Things to know Nevada State Real Estate Exam Accurate 100%!!
One act makes you a realtor- - ANSWER Any person, company, corporation acting as a realtor will be prosecuted by the Attorney General of the county were the act occurred Dual Agency- - ANSWER now known as Multiple Agency. Old common law where one agent represented both buyer and seller Assigned Agency - ANSWER happens when two agents working for the same broker, represent different parties in the same transaction. Agents - ANSWER Cannot disclose personal information for one year after closing Not held responsible for false statements of seller unless agent knows of fact Must have license to claim commission. Must disclosure "relationship" in all transactions including own sales and purchases, and immediate family members. Money mixed - ANSWER with agents/brokers is commingling Money spent - ANSWER is converted. All advertising - ANSWER must be in name of broker or brokerage Exclusive listings - ANSWER Must be in writing
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