Agency

In GA a seller says I want $160,000 for my home and the brokerage company can have everything over that amount. This listing is considered?

A "Net" listing which is prohibited by the GA Real Estate License Law

Under the Federal Fair Housing Act, familial status would apply to?

A pregnant woman

A licensee sent out a broadcast fax to announce a reduced price of a listing property. The fax may include?

An opt out process to prevent receiving future unsolicited advertising faxes.

A salesperson is showing a property in a racially changing neighborhood. Which statement would be appropriate by the salesperson?

Based on the information provided I dont think you can afford that property.

Under the CAN-SPAM Act opt out request must be handled within?

10 bs days

Under the CAN-SPAM Act opt-out request must be handled within?

10 business days

A brokerage company recently had a listing expire. The seller is on the DO NOT CALL LIST. After the end of the transaction for how many months may the agents in the listing office call the seller?

18 months

A property sells for $195,000. The existing loan balance is $114,000 and the sellers closing costs are $2500. What are the sellers net proceeds if the brokerage fee is 6%?

195k - 114K - 2500= $78,500 - (195k x 6%)= 66,800

A licensee should search the National Do Not Call Registry on a regular basis and drop registered consumer phone numbers from their call lists. This should be done at least once every?

31 days

Property listed at $260K and sold for $245K. The closing costs were $2800. The listing broker received a brokerage fee of $14,700. What was the rate of commission?

6% ( 6% of 245000 = 14700.)

Under the Civil Rights Act of 1866 a property for Sale by owner would NOT be exempt from?

Race

Net listing are illegal in GA because?

The potential conflicts they can create between the interest of the principal and the broker self interest

A potential buyer attends an open house on a listed property and inquires on sales price. The interested buyer is registered on the DO NOT CALL Registry. Can the salesperson call the the buyer?

Yes can call up to 3 months after the consumer makes the inquiry.

If a listing has expired can the agents of the listing brokerage firm that handled the listing contact the seller, if the sellers name is on the do not call list?

Yes up to 18 months

A potential buyer attends an open house on a newly listed property. The buyer makes an inquiry with the listing agent about the price of the property. At a later date the agent wants to follow up with the buyer only to find the buyer is listed on the DO NOT CALL list. Can the agent call the buyer concerning the property?

yes up to 3 months after the inquiry.

An offer to purchase with a $500 earnest money check is received on Monday evening. The offer states the salesperson is to hold the earnest money until the offer is accepted by the seller. Your broker requires all earnest money deposits be turned over to the office manager during normal business hours. The offer does not expire until Thursday and the seller is out of town until Weds. The salesperson should?

Deliver the check to their broker on Tuesday morning with instructions to hold the check until the offer is accepted.

In GA two licenses affiliated with the same broker are assigned by the broker to represent the buyer and seller respectively in the same transaction. Under BRRETTA this would be considered?

Designated agency

Which of the following is NOT a violation of the antitrust laws?

Discrimination

Which of the following laws requires the display of equal opportunity posters at real estate brokerage offices, model homes, mortgage lenders offices and other real estate locations?

Federal Fair Housing Act

What type of agency relationship does a real estate sales associate usually have with their employing broker?

General Agency

Which of the following is INCORRECT about open listing?

In GA open listings do not have to be in writing ( this is an untrue stmt)

Broker Dole was showing a buyer different apartments for rent in a specific city. The buyer asked Dole to find an apartment that did not allow children as he desired peace and quiet. Broker Dole should?

Inform the buyer that only bona fide retirement communities can legally restrict children.

Those facts that a party does not know, could not reasonably discover, and would reasonably want to know when making a decision best describes?

Material facts and must be disclosed to client only,