intro to real estate
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| A written agreement between buyer and seller in which the buyer agrees to buy certain real estate, and seller agrees to sell, upon terms and conditions of the agreement. | show 🗑
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| show | *sales contract*agreement of sale*offer and acceptace
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| show | attorney-in-fact
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| show | Broker
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| show | Real Estate Brokerage
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| show | Commingling
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| show | separate account
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| Anything of value (act or promise) offered by one party to induce another into a contract.(money, personal services, love and affection) | show 🗑
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| A contract must have consideration to be ________ binding. | show 🗑
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| show | Dual Agent
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| Acting as a dual agent in unethical at best unless _____________________________________. | show 🗑
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| contract between property owner and broker/agent in which the broker is employed to find a buyer for owners real estate for a prescribed time, price and terms for which the broker is paid a commission. | show 🗑
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| person with valid real estate license to engage in the real estate business | show 🗑
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| person who holds a real estate license | show 🗑
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| must be sponsored by a broker | show 🗑
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| A written law enacted by a state legislative body | show 🗑
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| show | 1 the listing 2 the contract for sale 3 financing 4 closing (settlement)
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| show | NAR
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| What does NAR stand for | show 🗑
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| National Association of Realtors was organized in what year? | show 🗑
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| ARELLO | show 🗑
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| *organized in 1930*Made up of license law officials prepresenting every state | show 🗑
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| ARELLO's mission statement | show 🗑
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| arrangement among a group of real estate brokers to share information about some or all of their listings. | show 🗑
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| show | local level
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| A contract where property owner employs a real estate firm to market a property for a prescribed periodof time at specificed price and terms is a _________ contract. | show 🗑
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| What is the purpose of real estate brokerage | show 🗑
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| under a listing contract, the real esate firm becomes ________. | show 🗑
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| As an agent of the seller the real esatate broker and his associates are empowered to ___________. What allows this empowerment? | show 🗑
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| The listing agent works for______________. | show 🗑
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| show | does not
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| represents the best interest of the buyer...rather than the seller | show 🗑
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You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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Created by:
tester
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