Washington Real Estate Actual Exam Questions
And Answers Practice Questions with Solutions
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Terms in this set (323)
MLS Multiple listing service- Cooperative agreements
between brokers to share information usually are
established at the NAR local level.
Chapter 1
Stages of the real estate transaction 1. The listing
2. The contract for sale
3. Financing
4. Settlement
Chapter 1
Listing contract A contract wherein a property owner employs a
real estate firm to market a property for a
prescribed period of time at a prescribed price
and terms. The real estate firm becomes the agent
of the seller. This contract does not authorize the
licensee to bind the seller in a contract to sell the
property.
Chapter 1
,Real estate license law Where the state requires that the people in the real
estate business be licensed by the state. There to
protect the public.
Chapter 1
NAR National association of realtors (established in
1908)
Chapter 1
ARELLO Association of real estate license law officials.
Made up of licensed law officials representing ever
state. Organized in (1930)
Chapter 1
License exams 2 parts-
1. questions about the license law statues, rules and
regulations. (State law)
2. Questions covering all other real estate subjects
(national law)
Chapter 1
, Broker's Activities A real estate broker is any person, partnership,
association, or corporation who for a payment or
other valuable consideration...
*lists or offers to list
*sells or offers to sell
*buys or offers to buy
*auctions or offers to auction
*negotiates the purchase, sale or exchange and/or
leases or rents or offers to rent any real estate for
others.
Chapter 1
Who are brokers? All licensees
Chapter 1
Broker responsibilities (with less than Being subject to heightened degree of supervision
2 yrs. experience) for the initial 2 yrs of licensing.
Chapter 1
Physical factors of land can be _____ & Natural & artificial
________. Chapter 4
Natural physical features..... Location, topography, soil conditions, size and
shape, likelihood of flooding, weather variables,
presence or absence of minerals.
Chapter 4
And Answers Practice Questions with Solutions
Newest | Already Graded A+
Save
Terms in this set (323)
MLS Multiple listing service- Cooperative agreements
between brokers to share information usually are
established at the NAR local level.
Chapter 1
Stages of the real estate transaction 1. The listing
2. The contract for sale
3. Financing
4. Settlement
Chapter 1
Listing contract A contract wherein a property owner employs a
real estate firm to market a property for a
prescribed period of time at a prescribed price
and terms. The real estate firm becomes the agent
of the seller. This contract does not authorize the
licensee to bind the seller in a contract to sell the
property.
Chapter 1
,Real estate license law Where the state requires that the people in the real
estate business be licensed by the state. There to
protect the public.
Chapter 1
NAR National association of realtors (established in
1908)
Chapter 1
ARELLO Association of real estate license law officials.
Made up of licensed law officials representing ever
state. Organized in (1930)
Chapter 1
License exams 2 parts-
1. questions about the license law statues, rules and
regulations. (State law)
2. Questions covering all other real estate subjects
(national law)
Chapter 1
, Broker's Activities A real estate broker is any person, partnership,
association, or corporation who for a payment or
other valuable consideration...
*lists or offers to list
*sells or offers to sell
*buys or offers to buy
*auctions or offers to auction
*negotiates the purchase, sale or exchange and/or
leases or rents or offers to rent any real estate for
others.
Chapter 1
Who are brokers? All licensees
Chapter 1
Broker responsibilities (with less than Being subject to heightened degree of supervision
2 yrs. experience) for the initial 2 yrs of licensing.
Chapter 1
Physical factors of land can be _____ & Natural & artificial
________. Chapter 4
Natural physical features..... Location, topography, soil conditions, size and
shape, likelihood of flooding, weather variables,
presence or absence of minerals.
Chapter 4
