Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

27) A Missouri real estate firm uses a guaranteed sales program as an incentive for homeowners who list their properties with the firm. Which of

27) A Missouri real estate firm uses a guaranteed sales program as an incentive for homeowners who list their properties with the firm. Which of the following best describes the type of contract the firm must enter into for this transaction.

A) a contract that sets out all the terms and conditions including the sellers' expected proceeds.

B) A contract to purchase prior to the time of entering into the listing agreement.

C) A contract to purchase no later than five days after extending the listing agreement.

D) A contract to purchase executed prior to the expiration of the listing agreement.

28.) A part time salesperson owns a piece of rental property that she wishes to advertise for rent. In Missouri which of the following is a permissible way to advertise without listing the property with her broker

A) For rent 327 South Maple, two-bedroom call 555-12344

B) For rent 327 South Maple, two bedroom $850 a month call owner at 555-1234

C) For rent 327 South Maple, two bedroom by owner salesperson call 555-1234

D) For rent, two bedroom $900 a month call owner at 555-1234

29.) A broker lives in a city but has many listings in a resort area 75 miles away. For the sake of convenience, she opens a small branch office in the resort area with one salesperson assigned to the new office. The broker acts as a supervising broker, she is in regular contact with the salesperson as well as visiting the new office every two weeks to handle closings. Is this arrangement permissible under Missouri license law?

A. Yes, because the salesperson does not handle any closings personally

B. No, because the broker has only nominal control over the branch office

C. No, because a broker can only handle closings for transactions in which she was a selling agent

D. Yes, because the branch office is only the direct supervision of a licensed broker

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Economics questions

Question

What fundamental changes has the Internet brought to marketing?

Answered: 1 week ago