Oregon real e Study guides, Class notes & Summaries

Do you need a real estate license to sell a mobile home on a rented space? - correct answer -No! Does the real estate agent with a lapsed license need to have an active license when lease-optioning personally-owned real estate? - correct answer -No - but they must do all other duties as if they WERE being supervised, IE keep finacial records, hold funds in neutral escrow, etc. Which situation requires a property manager to comply with license law and administrative rules? rental or lease-o...

11. Broker Wilson, a sole practitioner, obtained an exclusive right to sell listing on a property. Five days later he died. 10 days after his death an offer was made on the property to a cooperating broker. Which of the following statements is true concerning this situation? 1. Wilson's wife could assume the listing contract and present the offer to the seller. 2. If the offer was accepted by the seller, Wilson's commission would be paid to his estate. 3. The listing agreement terminated ...

How many days does a principal broker have to provide the name and account number of the bank after opening a trust account? - correct answer -10 business days What is the age a person has to be to get a reverse mortgage? - correct answer -62 years old and if married both persons must be at least 62 What is de-titling a manufactured home? - correct answer -Placing it on a lot permanently thereby changing it from personal property to real property. In so doing, ownership is evidenced by a d...

An unlicensed personal assistant working for a licensed broker may do which of the following activities? 1. Write ads and submit them to the newspaper and online. 2. Host open houses. 3. Email brokers weekly updates to the broker's clients. 4. Write up an offer for a buyer and then have the broker sign the contract later. - correct answer -1. Write ads and submit them to the newspaper and online. A principal real estate broker hired a number of part-time employees to show propert...

Oregon Real Estate Exam Practice - Instructor Questions, Oregon Real Estate Exam (PSI) Questions and AnswersOregon Real Estate Exam Practice - Instructor Questions, Oregon Real Estate Exam (PSI) Questions and AnswersOregon Real Estate Exam Practice - Instructor Questions, Oregon Real Estate Exam (PSI) Questions and Answers Do social networking sites have to be supervised by the principal broker? - ANSWER-Yes, social networking sites and advertising Does an acutioneer or a short term vacation...

An unlicensed personal assistant working for a licensed broker may do which of the following activities? 1. Write ads and submit them to the newspaper and online. 2. Host open houses. 3. Email brokers weekly updates to the broker's clients. 4. Write up an offer for a buyer and then have the broker sign the contract later. - Answer 1. Write ads and submit them to the newspaper and online. A principal real estate broker hired a number of part-time employees to show property, pass...

Oregon Real Estate All Test Questions & Answers, Graded A+/ verified. How many types of licenses can a real estate licensee have at the same time? - -1 Which of the following activities/persons are not exempt from real estate licensure under ORS 696.030? -A non-licensed individual acting as attorney in fact under a power of attorney executed on September 2005 -A person testifying before a court as to the value of real property -An attorney rendering services in the performance of duties...

Oregon Real Estate Exam Review questions and answers, 100% Accurate, rated A+/ The act of entering upon another person's real estate without authority or permission of the owner is called an encroachment. a trespass. an easement. a license. - -a trespass Which of the following best describes the physical boundaries of Land? a. The Surface of the earth and infinite space above the surface b. the center of the earth and infinite space above it c. The surface of the earth and mineral...

What are liquidated damages? Liquidated damages are procured from selling property Liquidated damages are in excess of actual damages Liquidated damages are specified in a contract in case of breach of contract Liquidated damages are in addition to those specifically stated in a contract - Answer When the broker gets a listing, the broker is the agent and the principal broker is the sub-agent. True False - Answer False The principal broker is the agent of the seller;...

Oregon Real Estate Study Questions & Answers, Latest Updates, verified. An unlicensed personal assistant working for a licensed broker may do which of the following activities? 1. Write ads and submit them to the newspaper and online. 2. Host open houses. 3. Email brokers weekly updates to the broker's clients. 4. Write up an offer for a buyer and then have the broker sign the contract later. - -1. Write ads and submit them to the newspaper and online. A principal real estate broker h...