Which of the following must a broker provide to associate brokers who work as independent contractors? The answer is written contract .
Which of the following is typically a licensee duty to the brokerage?
Which of the following is typically a licensee's duty to the brokerage? Work to promote and sell the broker's listings.
Which of the following must a broker legally provide to an employee?
Which of the following must a broker provide to associate brokers who work as independent contractors? The answer is written contract .
When hiring an employee rather than an independent contractor a broker is obligated to?
All licensed salespersons and associate brokers are required by law to work under the supervision of a sponsoring broker in their real estate activities. In doing so, the salesperson may either be hired as an employee or associated with a broker as an independent contractor.
Which of the following is true regarding the sponsoring broker's agreements with team leaders?
Which of the following is true regarding the sponsoring broker's agreements with team leaders? The team leader agreements must be the same agreement as used for other company licensees . The team leader agreement should specify that the licensee is a team leader and specify his/her duties.
Which of the following is a fundamental difference between an independent contractor and an employee?
What's the Difference Between an Independent Contractor and an Employee? ... For the employee, the company withholds income tax, Social Security, and Medicare from wages paid . For the independent contractor, the company does not withhold taxes. Employment and labor laws also do not apply to independent contractors.
What is special about a universal agent?
What is special about a universal agent? A universal agent has power of attorney . ... A universal agent has power of attorney. The authority to act for another person in specified or all legal or financial matters.
Which of the following is a common type of agency relationship?
The most common agency relationships are: Buyer's Agency ; Seller's Agency; Dual Agency.
What would an escrow account ledger contain?
Include the names of all parties to a transaction, the amount of funds the sponsoring broker received, and the date the broker received the funds . ... A log identifying all escrow bank account numbers and the name and address of the bank where the escrow accounts are located.
What are the two forms of advertisement that a brokerage is involved in?
Name and define the two forms of advertising. Institutional advertising attempts to establish a positive image of the company, its services and its reputation in the minds of the public. Product advertising is directed toward the particular properties a company has for sale.
What happens if you misclassify an employee as an independent contractor?
Misclassified employees often are denied access to critical benefits and protections they are entitled to by law , such as the minimum wage, overtime compensation, family and medical leave, unemployment insurance, and safe workplaces.
What is the penalty for classifying an employee as an independent contractor?
Under Labor Code section 226.8, which prohibits the willful misclassification of individuals as independent contractors, there are civil penalties of between $5,000 and $25,000 per violation . Willful misclassification is defined as voluntarily and knowingly misclassifying an employee as an independent contractor.
Can an independent contractor work for only one company?
Independent contractors usually have authority to decide how they will complete their work. Independent contractors may work for more than one business at a time . Independent contractors can set their own pay or negotiate the price of each individual job.
Which document is the most important at closing?
Deeds are the most important documents in your closing package because they contain the statement that the seller transfers all rights and stakes in the property to the buyer.
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.
What is a broker code in real estate?
NAICS Code 531210 – Offices of Real Estate Agents and Brokers.
