Chappell Team 101
Luke
This body issues and regulates real estate licenses in North Carolina
NCREC
This agreement is required before you are able to show a property to a customer
Buyer Agency Agreement
A fact that could affect a property’s value or desirability is called this
Material Fact
In NC, at “First Substantial Contact”, you must provide this Commission publication
WWREA
In this year, NextHome Cape Fear was first opened
2017
A provisional broker must work under the supervision of this person
BIC
This disclosure form must be provided even when a property is being sold “as-is”
RPOADS
This agency status requires written consent from all parties
Dual Agency
All real estate advertising must include this clearly
Brokerage Firm Name
NextHome was originally founded in this state
California
Brokers must complete this required course annually to maintain active license status
GENUP/Elective
Transaction documents must be retained for this minimum number of years in NC
3 Years
This is the official title of the party that holds funds until closing
Escrow Agent
The reason behind the August 17th, 2024 settlement, this must be negotiated and agreed to in writing with buyers
Buyer Agent Compensation
NextHome separates itself from other brokerages because at our core value is this famous slogan
Humans Over Houses
A broker whose license is inactive may perform this many brokerage activities
Zero
This document would be needed if my clients want to change the closing date
Agreement to Amend Contract
According for Form 2-T Offer to Purchase and Contract, what are sellers obligated to repair during due diligence
Nothing
Under the NAR settlement, this can no longer be advertised on MLS listings
Buyer Agent Compensation
NextHome franchises are located all over the country but this is the only state out of 50 that we are not located
Rhode Island
This is the maximum amount of time a North Carolina Real Estate License may remain inactive before requalification is required
5 years
Homes built before this year require a Lead Based Paint Disclosure
1978
The buyer’s due diligence period officially starts on this contract defined date
Effective Date
In North Carolina, if a licensee doesn’t complete their CE, their license goes into this status July 1
Inactive