Term
| A man is so Cautious and refuses to sign documents, under which statement may you NOT work with the man? |
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Definition
| Change from a single agent to a transaction broker to show the man's home to an in-house buyer-principle |
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Term
| The brokerage relationship disclosure requirements in Chapter 475 F.S., Apply to the |
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Definition
| Sale of a condominium unit |
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Term
| Which statement best describes the duty of loyalty in a single agent relationship? |
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Definition
| The broker must act in the best interest of the pricipal |
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Term
| A real estate broker who works in a limited capacity for both buyer and the seller in the same transaction is...? |
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Definition
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Term
| A license of ABC Realty must give the no brokerage relationship notice to |
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Definition
| A for-sale by Owner (FSBO) seller before showing the FSBO home to a buyer customer of ABC Realty |
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Term
| A broker listed a sellers property. the seller discloses of loose tile, the broker has an obligation to tell buyer |
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Definition
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Term
| A Transaction Broker has all of the duties listed below EXCEPT |
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Definition
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Term
| a seller list her home for $116,900, she also says she needs atleast 112,000. During open house agent is given 2 different offer, what should he do? |
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Definition
| Present Both Offers, explaining the details of each to the seller |
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Term
| In the common publi relationship that exists in a typical real estate transaction, buyers and sellers are said to be dealing |
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Definition
| at arm's length of each other |
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Term
| If a principal gives the broker instructions that will result in loss or harm to the principal, the broker |
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Definition
| Should inform the principal of possible harm inherent in the instructions, and then either do as instructed or withdraw from the relationship |
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Term
| A brokers obligation to consumers with whom the brokerage firm has no brokerage relationship include the duty of |
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Definition
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Term
| Designated Sales Associates are BEST Described as |
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Definition
| Single Agent for the buyer and the seller in noresidential transactions where the buyer and the seller meet certain asset thresholds |
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Term
| Which relationship is a general agency relationship? |
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Definition
| Relationship between the employed broker and a broker associate |
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Term
| a rela estate licensee makes a nonfactual statement about a property and the buyer accuses the licensee of fraud. The buyer is NOT required to prove that the....? |
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Definition
| Information misstated could be proved to be false with due diligence |
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Term
| A Real estate sales associate must cisclose to a prospective buyer that....? |
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Definition
| The family room addition does not comply with the local building codes |
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Term
| John Anderson is a licensed real estate associate. Under which name may he register and be licensed? |
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Definition
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Term
| A Sales associate receives a binder deposit from a prospective buyer on thursday, he later gives it to the broker, by which day should the broker make the deposit into the escrow account |
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Definition
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Term
| Real estate Sale associates who receive checks payable to them as deposits on the purchase of real property must? |
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Definition
| endorse the check and Immediately turn them over to their employees |
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Term
| Which statement is FALSE regarding Escrow Accounts? |
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Definition
| It is illegal for the broker to keep any earned interest even if the buyer and the seller give written permission |
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Term
| A dispute arrises between the buyer and the seller as to which one is entitled to escrowed property. the broker should first? |
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Definition
| Notify the FREC in writing, unless exempted from the notice of requirements |
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Term
| An individual who paid rental information but did not obtain a rental is entitled to repayment of? |
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Definition
| 75% of the fee if requested within 30 days of the contract/receipt date |
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Term
| A woman purchases a Rental list. She inspected an apartment on the list and was told that cats were not permitted, but the list clearly stated that they were. The woman orally demands her money back and should legally receive how much from the broker |
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Definition
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Term
| If the license issued to the only active broker of a real estate corporation becomes void for any reason, another active broker must be appointed within 14 days failure to do so will result in |
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Definition
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Term
| A sales associate employs an unlicensed personal assistant to help with real estate property management. The Unlicensed assistant may Not.......? |
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Definition
| Show a rental property to a potential tenant |
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Term
| Which statement is TRUE regarding a lien filed by a broker under the Commercial Real Estate Commission Lien Act |
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Definition
| The broker must disclose to the owner at the time of signing, or before the ownersigns the brokerage agreement, that chapter 475 Part III, Creates lien rights for commssion earned by a broker |
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Term
| One difference between a general partnership and a limited partnership is that...? |
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Definition
| Limited partners must make a Cash or Property Investment |
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Term
| Which business entity may be registered as a real estate broker |
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Definition
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Term
| A Broker is preparing to open Sunnyside Realty, Which wording does NOT need to be included on the sign? |
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Definition
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Term
| A licensed real estate broker and an attorney who specializes in contract law form a joint venture for the purpose of locating and selling to investors raw land. Which statement is true regarding this arrangement? |
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Definition
| Because they are performing real estate services for compensations, they both must be licensed real estate brokers |
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Term
| A broker receives conflicting demands concerning a roof inspection, both buyer and seller claim earnest money deposit. the broker must...? |
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Definition
| institute one of the statutory settlement procedures within 30 days business days from the time the broker received conflicting demands |
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Term
| The sales commission rates applicable to the various types of property sold in Florida are determined by....? |
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Definition
| agreement between each broker and buyer or seller |
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Term
| When a Sales Associated decides to leave the employ of her broker to work for another broker she.....? |
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Definition
| Must notify DBPR within 10 days of her change in Broker-Employer |
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Term
| In Florida, Listing obtained and any commissions paid by the buyer or the seller are.....? |
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Definition
| Legally the property of the sales associates employer |
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Term
| Which statement is false concerning the payment of an unearned fee or kickback...? |
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Definition
| A real estate licensee may be paid a fee for referring buyers to a title company, provided the buyer is informed in advance of the facts concerning the fee. |
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Term
| Two brokers from different brokerages agree to work with one another to market a prestigious marina in naples, Florida. One is knowledgable about marinas and the other is an expert in the Naples Real estate market. They decide to combine their expertise, which arrangement is this called? |
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Definition
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