Technology
Lists phone numbers of consumers who have asked not to be registered and prohibits interstate calls to those numbers to sell goods or services.
What is the National Do-Not Call Registry
A professional license to buy, sell, exchange, or lease real property for others for a fee.
What is a broker?
compensation, flat fee, or a brokers fee earned from total sales price.
What is Commision?
The 4 types of antitrust laws.
What is price fixing, group boycotting, allocation of customers/markets and tie in agreements?
An unlicensed professional who can answer the phone, write advertisement materials and obtain legal documents from the town hall.
Can be paid by The salesperson or the broker
What is a real estate assistant?
Junk emails.
What is CAN-SPAM act?
A salesperson or broker who is licensed to perform real estate activities only on behalf of a broker.
What is a sales associate?
The broker or brokers associate must have started an uninterupted chain of events resulting in the sale.
What is a procuring cause?
Agreements to sell one product only if the buyer purchases another product as well. The sale of the 1st (desired) product is tied to the purchase of the 2nd (less desirable)
What is tie in agreements?
A document proving formal employment between the employing broker and the salesperson.
What is an Employment Agreement?
Restriction on collection of information from children younger than 13 by means of the internet.
What is COPPA (Children's Online Privacy Protection Act)?
The sales associate must have a current real estate license
The sales associate must have a written contract with the broker that specifies that the associate will not be treated as an employee for federal tax purposes.
A substantial portion of the associates income as a real estate professional must be based on sales production or other output and not the number of hours worked.
What is a nonemployee?
Accept delivery of and present offers and counteroffers to the client
assist the client in developing, negotiating, and presenting offers and counteroffers and ;
Answer the questions about offers, counteroffers and contingencies
What is minimum services?
Involves an agreement between real estate brokers to divide their markets and refrain from competing for each other's business.
What is the allocation of customers and markets?
A Broker's compensation is based on charges for separate activities that the client desires ; aka unbundling services
What is fee for service?
A policy that allows members to limit the internet distribution of listing information.
What is Internet Data Exchange?
A professional who may receive salary in lieu of in addition to compensation; and has an employer who IS required to withhold taxes and other federal/state taxes; has set hours and duties.
What is an Employee?
When a sales associates compensation is based on achieving specified production goals.
What is graduated commission ?
A practice in which competitors agree to set prices or other terms & conditions for products or services rather than letting competition in the open market establish those prices.
What is price fixing?
the broker can be held responsible for the conduct while performing broker activities of every associate employed by the broker.
What is Vicarious Liability?
Avoid
Control
Transfer
Retain
What is Risk Management?
An employee who usually receives compensation, with no withholding for taxes and other purposes, and has the freedom to set hours and accomplish goals.
What is an Independent Contractor?
A marketing organization made of member real estate professionals who agree to share their listing agreements with one another in the hope of procuring ready, willing and able buyers.
What is MLS (multiple listing services)?
Occurs when 2 or more businesses conspire against another business or agree to withhold their patronage to reduce competition illegally.
What is group boycotting?
One who is prepared to buy on the seller's terms and is ready to take positive steps toward consumption of the transaction.
What is a Ready, Willing and Able buyer?