Questions Flashcards
How many members of the advisory commission are licensed brokers?
Six members of the advisory commission are licensed real estate brokers. In addition to the licensed brokers, there are a number of unlicensed consumers on the commission.
How many people make up the advisory commission?
There are actually 10 members on the advisory commission. The 10 members are a mix of licensed real estate brokers and unlicensed consumers.
How many unlicensed consumers serve on the commission?
Four. The commission seeks to provide fairness to both the public and the industry. Having both consumers and industry professionals on the commission helps work toward this.
Which two statements are true about real estate law in California?
- The purpose of the Regulations of the Real Estate Commissioner is to protect real estate licensees.
- The purpose of the real estate law is to protect public safety.
- Licensees must follow both the real estate law in the Business and Professions Code and the Regulations of the Real Estate Commission.
- Anyone involved in a real estate transaction in California is required to follow real estate license law.
Answer: 2 & 3
What is the difference between Real Estate Law and Regulations of the Real Estate Commissioner?
Regulations are used to enforce and clarify the law. Real estate licensees must abide by both.
How many members on the Real Estate Advisory Commission are unlicensed consumers?
Four.
How is an individual selected to act as Real Estate Commissioner?
The individual is appointed by the governor
How many members on the Real Estate Advisory Commission are real estate brokers licensed in California?
Six.
Travis does not have a real estate license but is helping a friend sell their home. Since he will not be compensated in any way, can he research schools, crime rates, and other statistics about several neighborhoods?
Yes, Travis can. This action does not require a license.
Travis does not have a real estate license but is helping a friend sell their home. Since he will not be compensated in any way, can he list his friend’s condo for sale?
Yes.
Travis does not have a real estate license but is helping a friend sell their home. Since he will not be compensated in any way, can he research the Internet and drive the streets to locate properties for sale?
Yes.
Travis does not have a real estate license but is helping a friend sell their home. Since he will not be compensated in any way, can he schedule showings for properties?
Yes.
Travis does not have a real estate license but is helping a friend sell their home. Since he will not be compensated in any way, can he negotiate the exchange of real estate?
Yes.
Travis does not have a real estate license but is helping a friend sell their home. His friend offered to pay him $1,000 for his time and effort. Can Travis research schools, crime rates, and other statistics about several neighborhoods?
Yes, Travis can. This action does not require a license.
Travis does not have a real estate license but is helping a friend sell their home. His friend offered to pay him $1,000 for his time and effort. Can Travis list his friend’s condo for sale?
No, Travis cannot. This action requires a license.
