Contracts
When does the Standard Contract become binding? 2 correct answers
1. when it has been signed by both parties
2. and/or when the party to whom the offer has been made has communicated that they have signed to the offering party.
I have a friend looking to sell her property in Raleigh. I referred her an agent and notified my friend that I would be getting paid a referral fee. The property closed and I received a check and CD. I noticed the agent was a dual agent and represented both sides of the transaction, however, I was only paid on the list side. Should the referral fee be based on both sides?
No if you checked the first box the referring agent was only due the list side fee. A good way around that is to check the "other" box and describe the referral fee that is different.
Where does Coldwell Banker Sea Coast Advantage rank in top Coldwell Banker Offices for the United States?
Number 1
Where do you find your leads from Social Ad Engine on CBexchange?
If a seller is deceased who should sign the listing agreement if the tax records is still reflected as him and his deceased wife's names and the will states the property will be left to his children in equal shares and one child, Annie Smith is named executor?
Annie Smith signs as individual and Executor of the Estate. And all heirs and spouses sign.
When is earnest money deposit refundable? 2 correct answers...
1. When buyer's notify to seller prior to end of due diligence that buyer is terminating the contract
2. Seller's inability to complete the transaction
If I work with a buyer and help her find a lot to build on and refer her a builder to build the house. I will be paid a commission on the lot and referral fee from the builder. Do I need any other forms besides buyer agency?
Yes you need a written referral agreement with the builder.
How many offices does Sea Coast currently have?
22
Which tool allows you do download social media links for your listings?
Circlepix
What if the will specifically leaves the property to the Executor with specific instructions to sell the property and then distribute the proceeds a certain way? How is it signed then?
In that case the executor can be the only one signing.
Should the results of a survey be received during due diligence period?
No this is not required to be completed by end of DD period because the OTP states that the buyer must be able to give clean title. A blemish on the survey would negate that.
May a broker practicing dual agency suggest to either party an amount to offer or counteroffer for a property?
No, however they may do a CMA
1988
What tool will tell you where you buyer is most likely to come from?
Buyer locator in CBexchange
When should you be changing over to the new logo and change out your signs?
NOW
Who pays for special assessments?
Unless otherwise agreed upon by the parties, Special Assessments that are confirmed prior to settlement must be paid by the seller, including payments that may become due after settlement if their amount is known. Assessments that are under consideration but have not been approved prior to settlement are the responsibility of the buyer.
Should a buyer's agent be present at all inspections?
Yes, the NC Real Estate Commission has stated that buyer's agents should be present at inspections with 2 exceptions
1.Exception is appraisals b/c appraisers are licensed brokers
2. Exception if inspection does not require entering the inside of the property
Was was 2019 Total Sales Volume?
2 Billion plus
What source do we use to capture and download into excel sheets info on cancelled, withdrawn, and FSBO leads?
Vulcan 7
As a listing agent should you request a copy of the will to read?
absolutely!
A buyer decides to terminate the contract while in due diligence, however said buyer has a buyer possession prior to closing agreement in place. If buyer terminates are they still required to pay the agreed upon rent?
No, BPBC agreement states that it will terminate at the earlier of closing or termination of the contract.
Can two members of the same team be designated agents for a buyer and seller?
Yes...While this is permissable it is not recommended by the NCREC. If agents are truly acting as a team then arguably all members of that team receive information from teams clients including confidential information.
How many countries is Coldwell Banker in?
49
What is a good tool to use when communicating information about your listing to the seller?
Seller Web Advantage Report
What notice needs to be published before the property can be transferred out of an open estate?