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