Licensed vs Unlicensed Flashcards
Can an unlicensed assistant answer phones and forward calls
yes
Can an unlicensed assistant make cold calls by telephone or in person to potential listers, purchasers, tenants, or landlords
no
Can an unlicensed assistant process an submit listings and changes to an MLS system
yes
Can an unlicensed assistant follow up on loan applications after contracts have been fully executed
yes
Can an unlicensed assistant set up file procedures, track and secure documents, etc
y
Can an unlicensed assistant have keys made for company listings at the direction of a licensee
y
Can an unlicensed assistant write ads for approval of a licensee; place ads as directed
y
Can an unlicensed assistant keep records of and deposit payments of earnest money, security deposits and rent
y
Can an unlicensed assistant in the absence of licensee, host open houses, booths at home shows, malls or fairs or distribute promotional literature at such locations
n
Can an unlicensed assistant prepare promotional material or ads without the review and approval of a licensee
n
Can an unlicensed assistant show property
n
Can an unlicensed assistant answer any questions on listings, title, financing or closings from either the public or other licensees
n
Can an unlicensed assistant discuss or explain a contract, listing, lease agreement or other real estate document with anyone outside the firm
n
Can an unlicensed assistant work as a licensee/secretary in one firm and do real estate related activities with that firm, while licensed with another firm
n
Can an unlicensed assistant negotiate or agree to any commission, commission split, management fee or referral fee on behalf of a licensee
n
Can an unlicensed assistant make telephone calls for the purpose of collecting or attempting to collect late rent payments
n
Can an unlicensed assistant be present during property inspection by a prospective purchaser in the absence of a licensee
n
Can an unlicensed assistant type contract forms for approval of a licensee
y
Can an unlicensed assistant monitor files and report findings to a licensee
y
Can an unlicensed assistant compute commission checks
y
Can an unlicensed assistant place signs on properties
y
Can an unlicensed assistant order items or inspections as directed by a licensee
y
Can an unlicensed assistant prepare fliers and promotional material for approval by licensee
y
Can an unlicensed assistant act as a courier for delivering documents or picking up keys
y
Can an unlicensed assistant delivery of contracts or closing materials
n
Can an unlicensed assistant schedule appointments with the seller or seller’s agent in order for licensee to show listed property
y
Can an unlicensed assistant complete loan applications
n, can only follow up on loan applications after contracts have been fully executed
Can an unlicensed assistant have keys made for company listings
y but only at direction of a licensee
Can an unlicensed assistant write and post ads/flyers/or promotional materials
y, but only after ads have been approved
Can an unlicensed assistant type and send contract forms
n, can only type contract forms for approval by licensee. cannot deliver contracts or closing materials
Who is exempt from getting a license when engaging in real estate business ONLY as it pertains to the person’s normal activities? (9)
- property owners
- referring someone in another state while licensed in your own state
- executors
- Administrators
- receivers (bankruptcy)
- trustees
- attorneys admitted to the NJ Bar
- Banks
- insurance companies
what are other professions, other than a real estate agent, that could be involved in real estate business and need a license? (3)
- mortgage broker
- insurance broker
- auctioneer
