A listing agree Study guides, Class notes & Summaries

When does a salesperson have a listing? - When the listing is signed. A salesperson and a co-operating salesperson are representing both the buyer and the seller, who would fiduciary be owed to? - Both the buyer and the seller. What do the seller and the listing broker have to agree on when listing a property? - The ending date of the listing. In an agency relationship, the primary ethical duty of a broker is to: - Represent the principal. When a salesperson obtains a listing: - It is prop...

Accumulated Depreciation - ANSWER-The total decrease in an item's value over a period of time. Formula: (Annual Depreciation x Number of years used) Actual Cash Value (ACV) - ANSWER-A valuation method used by insurers to reflect an item's current market value right before being damaged or destroyed. Formula: (Replacement cost - Accumulated Depreciation) Adhesion - ANSWER-One of the characteristics of an insurance contract. Means that one party (the insurer) sets the terms, and the other ...

Wisconsin Real Estate Exam Prep Questions and Answers Already Passed A seller signs listing contract with firm. Who is the agent who is the principal? Seller is the principal, firm is the agent. If you are the listing agent and a buyer asks you to write an offer but does not sign an agency agreement, how do you describe the buyer? Customer What kind of agency is the firm practicing if they represent just one party in a transaction? Single Agency When can a firm engage in multiple...

WRA EXAM 2024 WITH COMPLETE SOLUTIONS. The WB-11 Residential Offer to Purchase describes which of the following as the way an earnest money payment should be handled as a result of a sale involving cooperating firms? - ANSWER The selling licensee should have all earnest money checks paid directly to the listing firm... Explanation: The Earnest Money section of the offer states: "Unless otherwise agreed, earnest money shall be paid to and held in the trust account of the listing broker." ...

National Portion - Real Estate Exam Prep Questions and Answers Rated A+ agency a consensual fiduciary relationship authorizing a broker to act on the behalf of a client Fiduciary Relationship a relationship in which one party places special trust, confidence, and reliance in a trusted person Principal a person (client) who empowers another (agent) to act as his or her representative in a real estate transaction client those which have entered into a written agency agreement with ...

Superior School of Real Estate Final Exam| Questions and Answers, 100% Correct| Latest 2024 Superior School of Real Estate Final Exam| Questions and Answers, 100% Correct| Latest 2024 Which of the following would create legally binding acceptance of a written offer? The seller's agent emails the buyer's agent that the seller signed the offer as written. A broker is preparing a comparative market analysis (CMA) for a subject property with 3200 square feet. A comparable property has 27...

If a buyer decides to terminate a contract, the seller must agree to the termination. A) True B) False - ANSWER-B) False Which of the following, with written, consent, may act as an Intermediary? A) The Broker representing the seller and buyer B) The Broker cooperating with the listing broker C) The salesman working with the seller and buyer D) The salesman sponsored by a broker representing the seller - ANSWER-A) The Broker representing the seller and buyer An agent would us...

WRA EXAM 2024 WITH COMPLETE SOLUTIONS. The WB-11 Residential Offer to Purchase describes which of the following as the way an earnest money payment should be handled as a result of a sale involving cooperating firms? - ANSWER The selling licensee should have all earnest money checks paid directly to the listing firm... Explanation: The Earnest Money section of the offer states: "Unless otherwise agreed, earnest money shall be paid to and held in the trust account of the listing broker." ...

COLORADO CONTRACTS AND REGULATIONS PT. 2 EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+/ VERIFIED. In a transaction with a listing broker and a broker acting as. buyers agent, who normally holds the earnest money? - -the listing broker when a broker and a buyer enter into an exclusive right to buy contract; the: - -buyer is bound to work with only one broker during the contract in the exclusive fight to buy contract agreement, regarding the commission --the buyers broker might share in ...

Under the Americans with Disabilities Act, there must be at least one accessible parking space for every correct answers 25 spaces The accessible parking space should be eight feet wide for a car, with a five-foot access aisle. At least one space must be van accessible (eight feet wide with an eight-foot access aisle and at least 98 inches of vertical clearance). The accessible spaces should be the closest available to the accessible entrance. When at least 80% of units in a complex have a...