Lesson 1

Question 1

Windows and doors don’t close and there are cracks in the walls, recommend what test?

Answer 1

Soil Test

Question 2

Refuse the listing anytime the premise is in violation of _____

Answer 2

The law;

Racism, demographics etc …

Question 3

A licensee should _____ the listing if discrimination is a basis itself.

Answer 3

Refuse the listing

Question 4

Licensee says there’s a roof leak or any issue with the property and says don’t tell the buyer. You should

Answer 4

Refuse the listing.

You cannot take the listing if the premise is violating the law

Question 5

If a license applicant is on a delinquent list of child support payers, the licensee will be issued what?

Answer 5

Temporary license 150 days;

If you have back child support you can only get this temporary license.

Will suspend your license if you don’t clear up back child support in the 150 day period.

Question 6

You are technically owed a commission when

Answer 6

When you find a ready, willing and able buyer.

Question 7

Commissions may be due even when if the escrow doesn’t close as long as you found a ready, willing and able buyer with the exception of what

Answer 7

The Buyer can’t get financed because he is now not “Able” to buy

Question 8

Examples of Real estate include?

Real property

Answer 8

1) Land -it’s immovable, fixed.
2) Fixture- chandelier, bathtub toilet etc …
3) Appurtenance -run with the land they are real property; easements ; attached to the land.

Mineral rights; ownership of real property extends to the core of the earth. Like oil in the ground, trees anything rooted etc keep listening !!!

All things are either real property or person property

Question 9

Personal property

Answer 9

All things are either real property or person property