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| Which is a similarity between an exclusive-agency listing and an exclusive-right-to-sell listing? |
Both employ one broker only |
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gettarb Fri, 03 Dec 2010 00:31:09 GMT |
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| A listing contract contains the terms of MLS information, the date of possession, and the |
Protection period |
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gettarb Fri, 03 Dec 2010 00:31:09 GMT |
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| A seller wants to get $90,000 from the sale of the property. The broker sells the property for $110,000, making a $20,000 commission. This is an example of a |
net listing |
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gettarb Fri, 03 Dec 2010 00:29:51 GMT |
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| A homeowner gives open listings to three brokers. The brokers |
each have the opportunity to earn the whole commission |
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gettarb Fri, 03 Dec 2010 00:29:51 GMT |
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| Which ultimately decides the listing price of the property? |
seller |
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gettarb Fri, 03 Dec 2010 00:29:51 GMT |
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| If a disclosure notice regarding membership in a homeowners' association is NOT given before the effective date of the contract, the buyer may terminate the contract by showing just cause within the earlier of seven days after receiving the notice or the date of closing? T/F? |
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gettarb Fri, 03 Dec 2010 00:29:51 GMT |
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| The amount of commission is determined by |
negotiation by the seller and broker |
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gettarb Fri, 03 Dec 2010 00:27:40 GMT |
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| With what kind of listing does the seller employ only one broker? |
Exclusive agency |
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gettarb Fri, 03 Dec 2010 00:27:40 GMT |
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| Sellers and landlords must disclose to buyers and tenants any knowledge of lead-based paint in properties built prior to |
1978 |
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gettarb Fri, 03 Dec 2010 00:27:40 GMT |
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| The parties to the listing contract are the |
Seller and buyer |
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gettarb Fri, 03 Dec 2010 00:27:40 GMT |
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| Items, such as a free-standing refrigerator or gardening tools, that the seller agrees to leave with the real estate are personal property and should be included in the listing contract T/F? |
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gettarb Fri, 03 Dec 2010 00:25:44 GMT |
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| A listing contract is |
A contract of employment |
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gettarb Fri, 03 Dec 2010 00:25:44 GMT |
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| If property being sold is located within a municipal utility district, the seller must give the buyer a statutory notice relating to the bonded indebtedness and the tax rate of the district T/F? |
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gettarb Fri, 03 Dec 2010 00:25:44 GMT |
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| The commission goes to the listing broker no matter who sells the property in a |
Exclusive Right-To-Sell Listing |
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gettarb Fri, 03 Dec 2010 00:25:44 GMT |
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| In what kind of listing is information shared with other brokers? |
Multiple |
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gettarb Fri, 03 Dec 2010 00:23:02 GMT |
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| If the Seller's Disclosure Notice is NOT given prior to the execution of the contract, the purchaser may, within seven days after receiving the notice, terminate the contract |
for any reason |
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gettarb Fri, 03 Dec 2010 00:23:02 GMT |
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| If a seller of vacant land does NOT include in the contract a disclosure notice regarding the possible liability of the purchaser for additional taxes, the responsibility for additional taxes and interest belongs to |
The Seller |
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gettarb Fri, 03 Dec 2010 00:23:02 GMT |
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| Death or incapacity of the broker who had taken the listing would terminate a listing contract T/F? |
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gettarb Fri, 03 Dec 2010 00:23:02 GMT |
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| In an exclusive-right-to-sell listing, only one broker is specifically authorized to act as the exclusive agent of the seller, but the seller is NOT obligated to pay a commission to the broker unless the broker has been the procuring cause of the sale T/F? |
F |
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gettarb Thu, 02 Dec 2010 23:20:29 GMT |
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| Sellers of vacant land must include in the sales contract a Notice of Additional Tax Liability that warns of the purchaser's possible liability for additional taxes T/F? |
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gettarb Thu, 02 Dec 2010 23:20:29 GMT |
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| A net listing is a listing agreement in which the broker's commission, or net profit, is determined when the listing is taken T/F? |
F |
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gettarb Thu, 02 Dec 2010 23:19:27 GMT |
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| A listing contract contains the names and signatures of the buyer and seller as well as the listing price of the property T/F? |
F |
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gettarb Thu, 02 Dec 2010 23:19:27 GMT |
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| It is NOT necessary to gather a lot of information on a property when taking a listing—the important thing is to set up the listing and then acquire further information as you are able T/F? |
F |
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gettarb Thu, 02 Dec 2010 23:19:27 GMT |
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| If the seller fails to provide the notice, Addendum for Unimproved Property Located in a Certificated Service Area of a Utility Service Provider, the purchaser may terminate the contract and, in some cases, sue the seller for damages and reasonable attorney's fees T/F? |
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gettarb Thu, 02 Dec 2010 23:19:27 GMT |
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| A buyer holds sole responsibility for determining and understanding the extent of all obligations related to membership in a property owners' association T/F? |
F |
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gettarb Thu, 02 Dec 2010 23:17:25 GMT |
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| Prior to executing a contract on property located in the Gulf Coast Counties, the seller must disclose the rate of shoreline erosion in the vicinity of the property |
F |
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gettarb Thu, 02 Dec 2010 23:17:25 GMT |
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| The broker can terminate the listing agreement by canceling it T/F? |
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gettarb Thu, 02 Dec 2010 23:17:25 GMT |
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| Noncooperation of the seller can result in the termination of an agency relationship T/F? |
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gettarb Thu, 02 Dec 2010 23:17:25 GMT |
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| Lead-based paint disclosures are NOT required on houses exclusively for the elderly or handicapped, unless there are children living there T/F? |
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gettarb Thu, 02 Dec 2010 06:52:32 GMT |
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| It is a common courtesy for the seller to let potential buyers know about any problems the house has T/F? |
F |
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gettarb Thu, 02 Dec 2010 06:52:32 GMT |
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| In the case of a homestead property that is the separate property of one spouse, only the spouse owning the separate property needs to sign the listing contract T/F? |
F |
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gettarb Thu, 02 Dec 2010 06:52:32 GMT |
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| Verifiable written information supplied by others can be a broker's defense in a lawsuit involving the Texas Deceptive Trade Practices Act T/F? |
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gettarb Thu, 02 Dec 2010 06:52:32 GMT |
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