301- NC Post Licensing Questions With 100% Correct Answers.
Can an inactive agent be paid a referral offers are written
commission if they were active at the time they
made the referral? - ANSWER -Yes. If and
only if they were active at time of referral As a dual agent, the agent's duties are reduced
to what? - ANSWER -Contractual
Obligations
Must Dual Agency be in writing? -
ANSWER -Before an offer is made, Yes.
Dual agency must be in writing and signed by What must all agency agreements have? -
both parties ANSWER -A beginning and ending date
At a listing appointment, the agent should be Oral to Oral & Written to Written describe what? -
gathering all information for listing and what? - ANSWER -The permissions needed to
ANSWER -Advertising show a property as a "Dual Agent"
May a BIC and their Provisional Broker enter into What should every agent bring to a listing
dual agency together? - ANSWER -No. appointment? - ANSWER -Deed, Plot Map,
Because the BIC oversees the PBs transactions, Tax Info, RPD, MOG, Listing Agreement (Several
this would be a conflict of interest Other items)
When must all agency be "Written" - Who gets paid in an Exclusive Right to Sell listing
ANSWER -Prior to first offer agreement? - ANSWER -The listing agent,
regardless of who brings a buyer, and likely the
buyer agent
Are all in-house transactions Dual Agency? -
ANSWER -No. The exceptions would be
Seller Sub Agency or Unrepresented Buyers Who gets paid in an exclusive listing agreement?
- ANSWER -Whomever brings a buyer
Can The Real Estate Commission fine brokers? -
ANSWER -No. They can only reprimand, Who can sell a property in an Open listing? -
suspend, and revoke licenses ANSWER -Any actively licensed agent
Who can sue agents civilly for monetary In a net listing money above the asking price is
compensation? - ANSWER -Principles of a paid to whom? - ANSWER -Listing Agent
transaction
Who is the actual agent to the principle in a
If Dual Agency is not disclosed is a commission transaction? - ANSWER -The Firm
due? - ANSWER -No. Therefore it is (Individual agents are sub agents to seller)
imperative to disclose dual agency before any
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Can an inactive agent be paid a referral offers are written
commission if they were active at the time they
made the referral? - ANSWER -Yes. If and
only if they were active at time of referral As a dual agent, the agent's duties are reduced
to what? - ANSWER -Contractual
Obligations
Must Dual Agency be in writing? -
ANSWER -Before an offer is made, Yes.
Dual agency must be in writing and signed by What must all agency agreements have? -
both parties ANSWER -A beginning and ending date
At a listing appointment, the agent should be Oral to Oral & Written to Written describe what? -
gathering all information for listing and what? - ANSWER -The permissions needed to
ANSWER -Advertising show a property as a "Dual Agent"
May a BIC and their Provisional Broker enter into What should every agent bring to a listing
dual agency together? - ANSWER -No. appointment? - ANSWER -Deed, Plot Map,
Because the BIC oversees the PBs transactions, Tax Info, RPD, MOG, Listing Agreement (Several
this would be a conflict of interest Other items)
When must all agency be "Written" - Who gets paid in an Exclusive Right to Sell listing
ANSWER -Prior to first offer agreement? - ANSWER -The listing agent,
regardless of who brings a buyer, and likely the
buyer agent
Are all in-house transactions Dual Agency? -
ANSWER -No. The exceptions would be
Seller Sub Agency or Unrepresented Buyers Who gets paid in an exclusive listing agreement?
- ANSWER -Whomever brings a buyer
Can The Real Estate Commission fine brokers? -
ANSWER -No. They can only reprimand, Who can sell a property in an Open listing? -
suspend, and revoke licenses ANSWER -Any actively licensed agent
Who can sue agents civilly for monetary In a net listing money above the asking price is
compensation? - ANSWER -Principles of a paid to whom? - ANSWER -Listing Agent
transaction
Who is the actual agent to the principle in a
If Dual Agency is not disclosed is a commission transaction? - ANSWER -The Firm
due? - ANSWER -No. Therefore it is (Individual agents are sub agents to seller)
imperative to disclose dual agency before any
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