REVIEW QUESTIONS FOR NY REAL |||\\\ |||\\\ |||\\\ |||\\\
ESTATE EXAM with correct answers
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\
1-A broker legitimately may pay all or part of Real estate commission to a
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
a. seller |||\\\
b. salesperson
|||\\\
c. buyer |||\\\
d. friend who provides a listing lead - correct answers-B: Salesperson can accept compensation
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
only from their sponsoring broker.
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2-The minimum age for a New York real estate broker's license is
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
a. 19. |||\\\
b. 18. |||\\\
c. 20. |||\\\
d. 21. - correct answersC. As of July 1,2008 to become a broker you must be 20 years old.
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
3-Which of the following acts would require a real estate license in New York
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
a. Sale of one's own property
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\
b. Sale by the owner's lawyer
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\
c. Sale of land by an auctioneer
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
d. Foreclosure sale by court order - correct answersC: selling land at an auction.
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
4-An associate broker may |||\\\ |||\\\ |||\\\
a. sponsor a person for a salesperson's license.
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
,b. collect his or her own real estate fees.
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
c. act as a principal broker for another broker.
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
d. Work as a salesperson for a principal broker - correct answersD: Associate broker is a
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
licensed broker but chooses to work under the supervision of another broker.
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
5-Violation of the license law is a misdemeanor, Punishable by up to a year in jail and a fine of
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
Up to |||\\\
a. $500.
|||\\\
b. $2,000.
|||\\\
c. $1,000.
|||\\\
d. $1,500. - correct answersC: DOS may impose a fine not to exceed $1000.
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
6-When salesperson Tom Jones left ABC Realty And went to work with XYZ REALTORS,
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
Tom's listings |||\\\
a. became null and void.
|||\\\ |||\\\ |||\\\ |||\\\
b. Remained with ABC Realty.
|||\\\ |||\\\ |||\\\ |||\\\
c. Went with him to XYZ REALTORS.
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
d. Required the sellers' signatures to remain in the local MLS. - correct answersB: When a
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
licensee terminates with a broker they must turn over all information.
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
A salesperson's license must be
|||\\\ |||\\\ |||\\\ |||\\\
a. displayed on the firm's wall.
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\
b. kept in the salesperson's wallet
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\
c. retained by the principal broker.
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\
d. d. sent to the local REALTORS association. - correct answersC: Kept by the broker in a safe
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
place.
,8-When does offering a client's business for sale Require a real estate license?
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
a. Never
|||\\\
b. Always
|||\\\
c. When the business includes any real estate
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
d. When more than half the value is real estate - correct answers-D: selling a business where
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
the real estate is greater than the business.
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
An apartment information vendor is licensed by:
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
a. Department of Law
|||\\\ |||\\\ |||\\\ |||\\\
b. New York Attorney General's office
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
c. Department of State
|||\\\ |||\\\ |||\\\ |||\\\
d. Division of Housing and Community Rental - correct answersC: Department of State licenses
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
apartment information vendors.... |||\\\ |||\\\
When a license is revoked, how long must a licensee wait before applying to have the license
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
reinstated?
a. 18 months
|||\\\ |||\\\
b. 1 year
|||\\\ |||\\\
c. 6 months
|||\\\ |||\\\
d. 2 years - correct answersB: If a license is revoke licensee must wait 1 year before
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
reapplying..
The form of listing whereby an owner lists property for sale with a number of brokers is known
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
as a(n)
|||\\\
a. Exclusive agency.
|||\\\ |||\\\
b. Open listing.
|||\\\ |||\\\
, c. Exclusive right to sell.
|||\\\ |||\\\ |||\\\ |||\\\
d. Net listing. - correct answersB: In an Open listing the seller allows the property to be shown
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
by many Brokers.
|||\\\ |||\\\
To avoid possible liability for the actions of c cooperating members of a multiple-listing system,
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
the owner who lists property for sale may decline to offer
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
a. commission to the selling agent.
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\
b. Subagency.
|||\\\
c. Cooperation with buyer brokers.
|||\\\ |||\\\ |||\\\ |||\\\
d. A written disclosure of property condition. - correct answersB: By accepting subagency the
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
owner will have no vicarious liability for the Acts of cooperating agents
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
An agent who has the authority to represent the principal in specific matters is a(n):
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
a. specific agent
|||\\\ |||\\\
b. general agent
|||\\\ |||\\\
c. unlimited agent
|||\\\ |||\\\
d. special agent - correct answers-B: A general agent has specific authority in representing
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
owners.
Jan Lipson gave Sun City Realty an exclusive agency listing on her property. If she sells the
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
Property herself without involving Sun City, She will owe Sun City |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
a. Half of the commission.
|||\\\ |||\\\ |||\\\ |||\\\
b. All of the commission.
|||\\\ |||\\\ |||\\\ |||\\\
c. No commission.
|||\\\ |||\\\
d. Only reimbursement for Sun City's expenses. - correct answersC: With the Exclusive Agency
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
the owner owes no commission.
|||\\\ |||\\\ |||\\\ |||\\\
15-When selling a property in New York, the Licensee is required to disclose to a potential |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
ESTATE EXAM with correct answers
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\
1-A broker legitimately may pay all or part of Real estate commission to a
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
a. seller |||\\\
b. salesperson
|||\\\
c. buyer |||\\\
d. friend who provides a listing lead - correct answers-B: Salesperson can accept compensation
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
only from their sponsoring broker.
