Finance 182-Real Estate Practices Faif Semester 2017 Upcfated 09.25.2017 Chapter 1: Getting Started in Real Estate real estate marketplace is a stratified marketplace. Stratified means that Prices are at high levels. Prices can be expected to continue to rise he marketplace is not the same in different price ranges A. 0. The marketplace reflects the income of the buyers. ly in the sale of: A. Residential property. B. Leasehold property. C. Commercial property. D. Zone lots and raw land. 3. The IRS will treat the real estate salesperson as an independent contractor if 3 criteria are met. These criteria include: A. B. The salesperson must be licensed as a real estate agent. R eimbursement to the salesperson must be solely based on sales, not on hours worked. There is a written contract that states the salesperson shall be treated as an independent contractor for tax purposes. C. D. All of these. 4. In choosing a broker, a new licensee should place primary consideration on: A. Work-hour requirements. B. Commission schedules. C. Training provided. D. Newness of the office. . An advantage of the multiple listing service is that it: A. B. Requires set commissions. Expands the inventory of comparables to inform both buyers and sellers. Shifts the commission responsibility to the buyer. Prohibits overpriced listings. C. D