Real Estate U Nys - Chapter 2 Exam 2 Complete Questions And Answers 2024/2025 (100%) Verified | Rated A+

According to NYS Law, how much income must an agent generate in order to maintain their status as a licensed real estate agent...? A. 5000 B. 1000 C. There are no required minimum earnings D. 10000 {Ans: C. There are no required minimum earnings}According to New York State law, an independent contractor agreement can NOT be signed under what condition...? A. Lack of job prospects B. Duress C. Accepting the position to earn extra income D. Influence by another agent {Ans: B. Duress}What is the typical commission paid to the buyer's agent in a transaction...? A. 5 (Percent %) B. 3 (Percent %) C. 6 (Percent %) D. 1 (Percent %) {Ans: B. 3 (Percent %)}According to an Exclusive Right to Sell agreement, what price is listed in the agreement...? A. The Sale Price B. The Listing Price C. The Fair Market Value Price D. The price as determined by an appraisal {Ans: B. The Listing Price}David is a real estate broker who represents a buyer in a transaction. David finds a potential property for his client on the MLS. By agreeing to the cooperative arrangement of the MLS, David has become a sub-agent to whom...?