Indian Institute of Technology - IIT Delhi
When may a licensed salesperson legally participate in the management of real property?
- When the salesperson's broker cannot supervise
- When the tenants allow the salesperson to participate
- When errors and omissions insurance covers the salesperson's actions
D. When the salesperson is under the direct supervision of the broker
A central characteristic of "management by objectives" is that:
A goals are set by top management and followed without question by others within the organization.
B. employees are given complete freedom to set their own goals as long as they are consistent with broad guidelines established by top management.
C. goals are set through a process involving all members of the organization.
D. it assumes that management must motivate employees since employees are incapable of motivating themselves.
Disciplinary action would NOT be taken against a salesperson for
- accepting a bonus commission from a seller
- failing to tell a buyer that a roof has a leak
- disclosing to a buyer that the salesperson is working for the seller*
- taking a listing on a property 2 weeks before another exclusive listing on the same property has expired
A licensee has concluded a listing presentation in the home of a property owner. The owner signs the exclusive right to sell listing agreement and gives it back to the licensee. When should the licensee give the client a copy of the signed listing agreement?
- before leaving the client's home
- after returning to the office and obtaining the broker's signature on the document
- after returning to the office to photocopy the document for the company files
D. within 48 hours of the client's signature
A licensed real estate salesperson wants to change brokers. Which of the following actions is required?
- turn in the current license to the new broker
- place the current license on inactive status
- C. notify the commission in writing within 10 days after the intended date of change and return license Course hero
D. Notify the current broker in writing within 10 days before the intended date of change