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23 Cards in this Set
- Front
- Back
T/F The broker is not required to have the written disclosure (working relationship form) signed in order to be in compliance |
True
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Conway-Bogue refers to the following three items:
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Brokers may perform limited practice of law under the following conditions: The brokerage firm must be conneted to the ransaction thru a brokerage relationship. There must be no fee for preparing docs The docs must be prepared on commonly used printed standard or approved forms |
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Brokers appoint title companies as _______________ to complete legal documents
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scrivener
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Independent brokers (may or may not?) hire/supervise other licenses?
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May Not
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Any broker or firm acting as an agent must have a _____________ in Colorado. Examples:
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written agreement; Exclusive Right to Sell or Exclusive right to buy |
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T/F Receiving a fee from someone establishes AGENCY? |
False, the written agreement, disclosure, or sometimes actions establish agency
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Hook E-35 with ___________________
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Disclosure
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Disclosure ________ be in writing at first physical contact
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Must
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T/F The disclosure form must be signed?
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False, it must be in writing
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Rule E-11 requires
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a definite termination date of a listing
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Brokers have two ways to change their status in a contract to transaction-broker:
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use a change of status form use the boxes at the end of the contract to buy and sell to make the change for that transaction |
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Designated brokers may receive compensation only from __________________ and not the ___________
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brokerage firm; seller or buyer |
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Success fee is
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commission in buyer's contract
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a Holdover period is
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it affects both listings; it's negotiated between the parties;
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T/F The CO real estate commission allows brokers to rebate part of their commission as a renogotiation |
True
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In mediation the brokers ________ the costs and it ________ negotiable
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split; is not |
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T/F Mediation is binding?
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False, not until it's agreed upon
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it is the ____________ choice whether to accept electronic delivery
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Buyer
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Brokers use this form to modify listing contracts
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Amend Extend with Broker
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Rule E-4 requires all parties signing a listing to receive it
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Immediately
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Properties most likely to include water rights are:
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Agricultural and include irrigation
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Special improvement liens must be paid off __________, unless the buyer _______ the obligation
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at or before closing; assumes |
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