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Real Estate Numbers by the Numbers Part 1 of 3
Terms in this set (15)
Numbers of business days a clients check can be held before it must be deposited into Broker's trust account
Numbers of square feet in an acre ?
43.560 sq. ft.
Familial status pertains to children under the age of ?
Amount of money a first -time home buyer can withdraw penalty free to purchase a home ?
Number of hours of Brokers Licensing class
30 Hours Office Management
30 Hours Ethics
90 Hours Pre-Licensing
NJ real Estate Licensing Act is known as :
Title 45, Chapter 15
Numbers of Commissioners serving the Real Estate Commission:?
-? Brokers with ?? years of more experience
- ? Members for the public
- ? Member appointed by Governor
8 - Total
5 Brokers with 10 years of more experience
2 Members for the public
1 Member appointed by Governor
Cost to renew a Sales person License ????
?? per year (licensees renew biennially on the odd years)
$100.00 for the 2 years or $50 per year
Days a broker has to pay a sales person ???
Time to transmit written offers to the seller once received?
The dollar amount of deposit that must be reported to the IRS: ??
Minimum age requirement to hold a NJ Real Estate License: ??
18 years of age of the older
initial license/application fee for a Sales Person or Referral Agent
All records, not including the three exceptions, must be kept by the broker for : ??
Unaccepted offers: ?
Expired Listings: ?
NJ Block Busting record keeping:?
All records, not including the three exceptions, must be kept by the broker for :6 years
Unaccepted offers: 6 Months
Expired Listings: 6 Months
NJ Block Busting record keeping: 1 year
Proration is typically calculated based on ??days a month??? and ???? in a year
Proration is typically calculated based on 30 days a month and 360 Days in a year
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