Chp 5 Real Estate Brokerage

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  1. Laws designed to preserve the free enterprise of
    the open marketplace by making illegal certain private conspiracies and
    combinations formed to minimize competition. Most violations of antitrust laws
    in the real estate business involve either price-fixing (brokers conspiring to
    set fixed compensation rates) or allocation of customers or markets (brokers
    agreeing to limit their areas of trade or dealing to certain areas or
    Antitrust laws
  2. The bringing together of parties interested in
    making a real estate transaction.
  3. Payment to a property that are necessary or
    convenient to the existence, maintenance, and safety of a condominium of are
    normally in common use by all of the condominium residents. Each condominium
    owner has an undivided ownership interest in the common elements.
  4. A statement indicating no legal responsibility
    for information; no warranties or representations have been made.
  5. An act that makes contracts (including
    signatures) and records legally enforceable regardless of the medium in which
    they are created.
    • Electronic Signatures in Global and National
    • Commerce Act (E-Sign)
  6. Someone who works as a direct employee of an
    employer and has employee status. The employer is obligated to withhold income
    taxes and Social Security taxes from the compensation of employees. See also
    independent contractor.
  7. Someone who is retained to perform a certain act
    but who is subject to the control and direction of another only as to the end
    result and not as to the way in which the act is performed. Unlike an employee,
    an independent contractor pays for all expenses and Social Security and income
    taxes and receives no employee benefits. Most real estate salespeople are
    independent contractor pays for all expenses and Social Security and income
    taxes and receives no employee benefits. Most real estate salespeople are
    independent contractors
    Independent contractor
  8. A powerful computer tool for providing
    information about properties, relocation services, and particular communities;
    however, state laws do apply.
    Internet advertising
  9. A policy from the National Association of
    Realtors that allows all MLS members to have equal right to display MLS data,
    and respects the rights of property owners and their listing brokers to market
    a property as they wish.
    Internet Listing Display Policy
  10. Some state are requiring that licensees perform
    some minimum level of service of service to clients.
    Minimum level of services
  11. See Do Not Call Registry.
    National Do Not Call Registry
  12. Person who is prepared to buy property on the
    seller’s terms and is ready to take positive steps to consummate the
    Ready, willing, and able buyer
  13. Sets forth rules for entering into an
    enforceable contract using electronic means
    Uniform Electronic Transactions Act (UETA)

Card Set Information

Chp 5 Real Estate Brokerage
2013-08-14 17:14:32
Real Estate

Real Estate
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