TREES REAL ESTATE FINAL
SCRIPT COMPLETE ANSWERS
AND STUDY GUIDE LICENSE
PREPARATION PACK
◉ Exclusive right to sell listing
Answer: The Seller employs only 1 broker and regardless of who
sells the home the Broker gets paid
◉ Protection clause (carryover clause)
Answer: Protects the listing firm in case a person who was shown
property by the firm comes back to purchase the property AFTER
the listing has expired and tries to buy DIRECTLY from the Seller
◉ Exclusive Agency Listing
Answer: Seller employs only 1 firm regardless of who sells the
property the seller pays commission to the broker with 1 exception,
when the seller sells it themselves
◉ Open listing
Answer: When a listing is open to any broker to sell and whoever
Seles it gets the commission
, ◉ Net Listing
Answer: When a seller says they require a net amount and the
broker sells for more and pockets the difference
◉ Multiple Listing Service
Answer: A catalogue of exclusive listings with the automatic offer of
cooperation to other MLS members
◉ Lead Base Paint Disclosure
Answer: Any property before 1978
◉ Novation
Answer: The substitution of a new contract to replace an existing
contract which releases the original party of any further liability
◉ Fixtures
Answer: An item of personal property that when attached to the real
property becomes part of the real property
◉ Trade Fixture me
Answer: Fixtures essential to a business trade
◉ Feudal system of property ownership
SCRIPT COMPLETE ANSWERS
AND STUDY GUIDE LICENSE
PREPARATION PACK
◉ Exclusive right to sell listing
Answer: The Seller employs only 1 broker and regardless of who
sells the home the Broker gets paid
◉ Protection clause (carryover clause)
Answer: Protects the listing firm in case a person who was shown
property by the firm comes back to purchase the property AFTER
the listing has expired and tries to buy DIRECTLY from the Seller
◉ Exclusive Agency Listing
Answer: Seller employs only 1 firm regardless of who sells the
property the seller pays commission to the broker with 1 exception,
when the seller sells it themselves
◉ Open listing
Answer: When a listing is open to any broker to sell and whoever
Seles it gets the commission
, ◉ Net Listing
Answer: When a seller says they require a net amount and the
broker sells for more and pockets the difference
◉ Multiple Listing Service
Answer: A catalogue of exclusive listings with the automatic offer of
cooperation to other MLS members
◉ Lead Base Paint Disclosure
Answer: Any property before 1978
◉ Novation
Answer: The substitution of a new contract to replace an existing
contract which releases the original party of any further liability
◉ Fixtures
Answer: An item of personal property that when attached to the real
property becomes part of the real property
◉ Trade Fixture me
Answer: Fixtures essential to a business trade
◉ Feudal system of property ownership
