Term
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Definition
| engaging in real estate transactions on behalf of someone else for a fee or valuable consideration |
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Term
| Real estate brokerage includes the following areas |
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Definition
| homes, apartments/units, retail stores, office buildings, warehouses, industrial buildings, land, farms, cemetaries, time sharing, campground memberships |
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Term
| Real estate licenses are administered by the state real estate commission and they are |
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Definition
real estate broker
associate broker
real estate salesperson
builder-owner salesperson
cemetery broker
cemetery associate broker
cemetary salesperson
timeshare salesperson
campground membership salesperson
rental listing referral agent |
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Term
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Definition
broker cannot exert control over how the salesperson performs her work. Can make them follow laws.
Salesperson receives 1099MISC
Broker does not contribute to unemployment compensation, soc. security.
Salesperson pays soc.sec. as if self employed
May provide office equipment and general assistance/advice
May be covered by errors and ommissios |
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Term
| Statutory Method, qualified real estate agent |
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Definition
at least 90% of compensation must be productivity based rather than related to hours worked.
Must be written contract
Broker can direct and control the activities of the salespeople
They receive a 1099MISC
Receive a W-2 for non production income and the broker contributes to unemployment compensation and soc.sec on non production income i.e on wages not earned from commission |
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Term
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Definition
| activities that are anti-competative. Price fixing, boycotting a competitor due to marketing or fees, allocating markets, creating agreements which unnecessarily bundle dissociated products or services for additional fees |
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Term
| Federal Civil Rights Act of 1866 |
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Definition
All citizens of the US have the same right in every state and territory as enjoyed by white citizens.
Not limited to housing, no exemptions
Basically deals with racial factors.
Law is invoked by filing suit in federal court |
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Term
| Title 8 -feder civil rights act of 1968 |
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Definition
| The law identifies protected classes and prohibits discrimination against them when it comes to housing and vacant land. |
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Term
True/False in relation to Fair Housing Laws 1968
Protected classes are Race, color, religion, sex, national origin, familial status, and handicapped status |
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Definition
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Term
True/False in relation to Fair Housing Laws 1968
Familial Status includes federal protection for homosexuals |
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Definition
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Term
True/False in relation to Fair Housing Laws 1968
Familial status means you cant descriminate against people with children, pregnant persons, or a person who is in the process of obtaining legal custody of a person under 18 |
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Definition
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Term
True/False in relation to Fair Housing Laws 1968
Handicapped status protection does not apply to members of a person's household or person's with whom they associate but only to the individual attempting to rent/purcahse or currently renting a property |
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Definition
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Term
True/False in relation to Fair Housing Laws 1968
Handicapp status applies to physical or mental impairment or the belife that a person has such an impairment, diseases such as cancer/aids, epilepsy autism or previous drug addiction. |
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Definition
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Term
True/False in relation to Fair Housing Laws 1968
In regards to handicapped status it is unlawful to refus to permit a person to make reasonable modifications at the renters expense |
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Definition
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Term
True/False in relation to Fair Housing Laws 1968
A building w/a "no pets" policy can refuse a visually impaired tenant to keep a guide dog. |
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Definition
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Term
True/False in relation to Fair Housing Laws 1968
Housing need not be made available to a person who is in a direct threat to the health or safety of others or who currently use illegal drugs |
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Definition
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Term
True/False in relation to Fair Housing Laws 1968
Buildings built after march 1991 and have an elevator and 4+ units
must have accessable common areas, doors and hallways must be wide enough for wheelchairs, an accessable route through the unit, access |
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Definition
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Term
| Discrimination against protected classes includes: |
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Definition
Refusing to rent, sell, negotiate
discrimination in terms, facilities
Discriminatory ads and statements
Blockbusting
Steering/guiding
threats, interference, coersion or intimidation |
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Term
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Definition
| any effort with a profit motive, to induce a person to sell or rent a dwelling by making represenations regarding the undesireable consequences that will occur because of the alleged entry into a neighborhood of any of the protected classes |
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Term
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Definition
| actions that channel home seekers to or from a particular area to maintain homogenity within the area |
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Term
True/False in relation to Fair Housing Laws 1968
if no real estate license is used the following acts are excluded from the law
The sale or rental of a single family residence if the owner does not own an interest in more than 3 single family houses a |
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Definition
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Term
True/False in relation to Fair Housing Laws 1968
if no real estate license is used the following acts are excluded from the law rentals of rooms or units in owner-occupied multi-dwellings for 2-6 families |
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Definition
| FALSE, Only for 2-4 families if owner occupied |
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Term
True/False in relation to Fair Housing Laws 1968
if no real estate license is used the following acts are excluded from the law limiting the sale, rental, or occpancy of dwellings wich a religious organization owns or operates, to persons of the same r |
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Definition
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Term
True/False in relation to Fair Housing Laws 1968
if no real estate license is used the following acts are excluded from the law limiting to its own members the rental or occupancy of lodings wich a private club owns or operates for other than a commerc |
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Definition
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Term
True/False in relation to Fair Housing Laws 1968
If a discrimatory act fits within one of the four exception to the 1969 law, the party could still be prosecuted under the 1968 law |
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Definition
| TRUE, if the discrimination is based on race. |
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