Hello there
I have completed studying your 72 hour Broker FREC Course and I can't find a section to study about closing statements. Please help
MLS Campus Inc Forum
6 discussions
1 reply
is a seller obligated to sell if a buyer offers full price or can they turn it down if they decide to not sell?
1 reply
where can I buy the real estate 63hours sales associate books?
1 reply
Your test Q "Broker Jane is planning on calling FSBOs on weekends to generate new listings. Which "no solicitation list" will prohibit him (it should be HER) from calling. I said both. You said correct answer is National only. How can this be true since there is no existing relationship?
1 reply
On the practice exam it is stated "Al, Barbara and Charlie buy property as joint tenants in 2007. In 2008 Charlie sells his one-third to Donna. In 2009, Al dies. Which parties now own the property and in what shares . I answered "Barbara one third, Donna one-third, Al's heirs one third. It was wrong. The correct answer is Barbara two-thirds and Donna one-third. I thought one of the characteristics of jt. tenants is shares get transferred to heirs. Please respond to this and other questions.
1 reply
b. The licensed name and phone number of the brokerage firm as it is registered with the FREC.
c. The licensed name, followed by the words “licensed real estate broker” or “lic. real estate broker” and phone number of the brokerage firm as it is registered with the FREC
d. The licensed name, address and phone number of the brokerage firm as it is registered with the FREC
Any advertising must be worded so that a reasonable person knows that the advertiser is a real estate licensee
All advertising must include the licensed name and phone number of the brokerage firm as it is registered with the FREC. (Abbreviations are not allowed.) It must be displayed in such a manner that a reasonable person would know that he or she is dealing with a real estate licensee. No real estate advertisement placed or caused to be placed by a licensee shall be fraudulent, false, deceptive, or misleading.
A licensee is not required to place his or her personal name in an ad. When the licensee’s personal name appears in the advertisement, the licensee’s last name must be the same as registered with the FREC. The licensee may use a nickname or initials for the first name and is not required to display the first and/or middle name as registered with the FREC. There is no requirement for a licensee to display his or her license number or the registration number of the brokerage firm. In addition, there is no requirement that the licensee display the license status.
The correct answer is: The licensed name and phone number of the brokerage firm as it is registered with the FREC.
“Blind” advertising is prohibited; it must always reveal:
a. The licensed name and address of the brokerage firm.
b. The licensed name of the brokerage firm.
c. The licensed name, address and phone number of the brokerage firm.
d. The licensed name and phone number of the brokerage firm.
"Blind" advertising is prohibited; it must always reveal the licensed name of the brokerage firm
However, Article 12 of the National Association of REALTORS ® Code of Ethics requires licensees to include their professional status (e.g., broker, appraiser, property manager, etc.) or status as Realtors®. The FREC does not regulate the use of telephone numbers in ads. Therefore, a licensee may use either office or personal telephone numbers without qualifying the number as such. “Blind” advertising is prohibited; it must always reveal the licensed name of the brokerage firm.
The correct answer is: The licensed name of the brokerage firm.
d&quoa1 reply