Post licensing - Study guides, Class notes & Summaries

A married couple have prequalified for a $240,000 conventional mortgage. If they put 20% down, they can buy a house for - ANSWER $300,000 What facts need not be disclosed in a real estate transaction? - ANSWER The property was the site of a homicide. What is a good graphic to show a seller that there will be more activity if the property is competitively priced? - ANSWER The pricing pyramid A home sells for $310,500. Expenses of the sale are $4,800. The brokerage fee is $18,630. Prorati...

NCREL Post Licensing 301 Broker Relationships and Responsibilities | Questions with 100% Correct Answers | Verified | Latest Update 2024 A seller's agent or sub-agent must initially disclose her agent status to a prospective buyer when? - - Before buyer and agent discuss motivation or financial information. What fiduciary duties are owed to principals? - - Obey, Loyalty, Disclosure, Confidentiality, Accounting, & Reasonable care (OLD CAR) As a dual agent, my fiduciary responsibilities a...

NC POST LICENSING 301 POST-LICENSING QUESTIONS AND ANSWERS

NC 302 Post Licensing Questions and Answers Already Passed What document must a real estate agent provide to the seller at the time of listing a property? The Listing Agreement What is the purpose of a property management agreement? To define the responsibilities and terms between the property owner and the property manager What must be included in a property disclosure statement? Information about known defects or issues with the property What is the role of an earnest mon...

NC Post Licensing – 303 Questions and Answers Already Passed What is the purpose of an agency disclosure form? To inform clients about the nature of the agency relationship and the duties owed How should a real estate professional handle a situation where they represent both the buyer and the seller in the same transaction? Disclose dual agency to both parties and obtain their written consent What is required for a real estate contract to be legally binding? It must be in ...

A married couple have prequalified for a $240,000 conventional mortgage. If they put 20% down, they can buy a house for Correct Answer $300,000 What facts need not be disclosed in a real estate transaction? Correct Answer The property was the site of a homicide. What is a good graphic to show a seller that there will be more activity if the property is competitively priced? Correct Answer The pricing pyramid A home sells for $310,500. Expenses of the sale are $4,800. The brokerage fee i...

Post Licensing 303 Questions and Answers 100% Pass What should a broker do if they notice discrepancies in a client’s financial documents during a transaction? Notify the client immediately and work to resolve the discrepancies before proceeding. What is required for a property management agreement to be enforceable? It must be in writing and include details about the property, management duties, and fees. How often must a broker update their trust account records? Regular...