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A rental listing referral agent is defined as an individual or entity that owns or manages a business which collects rental information for the purpose of referring prospective tenants to rental units or locations of rental units (201 and 35.201). Rules of the commission require that the asking price and a specified commission rate or amount be included in an exclusive listing agreement. 11. 3. 7. Regarding agreements of sale, all of the following statements are true EXCEPT. 4. Once issued, a salesperson's license must be. The agent, ha Use LEFT and RIGHT arrow keys to navigate between flashcards; Use UP and DOWN arrow keys to flip the card; audio not yet available for this language, 1. (The Commission will not intervene in issues that result from disputes involving real estate sales commissions or broker cooperation.). 148. D) {"cdnAssetsUrl":"","site_dot_caption":"Cram.com","premium_user":false,"premium_set":false,"payreferer":"clone_set","payreferer_set_title":"PA REAL ESTATE EXAM","payreferer_url":"\/flashcards\/copy\/pa-real-estate-exam-312440","isGuest":true,"ga_id":"UA-272909-1","facebook":{"clientId":"363499237066029","version":"v12.0","language":"en_US"}}. Salespersons and associate brokers are employed by and provide services on behalf of their employing broker. An individual who holds a salesperson's license issued by another jurisdiction wants to obtain a Pennsylvania salesperson's license. Can N sue to recover payment? A salesperson receives an offer on a property currently listed exclusively with. A salesperson engaged in activities that constitute violations of the Pennsylvania Human Relations Act, including blockbusting and discrimination on the basis of disability. 168. How long must a real estate broker keep records relating to real estate transactions? 6. License law requires the broker to keep records relating to a real estate transaction for three years following consummation of the transaction (604 (a)(6)). 3. There is neither a requirement addressing number of employees nor a requirement that a licensee affiliate with any professional organization. Call centers today play an important role in managing day-to-day business communications with customers. 1. 4. Owners of real estate conducting business with respect to their own property are not required to be licensed. At closing, the broker handed the seller a personal check for $5,300, representing the original earnest money plus 6 percent interest. 26. Time, 907386858087907884717288\begin{array}{lllllllllllll}90 & 73 & 86 & 85 & 80 & 87 & 90 & 78 & 84 & 71 & 72 & 88\end{array} 4. Indiana real estate commission consists of: 12 members - all appointed by the governor serve a 4 year term. A firm may conduct real estate brokerage services at an office location where the firm or designated broker concurrently conducts a separate, business activity if the real estate brokerage service activities are carried out separate and apart from any other business activities by the firm or designated broker. When advertising the property, the salesperson. They do not apply to other activities for which licenses are required, i.e., time-shares, cemetery brokers, or licensed builder owners (404.1 (a)). Which of the following provisions must be included in an agreement of sale? There is no requirement to maintain a separate account for each deposit (35.325); (604 (a)(5)). Which of the following best describes a brokerage agreement?