Compass 101
In what year and where was Compass founded
2012 in New York City
What CAR form must be used before a buyer or seller can cancel an agreement (contract) for failure of the other party to close escrow
What is a Demand to Close Escrow?
One of the three rent back addendums, that can be used with any purchase agreement and does not limit the length of the seller’s occupancy period. It establishes a temporary license to occupy with a warning that the addendum is not intended to create any type of Landlord and Tenant relationship.
What is the PRDS Seller Occupancy After Sale Addendum?
After what date do residential landlords need to provide prospective tenants with the booklet 'Information on Dampness and Mold for Renters in California'?
What is January 1, 2022?
When is Kathy Mehringer's National Copyright Best Practices Panel?
What is: Monday, February 7, 11:00?
In how many regions is Compass now operating?
22 including
A new line in the latest addition of the CAR Contract under Agency 2C gives you the opportunity to check that more than one Broker represents either the buyer or seller, what is the name of the form that accompanies a contract where more than one Broker represents either the buyer or seller?
What is the Additional Broker Acknowledgement Form?
Under a rent back agreement, Buyers should be advised to exercise this right before and after the COE, prior to a seller vacating the property. This is an optional right, not a contingency and may affect the disbursement of the security deposit.
What is the Walk-Through?
Training aimed at eliminating implicit bias will be required for agents renewing their license. When will this be effective?
January 1, 2023
Which form is used if the Buyer wants the offer to remain confidential?
What is: The Confidentiality and Non-Disclosure Agreement?
In regards to Tax Withholding paragraph 13 of the PRDS Contract, unless changed in the contract, how much time does the seller have during escrow to provide the buyer with a Qualified Substitute Statement?
What is within 7 days of Acceptance
When a CAR Contract is written “Contingent Free” a buyer has the right to access the property for informational purposes only. Unless changed in the contract, how long does the buyer have to access the property during escrow?
What is 17 days?
A buyer’s right related to the seller’s non-exclusive right to use of the property under a rent back agreement. This right is granted to the buyer in all 3 rent back agreements but requires advanced oral or written notice before it can be exercised.
Entry Rights
When does the new law which not only requires modification of restrictive covenants and but also requires a real estate broker or agent with actual knowledge of possible unlawfully restrictive covenants being delivered to notify the originating party (title company) become effective?
July 1, 2022
How do you document Seller's Acknowledgement of the mls data sheet?
What is: Get the Seller's signature on the mls data sheet?
Under the PRDS Contract the definition of a fully completed TDS differs from the CAR Contract. True or False, CONTRACTUALLY under the PRDS Contract a fully completed TDS does not include an AVID from the buyer's agent.
What is false
Whether using the CAR Contract or the PRDS Contract, what form should be given to either the buyer or seller when they chose to cancel a contract BEFORE notifying the other party?
What is the PRDS Cancellation Of Contract Advisory
A fee that is non-refundable, paid by the seller at COE under a CAR/SF Seller in Possession agreements.
What is the License Fee?
Beginning this date, Cal Fire must designate moderate, high and very high fire hazard zones within local areas.
What is: January 1, 2022?
Where do I disclose my financial interest in a property (or that of a member of my immediate family) I am selling or when I am acting as a buyer?
What is the Purchase Contract?