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All of the following Must Appear in a Written Listing Agreement except

By Zach Arnold | January 25, 2022

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The death of the party to a contract terminates an employment contract such as a registration or buyer brokerage contract. Once there is a valid and enforceable purchase agreement, the death of the parties does not terminate that agreement. #6. The fact that the NC registration contract and the purchasing agency contract must be in writing is required by: #12. Antitrust laws prohibit all of the following except: When handling money, the rules all refer to “banking” and not to business days. Real money must be deposited no later than 3 banking business days. Once a cheque has been presented, ncrec allows CIBs and businesses to start counting 3 days after the contract is accepted. C. The exclusive agency contract states that the company is the only one that can sell the property and is entitled to a commission no matter who sells it, not even the seller There is no obligation for a seller to disclose the defect, although the seller has a mandatory obligation to complete the disclosure declaration. Regardless of how the vendor completes the form, the licensee is required to disclose all material facts, so the responsibility rests with the listing agent.

The buyer`s representative has the same obligation to disclose, but in this question, because the defect was hidden, it does not appear to be an item for which the selling broker (buyer`s agent) was responsible. #1. A valid registration contract may be terminated for the following reasons, EXCEPT: D. the seller can sell it himself in the exclusive agency contract, but cannot sell it himself in the open ad without being responsible for the D commission. Buyers must receive the completed disclosure report no later than the beginning of the due diligence period. #7. A licensee has just discovered a roof leak in one of its current listings, even though the seller has indicated “no representation” in the declaration of disclosure of the residential property. The listing agent does not inform the seller of the defect and since the defect is hidden, the seller does not discover or disclose the problem to the buyer. Who is held responsible for this secrecy, according to the North Carolina Real Estate Commission? A net quote states that the brokerage commission is an excess amount greater than a predetermined net amount to be received from the seller.

Net listings are legal, but they are discouraged by the real estate commission because of their potential to benefit a client. #3. Which of the following clauses should be included by the NC Real Estate Commission in each registration contract? # 13. Serious cash deposits, if paid in the form of a personal check issued on an offer to purchase and contract, must be deposited into an escrow account: #7. All of the following points automatically terminate a housing contract, EXCEPT: #9. The main difference between an open ad and an exclusive agency contract would be: #5. An owner registers a property for sale with a broker. The owner told the broker during the listing negotiations that he wanted $138,000 for the property, and anything above that amount could be kept by the broker as a commission. The list with this type of deployment is called #6. The type of listing contract for which the seller owes a commission to the listing agency, regardless of who sells the property, is a: C. Ricardo & Listing Agent = sub-agent seller, they have no obligation to determine if fences are allowed.

#2. Exclusive right of representation Buyer`s contracts must have all of the following characteristics: A. This form must be provided to the buyer by a seller who sells his own property without the help of a real estate agent B. Ricardo = obligation to determine if fences are allowed, even if sheet 411 says nothing about fences. #9. Which of the following statements applies to the North Carolina Residential Property Disclosure Act? A. Listing Agent = Obligation to disclose the 411 registration sheet indicating that closures were not permitted. C. inform the buyer that the seller is inappropriate and declare that the broker must release the money to seller D. a broker who asks all agents in his company to join the local registration service #15. Which of the following statements is/is true regarding the death of a seller? 1.

If a seller dies after signing an advertisement contract, the registration contract is terminated. 2. If a seller signs a purchase contract and dies before the conclusion of the property, the purchase contract is terminated. Registration contracts and buyer broker contracts may not provide for automatic renewal of the agreement. However, the Client and the Company may agree to extend the registration period by mutual agreement and by means of a duly signed addendum. #14. If a seller and a listing company have a commission dispute before closing, the listing company: B. Expiration of the license of the individual listing agent Employment contracts are not a right or interest in real estate that is subject to the Fraud Act, but must be made in writing due to commission rules. The registration contract must be in writing at the time of registration and the buyer`s brokerage contract must be in writing prior to the submission of the buyer`s offer. #3. By entering into an exclusive agency registration contract with a seller, a real estate brokerage company: B., the seller can register with as many brokers as he wants, in the open list No.

2. According to the rules of the North Carolina Real Estate Commission, all of the following must be part of a listing agreement, EXCEPT: #12. What applies to a valid NC enrolment contract? #8. Which of the following would likely NOT constitute a violation of the Sherman Antitrust Act? An exclusive agency contract is different from an exclusive sales rights contract because the company is not paid under an exclusive agency contract if the seller finds a buyer himself. C. Death of the listing broker working in a large residential business with many agents #10. Which of the following statements applies to the Residential Property and Owners Association`s disclosure statement? The expiration of the individual agent`s license does not terminate the registration because the licensee is not a party to the agreement. The registration agreement exists between the customer and the company. B. Agreement with competitors to set commission rates #1. The clause in a registration contract that protects the broker`s commission claim beyond the duration of the listing in the event of the owner`s sale of the property to an interested party to whom the property has been shown by the listing company or its agents is called #8.

Ricardo shows the buyer a house as a sub-agent of the seller. Before he is shown a house, buyer Ricardo says it`s important that he has a fence built around the backyard of every house he buys. Ricardo finds the perfect home for the buyer, but it doesn`t have a fenced backyard, and the listing fact sheet doesn`t say whether fences are allowed or not. Ricardo does not tell the listing agent anything about a fence. The buyer buys the house and later learns that he cannot erect a fence. Which of the following statements is true?. #5. Sam Seller lists his property on EX Realty.

Eventually, Sam convinces a colleague, Wanda Wish, to buy his house. In what situation should Sam not owe a commission to EX Realty? D. has agreed to renegotiate the commission with the seller if another agency offers a lower commission rate A. no later than three banking days after the acceptance of contract #11. The commission rate that is legally calculated on a real estate transaction is set by: #11. A seller and a buyer are involved in a dispute over a confiscated deposit. The seller has no reasonable basis for refusing to allow the broker to return the money to the buyer who cancelled within his due diligence period. According to the North Carolina Real Estate Commission, what should the broker do with serious money? B.

try to obtain the mutual consent of all parties on the disposition of the money, and if this is not possible, the funds cannot be released and can be paid with appropriate notice to the clerk of the court. D. taking into account the “description of the duties and relationships of the agent” prescribed by the Commission A. cannot release the significant sums held until the dispute of the commission has been settled. A. is not entitled to a commission if another agency finds a buyer for property C. It requires the seller to sell when a full-price offer is made by Buyer B. to three different brokerage firms that allocate markets based on the value of the homes. One.

All agents involved in the transaction should facilitate the timely delivery of the property disclosure report to the buyer. .

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