Humber real estate Study guides, Class notes & Summaries

Humber Real Estate - Course 2, Module 6, Understanding Residential Construction - Structural Components 2023 with complete solution

- Date and time of the request - Consumer's name and contact information - Applicable 10-digit phone number(s) - correct answer A brokerage, as a telemarketer, must register with the National Do Not Call List (DNCL) but also maintain an internal do not call list. What should the internal do not call list contain? A minimum of 3 years - correct answer How long must numbers recorded on the internal Do Not Call List be kept? If the person ... - Made an inquiry within the last six mont...

What are some sample questions to understand seller's needs and motivations? - correct answer - why do you want to sell the property? - what are you plans once you sell? - when do you hope to have the home on the market? - what is your ideal closing date? - do you have a listing price in mind for the property? - is there a definite time period in which the property must be sold? - have you already purchased another property? - are there any current issues with the property? What is ...

MASTER SET HUMBER REAL ESTATE COURSE: 1 QUESTIONSAND ANSWERS ALREADY PASSED What does REBBA stand for? Real Estate and Business Brokers Act Whose role is it to enforce REBBA? RECO Purpose of REBBA? provide a framework for the responsive regulation of the real estate profession to protect consumers and ensure the integrity of real estate transactions is upheld. What Ontario government body is responsible for REBBA? The Ministry of Government and Consumer Services is 'responsible' for REBBA, ...

The relationship between two parties in which one party (the agent) accepts responsibility for representing the other party (the principal) in dealing with a third party. CORRECT ANSWER Under Ontario law, how is an 'agency relationship' defined? Client & Customer CORRECT ANSWER While common law uses the terms 'Principal' and 'Third Party', what terms does REBBA use instead? The Common Law of Agency CORRECT ANSWER The underlying relationship of the brokerage, salesperson, seller and b...

Humber Real Estate - Course 2, Module 7, Understanding Residential Construction - Mechanical Systems 2023 Questions and Answers

MASTER SET HUMBER REAL ESTATE COURSE: 1 Latest Update 2023 with complete solution

Humber Real Estate - Course 2, Module 7, Understanding Residential Construction - Mechanical Systems 2023 with complete solution

What is a contract? CORRECT ANSWER A legally binding agreement between two or more persons, competent at law to enter into such agreement, for consideration or value, to do or refrain from doing something lawful. True or false? An oral contract for the acquisition or disposition of any interest in the land is enforceable. CORRECT ANSWER False. Any contract in real estate is required to be in writing. When drafting a contract, what does The Statute of Frauds require? CORRECT ANSWER - Must b...