Real Estate Mass Exam (Joe)
A licensed real estate broker finds a ready, willing and able buyer for the Seller of a
property. After the Seller initially signs and accepts the Buyer's written offer, he later
changes his mind and withdraws the acceptance of the offer. In this scenario, the
broker: - answerIs still entitled to collect commission
After the initial listing agreement between a seller and broker has expired, the seller lists
the property with a different broker. If the original listing broker then finds a ready, willing
and able buyer, the broker is: - answerUnable to disclose any offers the seller received
while he was the listing broker
A potential buyer approaches a local real estate agent and expresses interest in
purchasing a property in the vicinity. Before the agent and buyer enter into an agency
relationship, the agent is able to provide all of the services to the buyer except: -
answerTell the buyer how much they should offer on a property
In order for a buyer-brokerage contract to be enforceable in the state of Massachusetts,
the agreement must: - answerBe in writing
The only time a broker can receive a commission from both the buyer and seller in a
dual agency situation is if: - answerBoth the buyer and seller agree to pay the dual
compensation
A buyer drives by a property listed by Virtual Realty and is interested in going to see it
but she does not want to enter into an agency relationship. An agent from Realty Works,
a different real estate office, can show the buyer the property only if: - answerVirtual
Realty can obtain the seller's written consent to subagency and then the buyer is given
an Agency Disclosure form stating that Realty Works represents the seller.
For a licensed broker to list a home for sale in Massachusetts, it is not required that they
provide a Property Condition Statement. Therefore, - answerif the seller does choose to
provide a Property Condition Statement, they must disclose any and all facts and
defects they know about the property.
The seller provides a Property Condition Disclosure when listing their home with a local
real estate office. Although the seller is unaware of it, the plumbing system in the home
is outdated, damaged, and in need of replacement. In regards to the property condition
disclosure, what should the seller's response be as to whether they have any
knowledge of plumbing system problems? - answerNo
, The agent listing a property for a seller asks the seller to complete a Property Condition
Disclosure. Which statement is true regarding the seller completing the disclosure? -
answerProviding a Property Condition Disclosure in MA is optional
You are listing the home of an elderly man for sale after his death inside of the home
which was caused by the AIDS virus. Prior to that man purchasing the home, it was
the site of a highly publicized murder-suicide. As the list agent, what are your disclosure
responsibilities to prospective buyers related to these two events? - answerYou cannot
disclose the death of the previous owner by AIDS. However, if you are asked directly,
you must disclose the murder-suicide that occurred there.
When a seller met with her broker to discuss listing her home, she informed the broker
that her roof tends to leak during heavy rainstorms. The broker told the seller that he
would omit that fact when meeting with prospective buyers because it is an undesirable
characteristic. Within two months of moving into the home, the new owner found that
the roof leaked during every rainstorm. Since the buyer never asked specifically about
the condition of the roof, he now can: - answerSue the broker under the Consumer
Protection Statute, MGL 93A.
Under the Massachusetts Stigmatized Property Law, there is no requirement for a listing
agent to affirmatively disclose: - answerThat the home is widely believed to be haunted
by a ghost
The listing agent for a property knows that the home has a structurally unsound
foundation that will require extensive repairs. He also knows that the seller's son
committed suicide in the home. The broker must disclose: - answerThe 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: - answerAcceptable,
because a subagency may be created through an agreement between 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 the
property. If the buyer decides to purchase the home, which statement is true? - answerIf
the buyer and seller are informed agree to let the same broker represent them, the
broker can represent both clients.
In regards to the Massachusetts Home Inspection Law, a real estate salesperson must:
- answerProvide a copy of the Home Inspector "Facts for the Consumer" brochure
Which Massachusetts General Law protects buyers and sellers from "fraudulent
misrepresentation and unscrupulous behavior" of real estate agents and brokers? -
answerTitle V
A licensed real estate broker finds a ready, willing and able buyer for the Seller of a
property. After the Seller initially signs and accepts the Buyer's written offer, he later
changes his mind and withdraws the acceptance of the offer. In this scenario, the
broker: - answerIs still entitled to collect commission
After the initial listing agreement between a seller and broker has expired, the seller lists
the property with a different broker. If the original listing broker then finds a ready, willing
and able buyer, the broker is: - answerUnable to disclose any offers the seller received
while he was the listing broker
A potential buyer approaches a local real estate agent and expresses interest in
purchasing a property in the vicinity. Before the agent and buyer enter into an agency
relationship, the agent is able to provide all of the services to the buyer except: -
answerTell the buyer how much they should offer on a property
In order for a buyer-brokerage contract to be enforceable in the state of Massachusetts,
the agreement must: - answerBe in writing
The only time a broker can receive a commission from both the buyer and seller in a
dual agency situation is if: - answerBoth the buyer and seller agree to pay the dual
compensation
A buyer drives by a property listed by Virtual Realty and is interested in going to see it
but she does not want to enter into an agency relationship. An agent from Realty Works,
a different real estate office, can show the buyer the property only if: - answerVirtual
Realty can obtain the seller's written consent to subagency and then the buyer is given
an Agency Disclosure form stating that Realty Works represents the seller.
For a licensed broker to list a home for sale in Massachusetts, it is not required that they
provide a Property Condition Statement. Therefore, - answerif the seller does choose to
provide a Property Condition Statement, they must disclose any and all facts and
defects they know about the property.
The seller provides a Property Condition Disclosure when listing their home with a local
real estate office. Although the seller is unaware of it, the plumbing system in the home
is outdated, damaged, and in need of replacement. In regards to the property condition
disclosure, what should the seller's response be as to whether they have any
knowledge of plumbing system problems? - answerNo
, The agent listing a property for a seller asks the seller to complete a Property Condition
Disclosure. Which statement is true regarding the seller completing the disclosure? -
answerProviding a Property Condition Disclosure in MA is optional
You are listing the home of an elderly man for sale after his death inside of the home
which was caused by the AIDS virus. Prior to that man purchasing the home, it was
the site of a highly publicized murder-suicide. As the list agent, what are your disclosure
responsibilities to prospective buyers related to these two events? - answerYou cannot
disclose the death of the previous owner by AIDS. However, if you are asked directly,
you must disclose the murder-suicide that occurred there.
When a seller met with her broker to discuss listing her home, she informed the broker
that her roof tends to leak during heavy rainstorms. The broker told the seller that he
would omit that fact when meeting with prospective buyers because it is an undesirable
characteristic. Within two months of moving into the home, the new owner found that
the roof leaked during every rainstorm. Since the buyer never asked specifically about
the condition of the roof, he now can: - answerSue the broker under the Consumer
Protection Statute, MGL 93A.
Under the Massachusetts Stigmatized Property Law, there is no requirement for a listing
agent to affirmatively disclose: - answerThat the home is widely believed to be haunted
by a ghost
The listing agent for a property knows that the home has a structurally unsound
foundation that will require extensive repairs. He also knows that the seller's son
committed suicide in the home. The broker must disclose: - answerThe 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: - answerAcceptable,
because a subagency may be created through an agreement between 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 the
property. If the buyer decides to purchase the home, which statement is true? - answerIf
the buyer and seller are informed agree to let the same broker represent them, the
broker can represent both clients.
In regards to the Massachusetts Home Inspection Law, a real estate salesperson must:
- answerProvide a copy of the Home Inspector "Facts for the Consumer" brochure
Which Massachusetts General Law protects buyers and sellers from "fraudulent
misrepresentation and unscrupulous behavior" of real estate agents and brokers? -
answerTitle V
