Real estate Final Exam pt 5

The maximum value of a parcel of real estate will be found when a lot has been developed in much the same way as the adjacent neighborhood.  This reflects the principle of

• Conformity

• comparison

• similarity

• n/a

The characteristics required for a property to have value include all of the following EXCEPT

• Depreciation

• Appreciation

• Both

• Neither

Forces which influence value resulting from government regulations such as zoning, building codes, and government loans are known as

• Regulations

• Political Forces

• Building Code and Conduct

• N/A

In setting a price on a house, the prudent broker will

• Advice the seller to set the price low as possible

• Advise the seller to set a price close to the market value

• Advise the seller to set a high price

A building you have listed burns down. This would result

• In termination of the listing contract by operation of law

• extend the listing contract by law

• It will put a hold on the listing contract

If no longer wishing to be represented by a broker, a principal may

• Pay up to $1000 to end agreement

• Sign a termination form and remove license

• Revoke the brokerage agreement, but may be subject to court action for breach

• None of the above

Multiple listing arrangements are

• agreements among brokers in which they agree to share listings and split commissions on cooperated sales

• Gaining multiple listings and co-working with other agents

An owner who gives more than one broker an employment contract at one time has given each of them

• None of the above

• exclusive broker listing

• Net Listing

• Open Listing

When Sara Cellar hires Broker Bloke to sell her home, their listing contract gives Bloke an exclusive right-to-sell. Two weeks later, Sara sells the home to her friend, George. Which of the following is true?

• Bloke receives 2% of commission

• Although Sara sold the home, Bloke will receive a commission

• Sara does not pay commission

What is a real estate listing?

• listing the homes that are vacant

• Getting with the owner and agreeing to sell their home

• Selling homes listed on the market

• The employment of a broker by an owner to sell or to lease