brokers have liability to commission salespeople as to brokers have liability to commission salespeople as to

Under the cash basis of accounting, you should record a commission when it is paid, so there is a credit to the cash account and a debit to the commission expense account. an accredited property manager. because you concentrate on a small number of select properties, you are able to give more individual attention to the property. As an indication of value, which of the following would BEST indicate the market value of a home? (page 38), The purpose of a broker providing a sliding commission scale that rises as sales volume increases is to. No. both 30-day month and 360-day year. information about the buyers. No. delegating paperwork to others. Which of the following statements regarding display advertising is TRUE? In a sublease, the sublessor is liable to the owner. you should divide your time equally between A, B, C, and D category activities. salesperson is not responsible to a broker. land it is sited on. 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. the firms logo. all of these. You will not post any defamatory, discriminatory, libelous, threatening, vulgar, sexually explicit, abusive, profane, rude, or obscene content (including comments); b. This exception does not apply if the owner has asked your company to place his number on the company do-not-call list. The case proceeded to a jury which found for the defendant REALTOR. It should be completed annually to reaffirm the relationship that exists between you and your agents. He says to them, "Would you prefer to take possession on September 1 or October 1?" a. While HUD may provide general guidance, the department does not approve individual business plans, and generally does not opine as to what amounts constitute fair and reasonable compensation. Noncomforming loans are Jumbo loans.Page 514. Holden Act. visual inspections. The Real Estate Commissioners suggestions for professional conduct include that the agent. For copies of the procedures or applications, contact the Legal Affairs Department. It was more important than it is now, because consumer products were less sophisticated. A sample of 100 is used and the population standard deviation is 12 . \end{aligned} Disclose as soon as possible, confirm with offer.page 119-120. What kind of listing did Broker Baker have if Owner Adams has no commission obligation to Broker Baker? d. all of the above 4. say, I will give you the address if you give me your name. say, Would it be all right if I sent you some information and photos of that property and several others? say, Im sorry; office policy prohibits me from discussing any properties if I dont know with whom I am talking., say, Would it be all right if I sent you some information and photos of that property and several others?, It is not threatening and most will agree. Which of the following statements regarding the time it takes for a property to sell is TRUE? eminent domain. One of the requirements for a real estate salesperson to be regarded as an independent contractor by Independent Contractor Status Frequently Asked Questions Without all owners, it cant be accepted.Page 479. B. motivate salespeople . Both Primary financing refers to loans made directly by the lender to the borrower and Secondary financing refers to the resale of existing loans. ), The purpose of a broker providing a sliding commission scale that rises as sales volume increases is to. have a quicker sale. salesperson is not supervised by the broker. (Page 397), When a caller wont give a name, the best approach would be to, hang up. Press release Yellow pages of a telephone directory Direct mail Billboard, A billboard that states Thomas RealtyA Name You Can Trust would be regarded as. unrecorded liens. both buyer and seller must agree to amend the escrow instructions. ), Chapter one of the 'Real Estate Practice' book for California Realty Training. Such as an equity line of credit.Page 531, A rescission right until midnight of the 3rd day after signing is provided for by. independent contractor for tax purposes. Fair Housing Month signifies a recommitment to advancing equitable opportunities and expanding homeownership. allow the prospective buyers to bring along a friend or confidant. (Page 369), In advertising, the real estate agent should know that it is illegal to. Information about real estate agent and mortgage broker compensation first appeared in a 1995 HUD informal advisory opinion issued to the Independent Bankers Association of America. cashiers checks. Brown Act. Attorneys Savings associations All of these Banks, As well as brokers, under specified circumstances.Page 577. provides extended coverage for lenders. demand advertising. both the worse you make the property appear, the greater your response is likely to be and people are attracted to fixer-upper ads because they sense a bargain. What are the advantages of a good time-management program? Three years after the purchase, the property flooded and the buyers then learned that the property had previously flooded. No title insurance covers zoning changes.Page 599. cash. exclusive right to sell net listing. (Page 411), When showing a property to a prospective buyer, the agent should. One who has children. Reg. Holden Act. I recently got my brokers license, but I dont sponsor any agents. There are many lawsuits in which a Texas REALTOR may be involved that are not significant to Texas REALTORS or the real estate industry as a whole. the Truth in Lending Act. an exclusive listing without