#12. Antitrust laws prohibit all of the following except: #3. By concluding an exclusive agency registration contract with a seller, a real estate brokerage company: A. Death of the seller B. Bankruptcy of the listing agent C. Death of the listing agent D. Any response given could terminate a registration contract If the broker loses his real estate license during the contract period, the agency will be terminated. The expiration of the individual agent`s license does not terminate the registration because the licensee is not a party to the agreement. The registration agreement exists between the customer and the company. #15. Which of the following statements is/is true regarding the death of a seller? 1.
If a seller dies after signing an advertisement contract, the registration contract is terminated. 2. If a seller signs a purchase contract and dies before the conclusion of the property, the purchase contract is terminated. Just try to find your home online. If it takes you more than 10 to 15 seconds to find the ad, chances are you have a termination case. Real estate, like almost every industry over the past 20 years, is rooted in human interaction, but driven by technological tools. If the list is not readily available digitally, it speaks of poor agent performance. And since these treaties are bilateral treaties, poor performance is a legitimate reason for termination.
Bad photos, which represent a subset of agents` overall marketing, are another justified reason for termination, as photos undoubtedly spark initial interest in a home. #3. Which of the following clauses should be included by the NC Real Estate Commission in each registration contract? An exclusive agency contract is different from an exclusive sales rights contract because the company is not paid under an exclusive agency contract if the seller finds a buyer himself. C. Death of the listing broker working in a large residential business with many agents The death or incompetence (including insanity) of one of the parties will terminate the agency. Note: Since a licensee representing a broker is not a party to the registration agreement if they die or lose their capacity, they will NOT terminate the agency. Employment contracts are not a right or interest in real estate subject to the Fraud Act, but must be made in writing due to commission rules. The registration contract must be in writing at the time of registration and the buyer`s brokerage contract must be in writing prior to the submission of the buyer`s offer. The death, madness and bankruptcy of a broker or seller can terminate a registration contract almost automatically. The death of the party to a contract terminates an employment contract such as a registration or buyer brokerage contract. Once there is a valid and enforceable purchase agreement, the death of the parties does not terminate that agreement. Most listing contracts are exclusive agency rights or exclusive sales rights, but there are usually six types of listing contracts, including open listings, crisp listings, multiple listings, and more.
Everyone has their own policies and steps. For much of this guide, we`ll look at exclusive agency contracts or exclusive sales rights agreements. #10. Which of the following statements applies to the Residential Property and Owners Association`s disclosure statement? D. The seller can sell it himself in the exclusive agency contract, but cannot sell it himself in the open list without determining for the commission B. Ricardo = obligation if fences are allowed, even if the sheet of the 411 ad does not say anything about the fences. Indicate in writing why you wish to terminate this registration contract However, in the case of registration contracts of exclusive agencies, the commission may be withheld if the seller himself finds a buyer. If agents don`t communicate with you about the condition of your home, it also indicates poor performance. Selling homes is often one of the most important economic generators for a family.
Although an agent may have 20 offers, the challenge for him is that these 20 offers consider their respective sales as crucial and relevant to their finances. It can be difficult for agents to quickly return calls, texts, and emails, but as a listing agent, they have agreed to do so – as an attorney for you in the sales process. If they don`t, you often have a reason to stop. #9. Which of the following statements applies to the North Carolina Residential Property Disclosure Act? If a broker does not take steps to market a listing, it can be assumed that he has abandoned it. .