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C3 Listing Agreement

CA Real Estate Practice - The Gold Standard

QuestionAnswer
Listing employment contract between owner & licensed broker entered into for purpose of broker providing service to find ready, willing, able persons to buy/lease under terms specified in contract
Agency relationship between buyer/seller & agent
Open Listing contract for one or more brokers to act as agent for fixed commission
Exclusive Agency Listing contract where one agent or property owner has right to sell property during specified period
Exclusive Authorization & Right to Sell Listing contract which entitles broker to commission on all sales during life of agreement
Net Listing agent is to retain all money received in excess of predetermined net price to owner
Office Exclusive permission to show & submit offers
Safety Clause negotiated period after termination of listing during which listing broker may still be entitles to commission if property is sold to a buyer who viewed during listing period
Pocket Buyer person(s) ready to buy before property is listed
Where can you obtain legal description, lot size, zoning and surrounding streets info? Title Company
What is CA Transfer Tax? $0.55 per $500 of selling price or fair market value (whichever is higher)
True or False: Handwritten instruction takes precedence over printed text. True
How many days after listing expiration does an agent have to give list of people who viewed property to the seller? 3 calendar days
Section 10142 agent required to give copy of listing agreement at time of signature
Market Data/Comparative Approach value of home indicated by recent sales of comps
Cost Approach calculates current of improvement plus value of land
Net Income/Capitalization Approach net earnings by an appropriate rate (for income properties)
Which is the most valid and reliable approach to pricing a property? Comparative Approach
Buyers Market more listings than buyers (home prices decrease)
Sellers Market more buyers than sellers (home prices increase)
Home Valuation Code of Conduct (HVCC) appraisals must be conducted by 3rd party
Created by: lbrito0610
Popular Real Estate sets

 

 



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