OREGON REAL ESTATE EXAM PREP Questions and answers, 100% Accurate. Verified.| latest update 2024/25|

OREGON REAL ESTATE EXAM PREP Questions and answers, 100% Accurate. Verified. Can a NON-licensed individual who is an employee of a licensed real estate property manager do any of the following items, even if the property manager signs a paper delegating their authority to a nonlicensed office staff person? - 1. Negotiate rental of lease agreements? 2. Check tenant and credit references? 3. Physically maintain the real estate? 4. Conduct tenant relations? 5. Collect the rent? 6. Supervise the premises' managers? 7. Discuss financial matters relating to the management? 8. Receive and disburse trust funds in a clients trust account? YES 696.030 Exemptions. (9) A non-licensed individual who is employed by a principal real estate broker engaged in the management of a rental real estate or by a licensed real estate property manager and who acts on behalf of the principal real estate broker or licensed real estate property manager pursuant to a written delegation of the principal real estate broker’s or licensed real estate property manager’s authority. Do you have to be a licensed real estate agent to conduct a real estate AUCTION? (i.e. the auctioneer) YES There are various persons working at auctions who must be licensed. These include the broker who contracts (listing or employment agreement) to conduct the auction and the person who cries the auction. Bid assistants (sometimes called spotters or ringmen) who do more than merely spot bids for the auctioneer will also be required to have a real estate license. Brainpower Read More Do you have to be a licensed real estate agent to sell campground sites? NO Any individual who does not have a real estate license and is engaged in offering to sell or obtaining commitments to buy campground memberships by means of membership camping contracts by making a direct sales presentation to a person must be registered as a membership camping contract salesperson. Do you have to open a separate client trust account for each individual client (transaction)? YES Principal brokers must retain and store the records described in this rule as required by OAR 863-015- 0250 and . However, where separate general business or clients’ trust accounts or both are maintained at branch offices, the financial records described in this rule may be maintained and located either at the principal broker’s main office or, if the principal real estate principal broker or branch office manager conducts the real estate business from that branch office, at that branch office. When you have to renew your license for the first time what is needed for continued education? THREE-HOUR LAW AND RULE REQUIRED COURSE AND 27-HOUR ADVANCED COURSE IN REAL ESTATE PRACTICES (B) A Board-approved three-hour law and rule required course on recent changes in rule and law, described in OAR , required for all licensees; (C) A 27-hour advanced course in real estate practices, described in OAR , required for real estate brokers before the first active renewal of the broker's license or before the first license reactivation following an inactive first renewal; When a broker writes a letter of resignation to his principle broker, at what point does that principal broker become NOT responsible for that broker? (when he receives the resignation letter? when he signs off on the license? when he signs off on the license and puts it in the mail?) OAR (A) AN ONLINE INACTIVATION APPLICATION AVAILABLE THROUGH THE AGENCY’S WEBSITE; OR (B) AN ONLINE LICENSE TRANSFER FORM AND FEE. How long does a property manager have to refund a tenants deposit after the end of their lease? NOT LATER THAN 31 DAYS AFTER THE TENANCY TERMINATES How long before funds in a purchase agreement need to be deposited into the clients trust account? EARNEST MONEY MUST BE DEPOSITED IN 3 BANKING D