NC Real estate review appendix A

1 / 50
NC Real Estate Commission inception
Click the card to flip 👆
Terms in this set (50)
Activities requiring licensureListFSBODoesn't need a licenseMere crier at an auctionDoesn't need a licensePerson acting under POADoesn't need a licenseActivities requiring licensureLeaseAttorney in course of law practiceDoesn't need a licenseActivities requiring licensureBuys real estate for othersActivities requiring licensureAuction real estate for compensationActivities requiring licensureNegotiate for othersActivities requiring licensureSell for othersPersons negotiating financeDoesn't need a licenseTrustee in bankruptcyDoesn't need a licenseCorps or partnerships selling own propertyDoesn't need a licenseResidential manger employed by propertyDoesn't need licenseResidential manager that negotiates rent or security depositActivities requiring licensureLicense requirementsComplete written applicationLicense requirementsPay $100License requirements18 years oldLicense requirementsGood moral characterLicense requirementsDoesn't need to be resident or have citizenshipLicense requirementsPass 75 hour course or equivalent experienceLicense requirementsPass state licensing examLicense requirementsHave a social security numberLicense requirementsMust obtain a "firm" license and register trade nameInactive licenseMay request not to have licenseInactive licenseIf you don't renew each yearInactive LicenseIf provisional broker not under supervision of BicInactive LicenseUntil: update continuing ed to return statusinstrumentsWritten agency agreementInstrumentsContractInstrumentsOffer leaseInstrumentsOption to purchaseHow long to deliver instrumentASAP no later than 5 daysCopies of closing statementsNo later than 5 daysRetention of records3 years successful or unsuccessful completion or transaction or fundsBlind adAd that does not indicate property is listed with broker or firm RESTRICTEDAdvertising restrictionShall not advertise without bic consentNo sign or advertising untilSigned listing agreementDisplay of licensesCarry pocket card in personDisplay of licensesFirm must display in assigned office