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22 Cards in this Set
- Front
- Back
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A person who by means of-personal inducement, solicitation, or otherwise attempts directly to encourage any person to attend a sales presentation for a time-share program.
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Acquisition agent
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Conditions or occurrences generally recognized by competent licensees that have negative impact on the value of the real estate, significantly reduce the structural integrity of improvements to real property or present a significant health risk to occupants of the property.
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Adverse facts
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Any person engaged under contract by or on behalf of a licensed broker to participate in any activity included in subdivision.
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Affiliate broker
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An agency relationship created for the purpose of providing real estate services in which the client's or other party's liability for the actions or statements of an agent, subagent, or facilitator is limited.
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Limited agency
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Any person who, for a fee, commission, finder's fee or any other valuable consideration or with the intent or expectation of receiving a fee, commission, finder's fee or any other valuable consideration from another.
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Broker
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A party to a transaction with whom the broker has entered into a specific written agency agreement to provide services.
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Client
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A party, other than a client in a transaction, for whom or to whom a licensee provides services.
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Customer
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Refers to a licensee who has been chosen by the licensee's managing broker to serve as the agent
of an actual or prospective party to a transaction, to the exclusion of other licensees employed by or affiliated with the broker. |
Designated agent
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Refers to a situation in which the licensee has agreements to provide services as an agent to more than one (1) party in a specific transaction and in which the interests of the parties are adverse.
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Dual agency
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Another word for a Licensee in a transaction.
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Facilitator
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An agency relationship created for the purpose of providing rear estate services in which the client's or other party's liability for the actions or statements of an agent specific instruction of the client or other party or those actions or statements about which the client or other party or those actions or statements about which the client or other party had knowledge.
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Limited agency
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Means any statement, representation or fact relative to a transaction that would affect a reasonable person's decision to enter into an agreement and that has been identified by the person as being of significance to a particular parry.
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Material
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The purchase, sale, rental or option of an interest in real estate or business opportunity.
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Transaction
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Any person acting as a broker, affiliate broker, time-share salesperson or acquisition agent without first obtaining a license commits a ______.
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Class B misdemeanor
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A corporation that is caught acting as a broker, affiliate broker, time-share salesperson or acquisition agent without obtaining a license is ineligible to obtain a license for a period of _______ from the date of conviction of the offense.
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One (l) year
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Within ________ days after any change of location of the office , all licensees registered at that office shall notify the commission in writing of their new business and shall pay the fee ($50).
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(10) days
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Upon death, resignation, termination, incapacity or unexplained absence of a principal broker. A new principal broker must be in place no later than the ____day of any continued operation granted by the commission.
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61st
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No licensee shall advertise to sell, purchase, exchange, rent, or lease properly in a manner indicating that the licensee is ________________.
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not engaged in the real estate business.
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All advertising shall be under the direct supervision of the __________________ and shall list the firm ____________ and ______________.
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Principal broker, name and telephone number.
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No licensee shall advertise property listed by another licensee without written authorization from the ____________.
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Property owner
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Written authorization must be evidenced by a statement on the listing agreement or any other written statement signed by
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The owner
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Any licensee using a franchise trade name or advertising as a member of a cooperative group, when advertising other than specific properties for sale or lease, shall cause the following legend to appear in the advertisement....
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"Each [Franchise Trade Name or Cooperative Group] Office is Independently Owned and Operated."
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