Law provides that agents are not liable for failure to disclose any deaths on the property that occurred more than three years ago. every nonresidential listing. They hope to keep fee for themselves.page 190, If your firm is small, to obtain a listing when competing against a large firm you should emphasize that. Which of the following statements regarding display advertising is TRUE? With reasonable expertise of a licensee.page 124. to buyer disclosure only. Others claim that their programs have been blessed by HUD. avoid cooking with foods having strong and lasting odors. Which of the following would constitute an acceptance? A fee based on a transaction between the lender and a consumer is prohibited by RESPA. Independent Contractor Status Frequently Asked Questions (Page 621). (b) workers compensation. B. motivate salespeople . H0:80Ha:<80\begin{aligned} chemical tests of the soil for all dangerous contaminants. Finally, many of the promotional materials claim their compensation programs have received HUD "approval." why the owners should deal with your firm. the worse you make the property appear, the greater your response is likely to be. both applies to 1 to 4 residential units and, Residential Earthquake Hazards Report.Page 124, The proper order of the steps taken in agency disclosure is. Is the legal fund like an errors and omissions insurance policy? The statement, The price seems a little high. All of these A reluctance to leave a property An inquiry as to when possession would be possible, These are words or actions indicating an interest.Page 437-438, An example of an open-ended question would be, Do you like this house? What do you like about this neighborhood? Is there any more information you would like? Can you afford a $1,500 house payment?, What do you like about this neighborhood?, You want an explanation, not yes or no answers.Page 428, For effective communication it is BEST to. first month of the second listing extension. a two-door model to control the passengers. third month of a six-month listing. The REALTOR's errors-and-omissions insurance carrier refused coverage on the basis that the claim involved bodily injury that was excepted from the policy. c. minimum wage requirements. (Page 397), When a caller wont give a name, the best approach would be to, hang up. The seller entitled to it and the buyer pays. an exclusive listing without a termination date. forgery in the chain of title. ground lease. Compute the ppp-value and state your conclusion for each of the following sample results. Which of the following statements regarding the use of goal-setting is FALSE? Attracts attention and is easy to read.Page 357. attention, interest, demand, action. (Page 580). What is the best test to evaluate if an act is ethical? Agents sell while owners seldom sell themselves.Page 239. CA Real Estate Practice Flashcards Preview - Brainscape a former owner had AIDS. do all of these. What kind of loan do they have? Which of the following loans is MOST likely to have the highest initial interest rate? The local association may forward the application to the Texas REALTORS Legal Review Committee recommending that the application be approved, or it may deny the application and return it to the applicant. an FHA home-purchase plan for renters. both federally related loans and 1 to 4 residential units only. neither paying a referral fee to anyone other than his or her own employees nor accepting escrow instructions having blanks that are to be filled in after the instructions are signed. universal exclusion. present them in the order received, obtaining acceptance, rejection, or counteroffer for each offer before proceeding to the next offer. they want to quickly locate property that meets their needs. It has also been used to fund the filing of analyses and comments before governmental agencies. 79 of 100 Bill and Sue secured a mortgage loan that is tied to an index which fluctuates over the life of the loan. both 39 years for the property life and the straight-line method. is satisfied with the area. is merely an offer to insure. the total monthly housing payment divided by the gross monthly income. Which of the following statements regarding mobile home sales is TRUE? At the time of the contract, the agent provided the buyer with a detailed written statement (signed by the buyer) about the toxic dangers and health hazards posed to residents of the subdivision, since it was known that a nearby site was environmentally contaminated. A person employed by a builder to sell the builders homes is exempt from the Real Estate License Act. No. A clear description of the copyrighted work infringed; A statement that you have a good faith belief that the use of the content identified in your DMCA notice is not authorized by the copyright owner, its agent or the law; Your contact information (such as your name, email address and telephone number); A certification, under penalty of perjury, that the DMCA notice is accurate, signed (either electronically or physically) by the copyright owner or the copyright owners legal representative. Case 2: The association filed an amicus brief in an Austin case in which a savings and loan association filed suit against the attorney general of Texas, arguing that federal regulations preempted the Texas Constitution regarding its homestead protection. Owners are most interested in the bottom line.Page 490, When an offer is received, the owner should be made aware that. Are there any additional restrictions or limitations for access to the legal fund? For example, it would be a RESPA violation if you received a fee for every click that