Which of the following statements about an expired real estate license in Washington is correct? Expired licenses are considered inactive until renewal is complete.
Which of the following statements describing a dual agent’s responsibilities in Washington is the most accurate?
Which of the following statements describing a dual agent’s responsibilities in Washington is the most accurate? A dual agent is only obligated to perform the statutory duty of honesty with the two clients in the relationship.
What is the maximum amount of time that can elapse between completing the required coursework and applying for a Washington managing broker’s license?
Managing Broker Continuing Education Requirements
At least 15 hours must be completed within 24 months of renewal date. Licensees may use up to 15 hours of unused education completed within 48 months of renewal date.
Which of the following conditions would keep implied buyer agency from existing in Washington?
Compensation for all licensees that work for the property.
Which of the following information must appear on the firm’s records for a trust account deposit?
The record must show the following in chronological order: date of deposit; amount of deposit; name of payee or payor; check number; date and amount; and balance of the individual account after posting transactions on any date.
Which one of the following statements about dual agency in Florida is true?
Which of the following statements about dual agency in Florida is true? A licensee can’t act as a fiduciary for a buyer and a seller in the same transaction. It is unlawful for a licensee to act as a dual agent in Florida.
What are a listing agents responsibilities?
Listing agents help sellers price, stage and market their property, show it off to prospective buyers and negotiate offers. A buyer’s agent represents the interests of the home buyer in a real estate transaction and works to help them find their new home and negotiate a fair price.
How long before expiration can a firm submit a license renewal application in Washington?
When it’s time to renew, you’ll get a notice that provides instructions. You can renew your broker license as early as 120 days before the expiration, but everything has to be submitted by that date.
How many total hours of coursework must a Washington license renewing for the first time have taken?
Complete 60 clock hours of continuing education coursework and file an affidavit of reactivation with the DOL.
How often do you have to renew your real estate license in Washington?
How long can my Washington real estate license remain inactive? You may remain inactive as long as you’d like but you’ll need to renew your license every two years.
What is the real estate commissioner not responsible for?
Only the Commissioner—not the courts—can restrict, suspend, or revoke a real estate license. A complaint that involves simple disputes or minor issues between consumers and licensees is usually handled by the Advocacy Program as an alternative to setting up formal investigations.
Which of the following is a reason that a proposed real estate company name may be rejected by the Washington State Department of Licensing?
Which of the following is a reason that a proposed real estate company name may be rejected by the Washington State Department of Licensing? The name implies affiliation with the government.
How long should Brokers keep records of what types of housing each prospective buyer asked to see?
office policies occurred. These records should be kept for at least two years, and in many instances, longer in accordance with state law. Brokers should also consider developing or purchasing a brochure that can be given to all prospective buyers and tenants.
What information must be shown on a trust account receipt?
The name of the person making out the receipt must be recorded on the receipt, 5. The original receipt must, as soon as practicable, be given to the person from whom the trust money was received, 6. A copy of the receipt must be retained as part of the law practice’s trust records.
How long must a broker maintain records?
The length of time your broker must keep records depends on the type of record. For example, brokers must retain blotters (records containing details of all purchases and sales of securities) for at least six years. But they must keep copies of trade confirmations for only three years.
Brokers are responsible for notifying the Real Estate Commission Office, in writing, whenever a trust account is closed. The written notification should include the account number, the name of the financial institution, and the date on which the account was closed or will be closed.