Course 1, Module 5, All Lessons Flashcards
When listing a property, the seller advises the salesperson that all areas under the carpeting are hardwood. The salesperson shows the property to an interested buyer client who does not like carpet and asks if there is hardwood underneath.
*Choose the correct response.
A) “I’ll have to investigate further to verify if there is indeed hardwood floor under the carpet
B) “There is indeed hardwood floor under the carpet”
C) “According to the seller, there is hardwood floor under the carpet, but I recommend you investigate yourself”
A) - Code requires that salesperson take reasonable steps to determine facts of a property that may affect buyer’s decision.
Which of these business card sections would be appropriate for a business card to follow the correct advertising standards?
*Select all that are appropriate.
A) MdS Realty Inc. Brokerage
B) Maureen and Dean De Sousa, Brokers
C) The de Sousa Team 0 The #1 Condominium Team. We Guarantee a faster Sale and for More Money*. (phone #s, email). Call for details.
D) MdS Realty. Realtor.
E) Maureen de Sousa and Dean de Sousa, Sales Reps.
F) The de Sousa Team - The #1 Condominium Team at MdS Realty Brokerage (Phone #s, email). * Based on number of residential condominium sales at brokerage for 2017.
A, B, F
A salesperson receives an offer on a seller’s property and is discussing the details of the offer with the seller. The offer contains a clause obligating the seller to a specific action which could create risk for the seller. The seller is anxious to accept the buyer’s as submitted, however, the salesperson, not familiar with one of the clauses, expresses his concern and provides an option to the seller that this clause can be removed.
Which of the following actions complies with the Code?
*Select all that apply.
A) Talk to the buyer’s salesperson to understand the intent of the clause.
B) Recommend a lawyer review the offer prior to acceptance.
C) Explain the potential risks of accepting the offer as written to the seller and recommend clarification be sought.
D) Recommend removing the clause and countering the offer back to the buyer.
B, C
Review each of the following remuneration arrangements and determine whether they are allowable under the Act.
*Select all that are allowable.
A) Up to 350k - 3%. 350k-500k - 3.5%. Over 500k - 4%.
B) 4.5% of the sale price + 2k
C) Listing price: 500k. Selling price: 505k. Remuneration: 25k.
D) Up to 150k - 5%. Over 150k - 3.5%.
B, C, D.
