LICENSURE REQUIREMENTS
1. BE AT LEAST 21 YEARS OLD
2. BE A HIGH SCHOOL GRADUATE
3. COMPLETED 240 HOURS (16 CREDITS) OF REAL ESTATE INSTRUCTION
4. LICENSED SALESPERSON FOR AT LEAST 3 YEARS
At what time should the real estate licensee present the consumer notice to the prospective buyer?
When they get together to discuss the buyer's needs and financial ability
WHAT IS THE BEST DEFINITION OF A BROKER OF RECORD
A broker who is the licensee responsible for the activities in a real estate corporation
a broker manages a large apartment community. The termite company offers the broker $100 each time that the broker hires the termite company; the broker sees no reason to inform the owner. in this situation, this compensation is
ILLEGAL
CEMETERY BROKER
1. 60 HOURS OF INSTRUCTION
2. ENGAGED FOR 3 YEARS AS A SALESPERSON OR CEMETERY SALESPERSON
Real estate licensees may do ALL the following EXCEPT
Which of the following is true regarding the laws for escrow accounts?
The buyer and the seller can agree in writing that the escrow money will not be deposited until the agreement of sale is accepted
Who must hold a real estate license in Pennsylvania?
Full time employee of a builder who negotiates the sale of the real estate of the builder-owner
TIMESHARE SALESPERSON
1. MUST BE AT LEAST 18 YEARS OF AGE
2. COMPLETE 30 HOURS OF INSTRUCTION
3. COMPLETE NOT LESS THAN 30 DAYS OF ONSITE TRAINING
A broker must keep records of all real estate transactions
for at least three years following the date of consummation or termination
How does an agency relationship develop?
ONLY with express written authority
The Real Estate Commission may take disciplinary action against a licensee for all of the following EXCEPT
violating blue sky laws
Generally, the real estate licensee is obligated to
When advertising a property for sale, the broker must include which of the following in the advertisement?
Listing Price
ANSWER: Brokers Business Name
Brokers Address
Legal Description of Property
A salesperson receives an earnest money check from the buyer along with the buyer's offer. The buyer's check must be