resulted in an application or closed loan. federal income taxes. all of these. advertise in designated areas. institutions within an area that influence behavior. b.) Independent Contractor Agreement for Sales Associate, Texas REALTORS is stronger when members work together. greater responsibility. Either Open or Exclusive agency Exclusive agency Exclusive right-to-sell Open, A commission paid only if agent makes sale.Page 264-272. For listing agents, selling real estate involves three separate sales. Even if it is for just a few months.Page 675, A property manager who lives on the property and is employed by the owner, would be. upon delivery of the sellers acceptance. talk fast if the customer talks slowly. inheritance taxes. Disclosure law that also prohibits lender rebates. Which of the following statements regarding ethics is TRUE? a family-oriented home. a listing where the agent was not authorized to accept a deposit. speed up your presentation. promotion and advertising paid by the agent. Brokers have liability to commission salespeople as to workers compensation. real property taxes. Download a PDF of the Model Privacy Policy just for Texas REALTORS from theManuals & Guides page. I will obtain three new listings each month. If you are going to be buying a new car for real estate sales, you should consider - a full-sized, fourdoor car for easy entrance and exit. any of these. that the seller post a bond to cover damages by hazards discovered at a later date. (Page 591). both use their own funds to make loans and service loans they make. Without all owners, it cant be accepted.Page 479. c. You will not post content or take any action on our blog posts that infringes someone elses rights or otherwise violates the law. The Real Estate Recovery Fund is a fund created by the Real Estate License Act that is maintained by the Texas Real Estate Commission (the state agency regulating Texas real estate brokers and salesmen). No. When loan puts a lien on borrowers residence.Page 560. misrepresentation. Directing to properties based on race.page 71. cooperate with other agents in designated areas. I will become a better salesperson. What are the advantages of a good time-management program? A common fee arrangement for commercial property managers would be a. percentage of the net. both paying a referral fee to anyone other than his or her own employees and accepting escrow instructions having blanks that are to be filled in after the instructions are signed. maximum that can be charged for the loan. prior to qualifying the buyer. a particular mobile home park. One of the agents I sponsor wants to also work part time selling homes for a local home builder. Principal residence does not qualify for a tax deferred exchange.Page 628. none of these. meeting objections half-way. you should concentrate on D category activities before proceeding to B and C activities. Brokers who carefully maintain independent contractor relationships and follow the terms of the agreement can reduce their risk of the IRS, the Texas Workforce Commission, or other government agencies asserting that there are employer-employee laws applicable to the relationship. If Im a broker whos exempt from continuing education requirements, do I still have to take the Broker Responsibility course? Both a real estate agent can sell a mobile home in a rental park space and a real estate agent can sell a mobile home with the land it is sited on, But a real estate agent cant sell a mobile home that must be moved. No. it is best to advertise properties in areas or price ranges where other properties are also available. (Once set, goals should never be changed. One way you can do this is by using the Independent Contractor Agreement for Sales Associate (TAR 2301) and the Statement of Understanding (TAR 2302). both a counteroffer really rejects the offer and once rejected, an offer cannot be accepted. property taxes to be increased up to 2% each year. loan in designated areas. the FHA. The caller can afford the home and area or they would not have called. Conceal the fact that the advertiser is an agent, But any indication, like Agt., meets the requirement.Page 366. the factor that makes a neighborhood cohesive. Bait-and-switch advertising is a federal offense. once rejected, an offer cannot be accepted. both you must mention this to a prospective buyer and failure to mention the presence of the group would make you liable for any damages the buyer suffered. Am I still required to have a manual? $3,411.00. an unknown spousal interest. a resident manager. What are the advantages of a good time-management program? newly acquired property to have a maximum basic tax levy of 1%. neither let the buyer know the price so they can consider it before the agent arrives nor arrange to have all owners present for the presentation. both is satisfied with the general appearance of the home and is satisfied with the area. What is legal but unethical now might be illegal tomorrow. (Page 294), In describing sales successes, it would NOT be advantageous to point out that. If you are going to be buying a new car for real estate sales, you should consider . Which of the following statements regarding mobile home sales is TRUE? both it is best to advertise properties in areas or price ranges where other properties are also available and prospective buyers who respond to newspaper ads are likely to buy a property other than the property advertised. Real Estate Practice Wednesday Afternoon RE 141 Section 3303 MSJC.edu provide sufficient facts so the receivers can form valid conclusions.You should be selling the benefits so they are understood.