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10 Cards in this Set

  • Front
  • Back
Listing where the Broker is compensated only if the procuring cause and seller retains right to sell w/o obligation
Exclusive Agency Listing
Guidlines for nondiscriminatory policies (established by PA Human Relations Comm. & PA Realtors)
1. Standardized inventory of properties
2. Consistent and measurable practices for qualifying purchasers & tenants
3. Written documentation
Law which prohibits discrimination in housing
Title 8 of the Civil Rights Act of 1968
Most probably price that a property should bring in a fair sale
Market Value
County Assessors who pass exam can value property (for ad valoreum) tax purposes. The recieve this certification
Certified Pennsylvania Evaluator (CPE)
Management agreement
A contract between an owner and a firm or manager that outlines the scope of the manager's authority.
Property Manager
Someone compensated for managing real estate. Duties include collecting rents, maintaining the property and keeping up all accounting
Term for the FIDUCIARY relationship between the principal and agent
Allocation of customers or markets
Different brokers divide their markets and refrain from competing with each other.
Three federal tax law requirements which establish Independent Contractor status. "SAFE HARBOR TEST"
1. Must be properly licensed
2. Income based on production, not hours.
3. Work done pursuant to written agreeement clearly stating Independent Contractor status.