Chapter 33 - Marketing and Communication

Question 1

Blind Ad

Answer 1

Any real estate advertisement that does not include the sponsoring broker’s business name and that is used by any licensee regarding the sale or lease of real estate.

Question 2

Counteroffer

Answer 2

A response to an offer to enter into a contract, changing some o the terms of the original offer; a rejection of the original offer and does not create a binding contract unless the new counteroffer is accepted by the original offeror

Question 3

Meeting of the Minds

Answer 3

Acceptance of the terms of an offer

Question 4

Multiple Listing Service

Answer 4

A listing service whereby local member brokers agree to share listings, and agree to share commissions on properties sold jointly

Question 5

Offer

Answer 5

When one person proposes a contract to another and that offer is accepted, a binding contract is formed

Question 6

True Picture

Answer 6

The mandate to present accurate words and images that do not misrepresent a property or mislead a consumer in a advertising, marketing and other representations.