Before engaging in any licensed activities a designated broker intending to establish a limited agency relationship with a seller, or landlord shall enter into what with the party to be represented?
Written agency agreement
Which of the following is NOT a general strategy for managing risk in real estate brokerage?
Three strategies for addressing risks – avoid, share, and transfer
One major element of an effective risk management program is
a procedures manual.
If the brokerage receives a commission for the sale of a home warranty, the fact of the commission must be disclosed to
the party paying for the warranty
The exact nature of the services should be
documented and signed by all principals to the agreement
If a licensee says, “I (or my office) charge X%, which is the same rate that everyone in town charges,” this leaves the agent and the broker open to which of the following?
A lesser-appraised value might require
the seller to take less for the property.
Which of the following fees associated with mortgage lending are negotiable?
This unit discussed how many strategies for managing risk?
One of the greatest risk questions for a licensee is
What commission do you charge to sell a house?
Although many real estate agents do not realize when they telephone a For-Sale-By-Owner for a one-time showing, they are
The licensee has an oral agreement that the seller will not attempt to sell the property to the client or customer who is working with the licensee and that if the agent licensee sells the property the seller will pay a commission
Missouri real estate laws require that
real estate contracts be in writing