principles of real estate 1 unit 12 study questions

If a seller lists property with a broker who is a member of a multiple listing service, which of the following applies?

the listing broker may offer differing amounts of compensation to subagents and to buyer agents.

Sellers and landlords must disclose to buyers and tenants any knowledge of lead-based paint in properties built before

1978

Open listings can be used for any property, but MOST often are found where?

Commercial/industrial sales

In what kind of listing is information shared with other brokers?

Multiple

If there is a known sex offender in a neighborhood, is the seller obligated to disclose it?

No

When must the broker or the sales agent give the seller the Information About Brokerage Services form that explains agency positions?

On the first substantive dialogue with the seller

If a person places their phone number on the do-not-call registry, how many years does it stay on the list before it is eligible again for cold calling?

Permanently

Which sellers must provide a seller's disclosure notice to a buyer on or before the effective date of a contract?

Seller of residential property of not more than one unit

A seller of unimproved property located in a certificated service area of a utility service provider, must give written notice to a purchaser of which of the following?

That there might be a delay in the utility's ability to provide services and that extension of water or sewer services might require additional expense to the purchaser

Is it possible for consumers to discriminate against some telemarketing calls?

Yes, consumers may direct individual companies to stop calling them.

If the broker has done nothing to market the property, the seller may be able to terminate the listing due to

abandonment by the broker.

When taking listing information, why must sales agents be careful what they write about such facilities as churches and schools?

because of fair housing laws. Although listing proximity to a specific school or church might be factual, it also might suggest the area is poor or more dangerous than another area.

"Only if the listing broker was in any way a procuring cause in the transaction may the listing broker be entitled to a commission" does NOT apply to which listing?

exclusive right-to-sell listing

Penalties for violating do-not-call regulations may be

fines up to $11,000 per call, or $16,000 if made from a robocall system.

Under Texas law, real estate agents are permitted to call individuals on the do-not-call list if they have had a previous business relationship with the person, have received permission to call the person, or

if the call is personally dialed and is not, in itself, an attempt to sell a property over the phone.

A listing agreement

must contain a definite termination date.

The amount of commission is determined by

negotiation between the seller and the broker.

If a property is being transferred through a will to a family member, is a disclosure necessary?

no, a property transferred via a will does not need a disclosure.

An area of needless controversy that seems to come up regarding many listing is

number of rooms and accurate measurements.