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\
2-The minimum age for a New York real estate broker's license is
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
a. 19. |||\\\
b. 18. |||\\\
c. 20. |||\\\
d. 21. - correct answersC. As of July 1,2008 to become a broker you must be 20 years old.
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
3-Which of the following acts would require a real estate license in New York
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
a. Sale of one's own property
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\
b. Sale by the owner's lawyer
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\
c. Sale of land by an auctioneer
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
d. Foreclosure sale by court order - correct answersC: selling land at an auction.
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
4-An associate broker may |||\\\ |||\\\ |||\\\
a. sponsor a person for a salesperson's license.
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
,b. collect his or her own real estate fees.
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
c. act as a principal broker for another broker.
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
d. Work as a salesperson for a principal broker - correct answersD: Associate broker is a
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
licensed broker but chooses to work under the supervision of another broker.
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
5-Violation of the license law is a misdemeanor, Punishable by up to a year in jail and a fine of
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
Up to |||\\\
a. $500.
|||\\\
b. $2,000.
|||\\\
c. $1,000.
|||\\\
d. $1,500. - correct answersC: DOS may impose a fine not to exceed $1000.
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
6-When salesperson Tom Jones left ABC Realty And went to work with XYZ REALTORS,
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
Tom's listings |||\\\
a. became null and void.
|||\\\ |||\\\ |||\\\ |||\\\
b. Remained with ABC Realty.
|||\\\ |||\\\ |||\\\ |||\\\
c. Went with him to XYZ REALTORS.
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
d. Required the sellers' signatures to remain in the local MLS. - correct answersB: When a
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
licensee terminates with a broker they must turn over all information.
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
A salesperson's license must be
|||\\\ |||\\\ |||\\\ |||\\\
a. displayed on the firm's wall.
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\
b. kept in the salesperson's wallet
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\
c. retained by the principal broker.
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\
d. d. sent to the local REALTORS association. - correct answersC: Kept by the broker in a safe
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
place.
,8-When does offering a client's business for sale Require a real estate license?
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
a. Never
|||\\\
b. Always
|||\\\
c. When the business includes any real estate
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
d. When more than half the value is real estate - correct answers-D: selling a business where
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
the real estate is greater than the business.
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
An apartment information vendor is licensed by:
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
a. Department of Law
|||\\\ |||\\\ |||\\\ |||\\\
b. New York Attorney General's office
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
c. Department of State
|||\\\ |||\\\ |||\\\ |||\\\
d. Division of Housing and Community Rental - correct answersC: Department of State licenses
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
apartment information vendors.... |||\\\ |||\\\
When a license is revoked, how long must a licensee wait before applying to have the license
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
reinstated?
a. 18 months
|||\\\ |||\\\
b. 1 year
|||\\\ |||\\\
c. 6 months
|||\\\ |||\\\
d. 2 years - correct answersB: If a license is revoke licensee must wait 1 year before
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
reapplying..
The form of listing whereby an owner lists property for sale with a number of brokers is known
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
as a(n)
|||\\\
a. Exclusive agency.
|||\\\ |||\\\
b. Open listing.
|||\\\ |||\\\
, c. Exclusive right to sell.
|||\\\ |||\\\ |||\\\ |||\\\
d. Net listing. - correct answersB: In an Open listing the seller allows the property to be shown
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
by many Brokers.
|||\\\ |||\\\
To avoid possible liability for the actions of c cooperating members of a multiple-listing system,
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
the owner who lists property for sale may decline to offer
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
a. commission to the selling agent.
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\
b. Subagency.
|||\\\
c. Cooperation with buyer brokers.
|||\\\ |||\\\ |||\\\ |||\\\
d. A written disclosure of property condition. - correct answersB: By accepting subagency the
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
owner will have no vicarious liability for the Acts of cooperating agents
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
An agent who has the authority to represent the principal in specific matters is a(n):
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
a. specific agent
|||\\\ |||\\\
b. general agent
|||\\\ |||\\\
c. unlimited agent
|||\\\ |||\\\
d. special agent - correct answers-B: A general agent has specific authority in representing
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
owners.
Jan Lipson gave Sun City Realty an exclusive agency listing on her property. If she sells the
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
Property herself without involving Sun City, She will owe Sun City |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
a. Half of the commission.
|||\\\ |||\\\ |||\\\ |||\\\
b. All of the commission.
|||\\\ |||\\\ |||\\\ |||\\\
c. No commission.
|||\\\ |||\\\
d. Only reimbursement for Sun City's expenses. - correct answersC: With the Exclusive Agency
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
the owner owes no commission.
|||\\\ |||\\\ |||\\\ |||\\\
15-When selling a property in New York, the Licensee is required to disclose to a potential |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