a termination date. The Austin Federal District Court disregarded the savings and loans claims and upheld the Texas Constitution. Brokers have liability to commission salespeople as to a. unemployment insurance. real property taxes. a subordination clause. It is also acceptable to classify it as part of the expenses of the sales department. Conceal the fact that the advertiser is an agent, But any indication, like Agt., meets the requirement.Page 366. Incentive to do more and to stay.page 20 let the owners know which offers provide the agent with the greatest benefits. One large picture is generally more effective than several smaller pictures. Prohibited by Civil Rights Act of 1968 and the Holden Act.page 71. steering. exclusive agency listing. institutions within an area that influence behavior. (Page 352). all parties the agent has dealings with. Most people read from the upper left to the lower right corner when looking at an ad. Use =.01\alpha=.01=.01. 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. the buyer sign that they have received a booklet titled Environmental Hazards: A Guide for Homeowners, Buyers, Landlords, and Tenants. a subsidized rent program for low-income tenants. You should consult an attorney regarding the risks involved and how to protect yourself from liability before agreeing to this situation. Which of the following statements regarding mobile home sales is TRUE? Mentioning it could be steering. Brokers have liability to commission salespeople as to - workers compensation. ask leading questions. Which of the following is an example of a tie-down? taxes based on a persons ability to pay. broker-salesperson contract states that the salesperson shall be treated as an independent contractor for tax purposes. One of the requirements for a real estate salesperson to be regarded as an independent contractor by the IRS is that the, d.) (broker-salesperson contract states that the salesperson shall be treated as an independent contractor for tax purposes. b. workers compensation. total monthly housing expenses plus monthly long-term credit obligations divided by gross monthly income. You should contact your attorney to obtain advice with respect to any particular issue or problem. price. a sports car to show you are a modern person. both 39 years for the property life and the straight-line method. The earthquake safety disclosure statement. rent skimming. both the exchange property must be identified within 45 days and the exchange must be completed no more than 180 days after transfer of exchanged property. What is the best test to evaluate if an act is ethical? lack of capacity of a grantor. they extend the listing for a longer period as price is related to time to sell. Question 4 1 / 1 pts The purpose of a broker providing a sliding commission scale that rises as sales volume increases is to. Prospecting from legal notices can be effective. a vacant lot. Reimbursing travel expenses of Texas REALTORS who participate in form-development task forces. the most desirable feature. uniformly to all real estate transactions. (b) workers compensation. 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. Instructions to an owner upon taking a listing should include all EXCEPT. both buyer and seller must agree to amend the escrow instructions. The opposite of most advertising. It is primarily reserved for paying the legal expenses of cases that are significant to Texas REALTORS as a class or the real estate industry. You may assume that the concentration is 0 when the cadmium is first discharged; that is, C(0)=0C(0)=0C(0)=0. A broker may require salespeople to be members of the REALTORS association, as it indicates to the broker the sales agents' commitment to the real estate profession and to high ethical standards of practice. applies to 1 to 4 residential units. Plus credit information, cash out sellers, warnings, etc.page 144-149, Compliance with environmental hazards disclosure requires. A recorded abstract of judgment has priority over a homestead declaration when O it was recorded prior to the homestead O the owner has rented the property to another O. both a counteroffer really rejects the offer and once rejected, an offer cannot be accepted. It has also been used to fund the filing of analyses and comments before governmental agencies. (Page 388). 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. both a debit on the buyers closing statement and a credit on the sellers closing statement. Flyer pointing out attractive features about a property. Owners are most interested in the bottom line.Page 490, When an offer is received, the owner should be made aware that. risk. A person employed by a builder to sell the builders homes is exempt from the Real Estate License Act. I know that Texas Real Estate Commission rules require a broker to maintain written policies and procedures for the brokers sponsored salespersons. 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). Helping Texas REALTORS understand their legal rights and duties under law 2. The sellers MOST common objection to an offer is. gap loan. show buyers homes they cannot afford to impress them with the caliber of homes to which the agent has access. present the firms offer first and, if rejected, then present the other offer(s). How does this work and is it legal? that the exchange property must be of like-kind. showing owners you are working on their behalf. These rules come into play any time a real estate broker in a position to refer mortgage business to a lender is paid a thing of value by the lender.