Quick Answer: Which of the following does not require a real estate license for the sale of real property quizlet?

Who of the following do not require a real estate license?

A real estate investor may, or may not need to have a real estate license. If an investor is buying and selling their own properties, they don’t need a real estate license. Anyone can buy and sell their own property without representation, and without a license.

What are the types of real estate licenses?

Types of Real Estate Licenses

  • Broker License. To qualify for a broker’s license, you must take an approved 90-hour pre licensing course. …
  • Managing Broker. A managing broker directly supervises other brokers. …
  • Leasing Agent.

Which of the following is an acceptable name for a real estate team quizlet?

A. Because the law does not prohibit such words, the answer is yes, provided you include the surname of at least one team member, and include the words “group,” “team,” or “associates.” For example, the “Smith Real Estate Team” would be allowed as an acceptable team name.

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When a broker has mixed the funds of his or her principals with is or her own money it is called?

Example: “Buy this home and it will dou- ble in value in six weeks!” Commingling takes place when a broker has mixed the funds of his or her principal with the broker’s own money. Conversion is misappropriating and using the client’s money.

Which activity would require a real estate license?

Among them are: Negotiating for the listing, sale, purchase, exchange, rent, lease or option for. any real estate; Acting as referral agent; or.

What jobs are there in real estate?

9 Types of Jobs in the Real Estate Industry

  • Property Manager. …
  • Head of Marketing. …
  • Mortgage Broker. …
  • Commercial Real Estate Agent. …
  • Real Estate Investor. …
  • Residential or Commercial Appraiser. …
  • Foreclosure Specialist. …
  • Leasing Consultant.

How do you get a broker’s license?

Real Estate Broker General Requirements

  1. Be 18 years of age.
  2. High school diploma or equivalent.
  3. 2 to 4 years of experience as a practicing salesperson.
  4. Complete the required broker education.
  5. Take and pass the broker licensing exam.
  6. Complete the broker license application and pay the required fee.

Do you need a real estate license to flip houses?

You don’t need your real estate license to become a house flipper but it’s a good idea to get your real estate license because it will open up more opportunities for you throughout the process.

Which offer would be the most appealing to a seller?

A cash offer is usually more appealing than a finance offer as the seller doesn’t need to worry about whether the bank will approve your loan,” says Sam Heskel, president of Nadlan Valuation, an appraisal management company in Brooklyn, New York.

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What are the two primary types of property taxes?

These are two distinct forms of taxation: one (ad valorem tax) relies upon the fair market value of the property. The other (special assessment) relies upon a special enhancement called a “benefit” for its justification. The property tax rate is typically given as a percentage.

Which of the following is an example of ostensible agency?

Ostensible agency definition

An ostensible agency refers to the “apparent relationship” that exists between a person appearing to act as the agent of another. Here is an ostensible agency example: Mary hires a contractor to have her kitchen renovated.

What is the result of recording a deed in the public office quizlet?

Therefore, such encumbrances need not be listed in the deed.) What is the result of recording a deed in the public office? Constructive notice (The act of recording provides constructive notice to the world, regardless of whether anyone actually looks for it.

How long must a broker maintain records?

A broker is required to maintain legible records of all transactions, financial records, etc. for a period of five years. If any record has been subject to litigation or used as evidence, it must be maintained until at least two years after the litigation has concluded.

What is an commingling in real estate?

Commingling real estate is when money pooled from multiple investors is mixed, or commingled, with personal funds or the money of others.