Post Licensing 303 Study guides, Class notes & Summaries

You will be presented with a series of scenarios. Indicate whether the activities performed are allowed (Deal) or not (No Deal). We will then walk through the scenarios together. An LLC homebuilder building in several subdivisions has W-2 employees in model homes in each subdivision who show available properties, discuss design options, answer consumers' questions, negotiate sales contracts, accept deposits, and otherwise service the transaction from beginning to end. - ANSWERSDeal The be...

Who issues your real estate license? - ANSWERSNCREC You need an ______ real estate license to practice real estate for others for a fee - ANSWERSActive License Qualification Requirements: - ANSWERS1. be at least 18 years old 2. be a US citizen or a non-citizen national or a qualified alien under federal law 3. have a social security number 4. satisfy educational requirements 5. File a complete application and fee 6. Pass the applicable real estate license exam 7. Satisfy the Commissi...

Who needs a broker's license? - ANSWERSA license is required for any person or business entity, who for compensation; Lists, Leases, Buys, Exchanges, Auctions, Negotiates, or Sells real property, for others for compensation. Is an active real estate license required to sell Time Shares in NC? - ANSWERSyes A license is NOT required for: - ANSWERS-a business leasing their OWN real property; i.e., apartments, FSBO -attorneys practicing law -a person acting under a Power of Attorney ...

The purpose of zoning regulations - ANSWERSTo control the use of the land Full service office lease - ANSWERSLandlord pays for business service and maintenance but the rent is higher Absorption rate - ANSWERSHow much space is used or sales in a given period of time Floor plate, core area, usable and rentable area - ANSWERSOffice property Define due dilligence - ANSWERSBuyer or renter is evaluation of property for the intended use- research, inspections, test, etc. What is the free...