unit 8 Flashcards
antitrust laws
the sherman antitrust act is a federal law that prohibits monoplies, arrangements that constrain trade
Allocation of markers
an illegal division of territories to avoid competition
Antitrust laws
Laws that prohibit price fixing and tie in agreements
Multiple listing service (MLS)
Membership in this service provided an opportunity tobthe marketing of property
Commission
A form of compensation computed as a percentage of the total sales price of a property
Sales associate
A person who is licensed only to perform real estate activities on behalf of a broker
Brokerage
The buisness of brining parties together
Indapendent contractor
A sales associate who works under the terms of A written contract and recieved a substantial portion of her income from sales production rather than hours worked
Administrative regulation
The device by which a state licensing authority administers and enforces the statutory law
Emploee
A sales associate whose activities are closely controlled and who is entitled to benefits unemployment compensation and income tax withholding
Ready willing and able buyer
A person who prepares to buy on the sellers terms and is ready to take positive steps towards consummation of the transaction
Real estate broker
An individual who is licenced to buy sell exchange or lease property for other and to charge a fee for those services
Procuring cause
The broker who starts an uninterrupted chain of events that result in the sale of a property
Comparative market analysis (cma)
An analysis performed to assist a skeleton pricing a property
Real estate licence laws
Statutes enacted by state legislatures to produce the public and ensure a standard of competence in the real estate industry
Group boycott
When two or more buisness conspire against another business to withhold patronge to reduce competition
Brokerages
Many choices small firm indapendent and locally owned and corporate owned
Commission
Many choices 100 commission. Plans brokers pay monthly fee and commission spilt
Brokerages can have what kind of fees
Franchise fees brokerage fees and fund fees
Why fee
So you can use the brand name
How do you use choose what company to go with
Interview companies if the brokerage will meet your needs as a new broker determine tge annual cost to be with brokerage office atmosphere how available supervising broker training offer what they expect of you what market resources and administrative can you work part time
Does a real estate assistant need a license
No
What does a real estate assistant do
They going show property or host an open house they can provide a flyer and agent contact information
Can a real estate assistant dicuss topics or the property
No you need a license
