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Questions and Answers
What type of listing requires the property owner to pay a broker's commission only if the broker is the procuring cause of the sale?
What type of listing requires the property owner to pay a broker's commission only if the broker is the procuring cause of the sale?
- Procurement listing
- Net listing
- Open listing
- Exclusive listing (correct)
What is the abbreviation for Multiple Listing Service in real estate?
What is the abbreviation for Multiple Listing Service in real estate?
- MRS
- MLS (correct)
- MLSVC
- MLA
Which term refers to creating a new contract while extinguishing the old one?
Which term refers to creating a new contract while extinguishing the old one?
- Expropriation
- Novation (correct)
- Executed contract
- Eviction
What is the clause that obligates the seller to pay a commission if the property is sold shortly after a listing expires?
What is the clause that obligates the seller to pay a commission if the property is sold shortly after a listing expires?
'A piece of paper that entitles the holder to a discount' is best described as a:
'A piece of paper that entitles the holder to a discount' is best described as a:
What term refers to the act of expelling someone from a property with legal support?
What term refers to the act of expelling someone from a property with legal support?
What is a conveyance of an interest in real property through the terms of a lease called?
What is a conveyance of an interest in real property through the terms of a lease called?
What type of real estate contract involves the vendee paying the purchase price in installments while the vendor retains legal title until full payment?
What type of real estate contract involves the vendee paying the purchase price in installments while the vendor retains legal title until full payment?
What term refers to creating an entitlement to a privilege or right?
What term refers to creating an entitlement to a privilege or right?
In real estate, what does an 'expiration' clause in a listing agreement obligate the seller to do?
In real estate, what does an 'expiration' clause in a listing agreement obligate the seller to do?
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