PSI Real Estate Exam (MD State Portion)Correct 100%
Real Estate brokerage is govern by: - ANSWER 1. Satutory Law - Brokers Act "Title 17" 2. Administrative Law - Code of Maryland Regulations (COMAR) Regulation is enacted and enforced by MD Real Estate Commission (MREC) Brokerage Services: - ANSWER For consideration: - *Selling, buying, exchanging, or leasing* any real estate or collecting rent - Assisting to *locate/obtain* for purchase/lease any residential real estate - Serving as a consultant Engage regularly in a business of... - *Dealing/lease/option* in real estate - *Promoting* the sale of real estate through a listing in a publication - *Subdivides* land located in any state into lots and then selling those lots Transfer of Affiliation - ANSWER - *Apply to commission* for transfer from one broker to another, after obtaining from the new broker a commitment - Need a *statement confirming termination* from former broker or themselves.
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