When a licensee transfers from the employ of one broker to another, of the following who is responsible for surrendering the license to the Real Estate Commission: A licensee and his former employing broker are jointly responsible for returning real estate licenses to the commission.
When a licensee transfers from the employ of one broker to another of the following who is responsible for surrendering the license to the real estate commission?
When a licensee transfers from the employ of one broker to another, of the following who is responsible for surrendering the license to the Real Estate Commission: A licensee and his former employing broker are jointly responsible for returning real estate licenses to the commission.
When a licensee misrepresents facts in property sales they are subject to which action?
A: Investor who owns 12 investment properties and sells one to an owner-occupant. Licenses are never automatically revoked or suspended without a hearing. When a licensee misrepresents facts in property sales, they are subject to which action? A licensee is always under the jurisdiction of the real estate commission .
Who has the responsibility for prosecuting in court the practice of real estate without a license?
30 Cards in this Set. Who has the responsibility for prosecuting the practice of real estate without a license? Since the Real Estate Commission only has jurisdiction over people with licenses, someone performing a licensed activity without a license would be a criminal matter prosecuted by the district attorneys .
Which of the following is correct according to the Colorado real estate commission statement regarding Rule F?
Which of the following is correct according to the Colorado Real Estate Commission Position Statement regarding Rule F? ... Brokers may not add exculpatory language to any commission-approved contract.
When a counterproposal is made what happens to the original offer?
A counteroffer functions as both a rejection of an offer to enter into a contract, as well as a new offer that materially changes the terms of the original offer. Because a counteroffer serves as a rejection, it completely voids the original offer . This means that the original offer can no longer be accepted.
Which of the following can terminate an agency relationship?
Which of the following can terminate an agency relationship? An agency relationship may be terminated by mutual agreement ; revocation by principal; renunciation by agent; expiration of its term; extinction of its subject matter; death or incapacity of either principal or agent.
What is e35 rule?
Commission Rule E-35 states that “brokerage activities” occur when a broker elicits or accepts confidential information from a party concerning specific real estate needs, motivations or financial qualifications. ... When a party engages a broker from a multiple-person firm, that broker is a designated broker.
What is the difference between positive misrepresentation and inadvertent misrepresentation?
What is the difference between positive misrepresentation and inadvertent misrepresentation? Positive means intentional; inadvertent means it wasn’t intentional . ... Misrepresentation falsely represents material facts that a reasonable person would rely upon.
What does procuring cause mean?
What Is The Procuring Cause? A procuring cause in real estate transactions refers to the real estate agent or broker whose actions resulted in the sale . As a result of their actions, that real estate professional is compensated with a commission from the property sale.
What type of license is issued when a license has been suspended/revoked or denied after a hearing?
What type of license is issued when a license has been suspended, revoked or denied after a hearing? Restricted license .
Who has the duty to administer all licensing provisions of Article 12-A?
The Secretary of State has the duty to administer all licensing, examination, education, and compliance provisions of Article 12-A; the rules of the Board; and the rules of the Secretary of State.
Which of the following are exempt from real estate licensing?
Exemptions to the license requirement include: resident managers of apartment buildings and complexes or their employees ; short-term (vacation – only if under 30 days) rental agents; employees of certain lending institutions; employees of real estate brokers for specific, limited functions; certain agricultural ...
What is the Conway Bogue decision?
In 1957, the Colorado Bar Association sued to require lawyers’ involvement in real estate transactions, but the Colorado Supreme Court ruled in the Conway Bogue decision that real estate licensees could provide the limited legal service of interpreting and completing state-approved forms for buyers and sellers .
Who is responsible for the cost of mediation quizlet?
the prevailing party all reasonable costs and expense. Do not confuse litigation and arbitration with mediation. Litigation and arbitration is binding and the prevailing party will be awarded costs and expense from the losing party.
Which of the following correctly describes how an independent broker may work according to Colorado law?
Which of the following correctly describes how an independent broker may work according to Colorado law? ... The broker should: submit the offer without disclosing the purchaser’s position A transaction broker may not disclose confidential information .
