Maryland real estate law Study guides, Class notes & Summaries

PSI Real Estate Exam (MD State Portion) With 100% Correct Answers Real Estate brokerage is govern by: - answer1. Satutory Law - Brokers Act "Title 17" 2. Administrative Law - Code of Maryland Regulations (COMAR) Regulation is enacted and enforced by MD Real Estate Commission (MREC) Brokerage Services: - answerFor consideration: - *Selling, buying, exchanging, or leasing* any real estate or collecting rent - Assisting to *locate/obtain* for purchase/lease any residential real estate - S...

Maryland real estate Question and answers already passed 2024Maryland real estate Transfer of Affiliation - correct answer Apply to commission for transfer from one broker to another, after obtaining from the new broker a commitment, also need a statement confirming termination from former broker or themselves. Advisable but not required by law the former broker be informed of the details of the transfer. Continuing education sales associate - correct answer 15 clock hours, a clock ho...

Maryland Law Final Exam Questions and Answers Already Passed Which of the following is NOT a requirement in obtaining a real estate license? a. affiliate with a broker b. pass state exam c. 15 hours of continuing education d. complete required 60 hour course c. 15 hours of continuing education Al, a broker, listed his friend Bills home. Bill just took a job in another city and needed to sell quickly. In order to help Bill, Al told Jay about the home, Bill's new job and his eagerness to mov...

Maryland real estate Question and answers correctly solved 2024 Maryland real estate real estate license law is found - correct answer title 17 code of Maryland -comar regulation of the real estate commision - correct answer title 8 subtitle 11 comar real estate commission make up - correct answer 9 members: 5 professional members and 4 consumer members - professionals need to have at least 10 years and must have lived at least 5 years if he is representing an area- all must be ci...

Maryland Real Estate (Law) Already Graded A+ A broker is appointed to sell a property through an exclusive-right-to-sell listing contract. The broker will be entitled to a commission: a. only if the broker or one of her salespeople sells the property b. if the property is sold during the listing period c. only if the property is sold by the broker or the owner d. only if the sale is made by a multiple-listing partner ️b. if the property is sold during the listing period A broker need...

MD law questions and answers already graded A as a licensed salesperson you are looking for the MLS and buying a property that you wish to buy which of the following is true? answer you may represent yourself, but you must inform the seller that you are a licensee a licensee is required to give an agency disclosure to every purchaser/lessee at first Contact in Maryland, which of the following rights are in effect? dower curtesy Homestead none a quorum of the commission is a majority of the s...

MD Real Estate Exam- State Portion Latest Update Graded A+ Inactive Status associate real estate brokers and real estate salesperons that are no longer affiliated with licensed real estate brokers and their license certificates and pocket cards are returned to the Commission. An inactive license expires 3 years from the date it was placed on inactive status Commission pays any penalty collected to General Fund of the State Instead of, or in addition to, suspension or revocation,...

Maryland Real Estate Exam Questions and Answers 100% Pass Nancy, a broker in Annapolis, is going over the listing agreement with her new client, Josie, who asks, "What if I need to cancel the agreement early?" What should Nancy tell her? 1. "I'm always flexible. If we need to, we'll add an amendment to the agreement granting you permission to cancel early." 2. "Listing agreements in Maryland must be for a definite amount of time. If it would make you more comfortable, we can se...

MARYLAND REAL ESTATE EXAM PREP QUESTIONS AND ANSWERS RATED A+ Which of the following does NOT end presumed buyer representation? The licensee working with prospects fails to present a disclosure of representation form Does Maryland have dower laws? no Dual agency is permitted only in brokerage firms consisting of three or more licensee true in maryland In which of the following situations does an act of real estate brokerage require a real estate brokerage license? A person charg...

MARYLAND REAL ESTATE EXAM PREP QUESTIONS AND ANSWERS 100% PASS Which of the following does NOT end presumed buyer representation? The licensee working with prospects fails to present a disclosure of representation form Does Maryland have dower laws? no Dual agency is permitted only in brokerage firms consisting of three or more licensee true in maryland In which of the following situations does an act of real estate brokerage require a real estate brokerage license? A person char...