Broker Sam has extended an offer to licensee Jane, who has accepted the offer. Jane will work as an independent contractor for Sam. Based on this, which
... [Show More] of the following statements is true?
-As an independent contractor, Jane will not have to fill out any tax-related or IRS-related paperwork.
-It is up to Jane whether or not she wants to have taxes withheld from her pay. If she does choose to have taxes withheld, she must complete a W-4.
-Jane will need to fill out a W-4 for tax withholding information.
-Jane will need to fill out a W-9 for IRS reporting purposes. - ANSWERS -Jane will need to fill out a W-9 for IRS reporting purposes.
Danielle's friend, Joanna, is an agent. Danielle is considering listing her property and shares the details with Joanna. Joanna creates an MLS listing and places a sign in Danielle's yard. Danielle knows that Joanna will do a good job, so even though she hadn't actually agreed to let Joanna list the property, she permits her to start scheduling showings. Which of these is an example of ratification?
-Danielle knows Joanna will do a good job, so she permits Joanna to start scheduling showings.
-Danielle sues Joanna because Joanna didn't have Danielle's permission to list the property.
-Joanna presents several offers to Danielle.
-Joanna schedules an open house at Danielle's property. - ANSWERS -Danielle knows Joanna will do a good job, so she permits Joanna to start scheduling showings.
Which of these would be an advantage for the broker of hiring licensees as salaried employees, rather than as independent contractors on a commission-based compensation plan?
-Agents will bear the cost of their own business expenses.
-Desk fees charged to agents can usually cover the cost of their salaries.
-Licensees tend to find a steady salary highly motivating and will be more productive.
-Sales agents will probably make fewer errors as a result of more broker control and supervision. - ANSWERS -Sales agents will probably make fewer errors as a result of more broker control and supervision.
Fliss likes to give her associates good value in exchange for the time they take to come to her sales meetings. That's why she often ___________ at the meetings.
-Asks different associates to share a best practice tip
-Pays associates an hourly rate for the time spent
-Provides coffee and doughnuts
-Shows inspirational videos - ANSWERS -Asks different associates to share a best practice tip
In addition to the property address, the lease agreement start and end dates, and the monthly rent and deposit amounts, which of the following pieces of information should all commercial leases contain?
-A complete list of the other tenants and their rental rates
-A copy of the tenant's credit report
-A detailed description of the property
-The purpose for which the space is being rented - ANSWERS -The purpose for which the space is being rented
What action does RESPA prevent brokers from performing?
-Making more than five sales per quarter in a given neighborhood
-Preparing a market analysis
-Providing kickbacks to settlement providers
-Releasing confidential client information to the public - ANSWERS -Providing kickbacks to settlement providers [Show Less]