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3 Cards in this Set
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Activities that don't require a real estate license |
1. Individual doing business on the behalf of themselves are not required to be licensed. 2. Private seller or buyer's. I.E FSBO- for sale by ower. ( good Prospect) 3. An auctioneer does not need to possess a real estate license. 4. An Executor guardian or an administrator of a who is acting on behalf of court order. 5. An attorney acting on the behalf of their client. (must hold a power of attorney instrument) an individual who holds a power of attorney to act on behalf of another is known as an attorney in fact. The power of attorney is valid for a specific time frame and becomes invalid when the person who provide the power of attorney dies or time expiration occurs. 6. An individual selling a business that does not include real property such as businesses without the actual property. Trustee of property. 7. An employee of the bank or insurance company selling or Leasing Property on the behalf of the bank or Insurance Company. Reo is real estate owned. |
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Reo |
is a term used in the United States to describe a class of property owned by a lender typically a bank, government agency, or government loan insurer after an unsuccessful sale at a foreclosure auction. |
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Requirements to become a real estate sales person/ agent |
Must be 18 years of age or older. Complete 40-hour class. Pass a state-approved exam Good moral character Needs to submit three recommendations by law abiding citizen. Authority to have applicant for licensure. |
