Quick Answer: Why does a real estate professional need a license quizlet?

Why does a real estate professional need a license?

A real estate agent license (also simply called a “real estate license”) is the state-issued license that allows the holder to assist the general public in the leasing, buying and selling of real estate. You can’t legally work as a real estate agent without having an active state-issued real estate agent license.

Does a property manager need a real estate license quizlet?

the property manager is not required to have a real estate license. … the property owner and tenants.

Which type of service specializes in providing advisory services to clients instead of traditional transaction based commission compensated services quizlet?

Brokers have specialized in providing advisory services to clients instead of the traditional transaction-based, commission-compensated services.

What is the most important issue for a broker acting as a property manager to accomplish?

Selling the property. Which is the most important issue for a broker acting as a property manager to accomplish? to get maximum income in while preserving the value of the investment.

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Which activity would require a real estate license?

Among them are: Negotiating for the listing, sale, purchase, exchange, rent, lease or option for. any real estate; Acting as referral agent; or.

What is Realtor salary?

REALTOR median yearly income is around $49,700. REALTORS with 16 years of experience or more averaged nearly $86,500 per year. 27% of REALTORS earned more than $100,000 per year.

What are the two major property classifications in real estate?

Generally speaking, properties are classified as either Class A, Class B, or Class C properties. This is true across all real estate asset classes, regardless of whether you’re referring to office buildings, retail centers, apartment buildings, or industrial and warehouse facilities.

What do we call a real estate broker who manages properties for one owner or several owners?

is usually a real estate broker who manages properties for one owner or a number of owners. usually manages a single large property.

Which of the following aspects of property management requires a real estate license?

Which of the following aspects of property management requires a real estate license? The answer is showing property. If the duties include showing or leasing the property for the owner for which the manager gets paid, a license is required.

How are real estate salespeople paid quizlet?

agents get paid only if they sell the property. No fee is earned if the owner alone sells the property. … No fee is earned if the owner alone sells the property. You just studied 43 terms!

What document establishes path and proof of ownership?

A bill of sale is another document that can serve as proof of ownership; it comes from the previous owner and shows the transfer of ownership. The bill of sale is essentially the receipt for the sale. It usually serves as the primary proof of ownership until the deed can be officially notarized.

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Why do short sales usually occur quizlet?

Typically, sellers who opt for short sales do so in order to avoid a foreclosure because of some financial problem—such as job loss or a balloon payment—that makes them unable to afford their mortgage payment.