FINAL STATE EXAM- CO RE Questions and Answers(SCORED A+)

When employing the income approach to value, the improvements and the land are valued: By comparing the sales of similar properties By determining the cost per square foot of reproducing improvements By capitalizing income Concurrently by more than one approach - ANSWER-By capitalizing income Which of the following is not essential to a valid real estate sales contract? Offer and acceptance Notarization Consideration Description of the property - ANSWER-Notarization Exclusive Right-to-Sell contracts list specific services the broker will offer. Those services: are not limited to those preprinted on the contract are limited to those specified include disclosing psychologically impacting information are to be added at a later date outside of the body of the contract - ANSWER-are not limited to those preprinted on the contract Brokers may not disclose any psychologically impacting information; each listing contract must contain all services/requirements of each party to the contract. Other services may be added in the additional provisions section.