| Licensing | Agency |
|---|---|
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What is if a broker's license is suspended
A salesperson's license is effected by which action of the sponsoring broker
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What is an exclusive right to sell.
The broker earns his commission no matter who sells the property.
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What is How often brokers and salespersons renew their licenses.
two years
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What is a net listing
This type of listing in NY is illegal
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What is when the seller refuses to sign a Property Condition Disclosure statement.
A buyer will receive a 500 credit at closing
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What is an express agency
this is an agency relationship is created by an oral or written agreement between principal and agent
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What is team members must be associated with the same brokerage firm.
If a brokerage has a team in place this must be true about its members
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What is dual agency
This is allowed in NY with disclosure and informed consent
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What is the cost to take the NYS Licensing Exam for Salespersons.
Fifteen dollars (15.00)
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What is implied authority.
Seller allows a broker to take a prospect through her property with no signed listing agreement. This is known as what type of authority?
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