MA Real Estate License - State Exam
Questions with Complete Answers
A potential buyer approaches a RE agent expressing interest in property. Before the
agent enters into an agency relationship, he/she is able to provide all of the following
services except... - ANSWER-tell the guyer how much they should offer on a
property.
In order for a buyer-brokerage contract to be enforceable in the state of MA, the
agreement must... - ANSWER-be in writing.
The only time a broker can receive a commission from both the buyer and seller in a
dual agency situation is if... - ANSWER-both the buyer and seller agree to pay the
dual compensation.
Define "Dual Agency"... - ANSWER-Representing both parties in a transaction. This
is illegal unless both parties agree to it.
A buyer drives by a property listed by ABC Realty and is interested but not in an
agency relationship. An agent from XYZ Realty can show the buyer the property only
if... - ANSWER-ABC Realty can obtain the seller's written consent to subagency, and
the buyer is given an Agency Disclosure form stating ABC Realty represents the
seller.
For a licensed broker to list a home for sale in MA, is it required they provide a
Property Condition Statement? - ANSWER-No
In MA, if a seller decides to provide a Property Condition Statement, they... -
ANSWER-must disclose any and all facts and defects they know about.
A seller provides a Property Condition Disclosure. If unaware, what should the
seller's response be as to whether they have any knowledge of pluming system
problems? - ANSWER-"no"...
You are listing the home of a dead man killed by AIDs. Prior to that man purchasing
the home there was a murder-suicide. As the agent what are your disclosure
responsibilities? - ANSWER-Cannot disclose the AIDS, if asked directly must
disclose the murder-sucide.
A seller discloses the roof leaks during heavy storms. The broker tells the seller he
will omit that fact w/ prospective buyers. Within two months of the sale, the new
owner learns about the leak... Since the buyer never asked specifically about the
condition of the roof, he now can... - ANSWER-sue the broker under the Consumer
Protection Statute, MGL 93A
, Consumer Protection Act/Statue: MGL 93A - ANSWER-deals with unfair/deceptive
acts, and empowers a consumer to voice their concern they were treated unfairly.
[b2b & b2c] + [could be liable for Treble Damages (3x) + Court Costs + Legal Fees]
Under the MA Stigmatized Property Law, there is no requirement for a listing agent
to affirmatively disclose... - ANSWER-that the home is widely believed to be haunted
by a ghost.
Stigmatized Property - ANSWER-A property that has acquired an undesirable
reputation due to an event that occurred on or near it, such as a violent crime, gang-
related activity, illness or a personal tragedy.
The listing agent knows the property has an unsound foundation that will require
extensive repairs. He also knows the seller's son committed suicide in the home. The
broker must disclose... - ANSWER-The damaged foundation, but not the suicide
unless directly asked.
A broker wishes to entice more business for his brokerage so he decides to make a
blanket offer of subagency on the MLS listing. This action is... - ANSWER-
Acceptable, because a subagency may be created via an agreement btw. the parties
involved or by placing a blanket offer in the MLS listing.
The listing broker for a property has a client he believes would be interested in
buying the property. If the buyer decides on the home, what is true? - ANSWER-if
the buyer and seller are informed and agree to let the same broker represent them,
the broker may.
In regards to MA Home Inspection Law, a RE salesperson must... - ANSWER-
provide a copy of the Home Inspector "Facts for the Consumer" brochure.
Which MA General Law protect buyers and sellers from "fraudulent
misrepresentations and unscrupulous behavior" of RE agents and brokers? -
ANSWER-Chapter 93A
What entity oversees the real estate license law in MA? - ANSWER-Board of
Registration of Real Estate Brokers and Salespersons
The Board of Registration of Real Estate Brokers/salespersons does not - ANSWER-
make the rules by which license holders must abide, the administer them and the
exams.
Which of the following individuals involved in a real estate transaction would need to
be a license broker or salesperson in the state of MA? - ANSWER-the designated
officer for ABC Realty.
Under MA licensing law, a partnership, corporation or association will only be
granted a license if... - ANSWER-the designated officer or one of the partner holds a
current broker's license.
