Bonnie is calculating the square footage of a listing. The upper level of the home is
450 square feet. The main floor is 1,200 square feet, including an unfinished laundry
area that's 225 square feet. The 1,200-square-foot basement is finished. Bonnie's MLS
system disregards below-grade square footage. What square footage will Bonnie
mention in her MLS listing and marketing materials?
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1,425
Only finished above-ground space should be counted in Bonnie's MLS
, listing. That means the square footage of the upper floor plus the main
floor (minus the unfinished laundry area). Bonnie should report 1,425
square feet (450 + 1,200 - 225).
Landlords must abide by all fair housing, civil rights, and ADA regulations as well as
comply with all state and federal landlord-tenant legislation. What responsibility does
the property manager have related to this?
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The property manager, as the landlord's general agent, is responsible for
upholding all the laws and regulations required of the landlord.
The landlord--and by extension, the property manager who's acting as a
general agent--must adhere to all federal, state, and local regulations
related to fair housing, civil rights, ADA, and landlord-tenant laws.
The two real estate firms in one small town, Vineyard Realty and Homestead Homes,
agree to charge the same commission rate to avoid the possibility of clients selecting
a firm based simply on price. What specific federal legislation prohibits this?
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The Sherman Antitrust Act of 1890
The Sherman Antitrust Act of 1890 expressly prohibits collusive acts that
result in an unreasonable restraint of trade or reduced competition.
Gary has an 80% LTVR on his new $318,000 townhome with an annual interest rate of
4.125%. What's his interest payment the first month?
, Give this one a try later!
$874.50
The loan amount is $254,400 ($318,000 x .8). The first month's interest is
$874.50 ([$254,400 x .04125] ÷ 12).
You're a real estate broker supervising 24 licensees. What's the most effective way for
you to protect your firm from lawsuits?
Give this one a try later!
Develop, implement, and train firm members on policies and procedures.
Having policies and procedures in place and training staff on them may be
the best preventive measure.
Seth is a licensee working for a buyer, Britney. Britney wants to make sure the seller
accepts her offer on a charming Cape Cod, so she tells Seth she wants to make a full-
price, non-contingent offer right away. How should Seth respond?
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"I highly recommend a home inspection contingency with your offer to
protect yourself in the event there are major defects with the house."
Licensees should always encourage buyers to have a home inspection
performed and to include an inspection contingency with the offer.
Inspections reveal material defects of a property, so buyers know exactly
what they're buying.
450 square feet. The main floor is 1,200 square feet, including an unfinished laundry
area that's 225 square feet. The 1,200-square-foot basement is finished. Bonnie's MLS
system disregards below-grade square footage. What square footage will Bonnie
mention in her MLS listing and marketing materials?
Give this one a try later!
1,425
Only finished above-ground space should be counted in Bonnie's MLS
, listing. That means the square footage of the upper floor plus the main
floor (minus the unfinished laundry area). Bonnie should report 1,425
square feet (450 + 1,200 - 225).
Landlords must abide by all fair housing, civil rights, and ADA regulations as well as
comply with all state and federal landlord-tenant legislation. What responsibility does
the property manager have related to this?
Give this one a try later!
The property manager, as the landlord's general agent, is responsible for
upholding all the laws and regulations required of the landlord.
The landlord--and by extension, the property manager who's acting as a
general agent--must adhere to all federal, state, and local regulations
related to fair housing, civil rights, ADA, and landlord-tenant laws.
The two real estate firms in one small town, Vineyard Realty and Homestead Homes,
agree to charge the same commission rate to avoid the possibility of clients selecting
a firm based simply on price. What specific federal legislation prohibits this?
Give this one a try later!
The Sherman Antitrust Act of 1890
The Sherman Antitrust Act of 1890 expressly prohibits collusive acts that
result in an unreasonable restraint of trade or reduced competition.
Gary has an 80% LTVR on his new $318,000 townhome with an annual interest rate of
4.125%. What's his interest payment the first month?
, Give this one a try later!
$874.50
The loan amount is $254,400 ($318,000 x .8). The first month's interest is
$874.50 ([$254,400 x .04125] ÷ 12).
You're a real estate broker supervising 24 licensees. What's the most effective way for
you to protect your firm from lawsuits?
Give this one a try later!
Develop, implement, and train firm members on policies and procedures.
Having policies and procedures in place and training staff on them may be
the best preventive measure.
Seth is a licensee working for a buyer, Britney. Britney wants to make sure the seller
accepts her offer on a charming Cape Cod, so she tells Seth she wants to make a full-
price, non-contingent offer right away. How should Seth respond?
Give this one a try later!
"I highly recommend a home inspection contingency with your offer to
protect yourself in the event there are major defects with the house."
Licensees should always encourage buyers to have a home inspection
performed and to include an inspection contingency with the offer.
Inspections reveal material defects of a property, so buyers know exactly
what they're buying.
