Chapter 5: Real Estate Brokerage Flashcards Preview

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Flashcards in Chapter 5: Real Estate Brokerage Deck (10):

A broker list of the sellers home for $300,000. Before the listing contract expired, the broker brought the seller a full price offer on the sellers terms, containing no contingencies. The seller then decided not to sell what is true about the statement?

Seller probably is liable for the commission


A sponsoring broker must have a written employment agreement with?

Independent contractors

Licensed personal assistance

Sponsored brokers


One general rule of the national do not call registry is?

It is illegal to make an unsolicited phone call to a number listed on the national registry


Federal regulations on unsolicited emails require what?

Require commercial emails to include a physical address, among other things, for the sender.


Real estate license these who are paid in a lump sum and who are personally responsible for paying their own taxes are probably?

Independent contractors


A licensee entered into a contract with her sponsoring broker, specifying that she is not an employee. In the past year, just less than half of the life in these income from real estate activities came from sales commissions. The remainder was based on an hourly wage paid by the sponsoring broker for office administrative duties. Using effect, what is most likely that the IRS would classify the life in the as?



What can a sponsoring broker dictate to an independent contractor?

Compensation the person would receive.


The amount of commission paid to a sponsored licensee is determined by?

Mutual agreement with the sponsoring broker


A new sponsored real estate license he wants to buy new business among the firms expired listings. Under the national do not call registry, for how long after the listing has expired May the licensee solicit business from the firms previous listings?

Up to 18 months after the listing has expired


To recover commission for brokerage services, a sponsoring broker must be employed as the agent the seller. What explains the meaning of the sentence

The seller must have made an express or implied agreement to pay a commission to the sponsoring broker for selling the property