Questions with Complete Answers
A potential buyer approaches a RE agent expressing interest in property. Before the
agent enters into an agency relationship, he/she is able to provide all of the following
services except... - ANSWER-tell the guyer how much they should offer on a
property.
In order for a buyer-brokerage contract to be enforceable in the state of MA, the
agreement must... - ANSWER-be in writing.
The only time a broker can receive a commission from both the buyer and seller in a
dual agency situation is if... - ANSWER-both the buyer and seller agree to pay the
dual compensation.
Define "Dual Agency"... - ANSWER-Representing both parties in a transaction. This
is illegal unless both parties agree to it.
A buyer drives by a property listed by ABC Realty and is interested but not in an
agency relationship. An agent from XYZ Realty can show the buyer the property only
if... - ANSWER-ABC Realty can obtain the seller's written consent to subagency, and
the buyer is given an Agency Disclosure form stating ABC Realty represents the
seller.
For a licensed broker to list a home for sale in MA, is it required they provide a
Property Condition Statement? - ANSWER-No
In MA, if a seller decides to provide a Property Condition Statement, they... -
ANSWER-must disclose any and all facts and defects they know about.
A seller provides a Property Condition Disclosure. If unaware, what should the
seller's response be as to whether they have any knowledge of pluming system
problems? - ANSWER-"no"...
You are listing the home of a dead man killed by AIDs. Prior to that man purchasing
the home there was a murder-suicide. As the agent what are your disclosure
responsibilities? - ANSWER-Cannot disclose the AIDS, if asked directly must
disclose the murder-sucide.
A seller discloses the roof leaks during heavy storms. The broker tells the seller he
will omit that fact w/ prospective buyers. Within two months of the sale, the new
owner learns about the leak... Since the buyer never asked specifically about the
condition of the roof, he now can... - ANSWER-sue the broker under the Consumer
Protection Statute, MGL 93A
, Consumer Protection Act/Statue: MGL 93A - ANSWER-deals with unfair/deceptive
acts, and empowers a consumer to voice their concern they were treated unfairly.
[b2b & b2c] + [could be liable for Treble Damages (3x) + Court Costs + Legal Fees]
Under the MA Stigmatized Property Law, there is no requirement for a listing agent
to affirmatively disclose... - ANSWER-that the home is widely believed to be haunted
by a ghost.
Stigmatized Property - ANSWER-A property that has acquired an undesirable
reputation due to an event that occurred on or near it, such as a violent crime, gang-
related activity, illness or a personal tragedy.
The listing agent knows the property has an unsound foundation that will require
extensive repairs. He also knows the seller's son committed suicide in the home. The
broker must disclose... - ANSWER-The damaged foundation, but not the suicide
unless directly asked.
A broker wishes to entice more business for his brokerage so he decides to make a
blanket offer of subagency on the MLS listing. This action is... - ANSWER-
Acceptable, because a subagency may be created via an agreement btw. the parties
involved or by placing a blanket offer in the MLS listing.
The listing broker for a property has a client he believes would be interested in
buying the property. If the buyer decides on the home, what is true? - ANSWER-if
the buyer and seller are informed and agree to let the same broker represent them,
the broker may.
In regards to MA Home Inspection Law, a RE salesperson must... - ANSWER-
provide a copy of the Home Inspector "Facts for the Consumer" brochure.
Which MA General Law protect buyers and sellers from "fraudulent
misrepresentations and unscrupulous behavior" of RE agents and brokers? -
ANSWER-Chapter 93A
What entity oversees the real estate license law in MA? - ANSWER-Board of
Registration of Real Estate Brokers and Salespersons
The Board of Registration of Real Estate Brokers/salespersons does not - ANSWER-
make the rules by which license holders must abide, the administer them and the
exams.
Which of the following individuals involved in a real estate transaction would need to
be a license broker or salesperson in the state of MA? - ANSWER-the designated
officer for ABC Realty.
Under MA licensing law, a partnership, corporation or association will only be
granted a license if... - ANSWER-the designated officer or one of the partner holds a
current broker's license.
