Sean Oregon Real Estate License Law Study Set (Guaranteed Pass!)

Do you need a real estate license to sell a mobile home on a rented space? correct answers No! Does the real estate agent with a lapsed license need to have an active license when lease-optioning personally-owned real estate? correct answers No - but they must do all other duties as if they WERE being supervised, IE keep finacial records, hold funds in neutral escrow, etc. Which situation requires a property manager to comply with license law and administrative rules? rental or lease-option of personal real estate correct answers lease option A licensed real estate property manager may correct answers collect a commission for the lease of an owner's real estate property Property management agreements may be negotiated and signed by a 1. real estate property manager. 2. real estate broker associated with a principal real estate broker who allows property management. 3. non-licensed employee of a principal real estate broker. correct answers 1 *AND* 2 only Non-licensed employees of a property manager may 1. collect rents from tenants. 2. negotiate property management agreements with owners. 3. negotiate rental agreements with tenants. 4. show properties to prospective tenants. I only IV only II and III only I, III and IV only correct answers I, III and IV only The license of an active Oregon real estate broker who is associated with a principal broker 1. must be renewed before the expiration date to remain active 2. must be displayed in the office of the principal broker under whom the broker is licensed I only II only Both I and II Neither I nor II correct answers 1 only! With their principal broker's permission and supervision, a real estate broker could do which of the following? 1. Manage an office for 120 consecutive days 2. Close a transaction I only II only