The broker is usually also given the authority to accept and hold good faith deposits on the seller's behalf. The listing agreement usually also empowers the broker to receive good faith deposits from buyers.
The broker is usually also given the authority to accept and hold good faith deposits on the seller's behalf. The listing agreement usually also empowers the broker to receive good faith deposits from buyers.
When a licensee provides a seller with a figure for listing a property he or she should give?
The licensee should give the seller a listing range , and then the seller can set the price to whatever feels comfortable within that range. Note to licensees: if interested in purchasing a property you are listing, do NOT provide a CMA. Also, remember that you cannot purchase that property while you have it listed. 3.
What is a real estate agent responsible for?
A real estate agent helps his or her clients purchase, rent, or sell properties . They advise clients about market conditions, conduct walkthroughs, and provide guidance and assistance through the process of buying, selling, or leasing properties.
Which of the following is not a responsibility that brokers have to their licensees?
| Question Answer | Which of the following is NOT a responsibility that brokers have to their licensees? Provide and pay for networking opportunities to allow licensee to make business contacts . | Work agreements must be dated and signed by the parties. |
|---|
What are the consequences for trust fund conversion?
- civil liability for money wrongfully converted;
- disciplinary action by the Department of Real Estate (DRE);
- income tax liability; and.
- criminal sanctions for embezzlement.
Which of the following written agreements can create an agency relationship?
The typical written agreement is a listing agreement or a buyer's agency agreement . The written agreement is the most appropriate and legally safe way to create an agency relationship. Implied agency: Implied agency establishes an agency relationship through the actions of the two parties.
What is the process to make changes to a listing agreement contract?
A listing agreement can be modified, but only if all parties agree in writing. A listing agreement can change by the mutual verbal agreement of all parties . A listing agreement can be modified, but only if all parties agree in writing.
Which of the following is considered economic obsolescence?
Quick Summary. Economic obsolescence refers to the loss of value of a real estate property due to factors that are external to the property. Common causes of economic obsolescence include a change in aircraft flight patterns, increased crime rates, construction of a busy highway, construction of a landfill nearby, etc.
What are the three most common types of listings?
What are three most common types of listing? Open listing, exclusive right to sell listing, and exclusive agency listing thing .
Is real estate a high paying job?
Real estate offers a broad range of professions, many of which come with the opportunity to earn a high salary. Depending on location and training, top performers in this industry regularly make more than $100,000 each year .
Do real estate agents have a duty of care?
Your real estate agent is a professional, and as such has a duty of care and can be guilty of professional negligence or breach of contract if they do not appropriately discharge that duty of care.
Do estate agents have a governing body?
There are three main governing bodies:
Association of Residential Letting Agents . Safeagent (Previously The National Approved Letting Scheme) National Association of Estate Agents.
What are the types of brokers?
- Online brokers. A new form of digital investment that interacts with the customer on the internet. ...
- Discount brokers. ...
- Full-service brokers. ...
- Stock brokerage. ...
- Credit brokerage. ...
- Leasing brokerage. ...
- Forex brokerage. ...
- Real estate brokerage.
Which form of advertising is considered the most cost effective method for selling a home?
| Question Answer | Which form of advertising is considered the most cost-effective method for selling a home? Newspaper | Which of these is not a tool to help evaluate advertising effectiveness? Advertising budget |
|---|
How much do brokers make per sale?
How much do brokers actually get paid? On average, a mortgage broker's commission is 0.15% of the loan balance . This equates to approximately $600 a year on a $400,000 loan balance.
