the basics

Question 1

How to re transactions work?

Answer 1

1. listing presentation/listing agreement
2. market the property-mls multiple listing service, other websites etc.listed email blast.brochures etc,social media
3. open house/show the property
4. offer submitted & accepted
5. home inspections (sometimes)
6. sign p&s (purchase and sale contract)
7. financing secured if needed
8. conditions met
9. on the record=comissions

Question 2

rentals

Answer 2

• renter works with you as their agent
• show apartments
• applications
• FMR( first months rent and any applicable fees)due
• lease signing
• keys/given move in

Question 3

co-broke

Answer 3

split with another brokerage

Question 4

who needs a re license?

Answer 4

-anyone who does re related sctivity for a fee (or expectation of a fee)

Question 5

where do licenses come from?why do we have them?

Answer 5

to protect consumers

-police power=right of govt to enact laws to protect publci

Question 6

board of registration of re brokers & salespersons (ma)

Answer 6

-deals with issuing license, license renewal, rule administration & enforcement
1000 washington st, boston ma 02118

Question 7

re board members?

Answer 7

-5 members- 2 public
-3 brokers w/7+ years experience
-seats serves for 5 years unpaid
-meet 4 times a year
assigned by the governor

Question 8

who is special agent

Answer 8

broker

Question 9

subagent

Answer 9

sales person

Question 10

issues re license

Answer 10

board of registration