid - The services that the brokerage will provide under the agreement If the term of a representation or customer service agree...

360 Training Sessions Latest Update Graded A+ National Association of Realtors (NAR) The largest professional association in the real estate industry Was first organized in 1908 To be a full member of this association, a person must be licensed in an individual state to sell real estate and must join the local board of the NAR. In most areas, this board is called the Association of REALTORS A REALTOR® is a professional in real estate who subscribes to a strict code of ethics k...

ETS MFT BUSINESS EXAM The principal difference between variable costing and absorption costing centers on: a) whether variable manufacturing costs should be included as product costs b) whether fixed manufacturing costs should be included as product costs c) whether fixed manufacturing costs and fixed selling and administrative costs should be included as product costs d) none of these. General Bikes is debating which marketing research options to employ. The traditional p...

Washington Real Estate UPDATED Exam Questions and CORRECT Answers MLS - Correct Answer- Multiple listing service- Cooperative agreements between brokers to share information usually are established at the NAR local level. Chapter 1 Stages of the real estate transaction - Correct Answer- 1. The listing 2. The contract for sale 3. Financing 4. Settlement Chapter 1 Listing contract - Correct Answer- A contract wherein a property owner employs a real estate firm to market a property...

Real Estate law governing advertising applies to all of these EXCEPT: A. In house notes for showing B. Multiple listing service (MLS) C. communications with consumers D. Social Media - correct answer A. In-house notes for showing are not seen by consumers an so do not have to follow state or federal laws. A couple accompanies a property inspector during an inspection of a house on which they have a contract. The inspector points to a six-inch crack at the corner of a dining room window. ...

Chapter 1: The Real Estate Profession + Chapter 2: Getting a Real Estate License Questions And Answers Broker - ANS-Any person, partnership, association, limited liability partnership, limited liability company, or corporation who, for a fee, sells, lists, leases, exchanges, negotiates, or otherwise deals in the real estate of others, or represents publicly that he does. Independent Contractor - ANS-A self-employed salesperson paid on jobs completed rather than hours worked and resp...

An independent contractor is: A. A licensee operating a "business within a business" B. Given health benefits from the brokerage firm C. Not required to work 40 hours a week D. Both A and C CORRECT ANSWER D. Both A and C When considering which agency to join, a candidate who intends to be an independent contractor should consider the company Policy and Procedures Manual because it will address: A. What hour he must work. B. What health insurance and retirement benefits he gets. C. ...

Absentee Owner - A property holder who does not reside on the property and who usually relies on a property manager to manage the investment. Appraisal - The process of developing and communicating an estimate of a property's Appraiser - Appraisers charge a fee based on the time and difficulty of the appraisal assignment and are not paid commission. Broker Price Opinion (BPO) - A broker's written opinion of the value of a particular property that may not be used in connection with the or...

GOLD COAST REAL ESTATE EXAM Farming when a licensee focuses on one type or style of property or one particular neighborhood farm area target market; one of the best ways to succeed in real estate Areas of expert knowledge required for all real estate licensees 1. Property Transfer 2. Valuation and Market Conditions 3. Marketing (consider MLS; Multiple Listing Service) Residential Transaction F.S 475 The sale of any improved residential property of 4 units or fewer. Unimpr...