MO Real Estate (A+ Graded)

Commercial real estate, as defined by Missouri real estate commission general rules, includes real estate correct answers with stores or office buildings. Which of the following activities would be considered a ministerial act under Missouri statute? correct answers Accompanying an appraiser, inspector, contractor, or similar third party on a visit to a property In general, residential real estate is defined as real property improved by a structure that is used, or intended to be used, primarily for residential living by human occupants and that contains not more than correct answers 4 dwelling units. A form of agency that may result when an agent licensee, or someone affiliated with the agent licensee, represents another party to the same transaction is called correct answers a dual agency. A person with a real estate broker license who, for compensation, becomes associated, either as an independent contractor or employee, with a real estate broker is correct answers a broker-salesperson. As defined in the Missouri statutes, advertising includes correct answers websites, business cards, signs An actual or potential seller, landlord, buyer, or tenant in a real estate transaction in which a licensee is involved, but has not entered into a brokerage relationship with the licensee, is considered correct answers a customer. A seller, landlord, buyer, or tenant who has entered into a brokerage relationship with a licensee is considered correct answers a client. The definition of real estate broker in the Missouri statutes does not apply to a person employed by the owner of the property to correct answers auction the property. A transaction broker is any licensee who correct answers assists the parties to a transaction without an agency or fiduciary relationship to either party and is, therefore, neutral. Within how many days after a broker changes his name, home, or business address must the broker notify the commission? correct answers 10 days How many brokers may a broker-salesperson or salesperson be licensed with during the same period? correct answers One If the designated broker renews his broker's license but does not renew the company license, correct answers all licenses affiliated with the company are invalid until the broker renews the company license.