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Practice of Real Estate Question

Posted by on in Practice of Real Estate
A real estate agent is not able to   A) INFORM CUSTOMERS OF NEIGHBORHOOD AFFLUENCE, RACE, AND SCHOOL DISTRICTS. B) WORK WITH A CLIENT TO DETERMINE IF A PROPERTY IS SUITABLE FOR HIS FAMILY           C) ASK THE BUYER WHAT REASONS THEY HAVE TO SELL THE PROPERTY        D) EXPLAIN THE HUD-1 SETTLEMENT FORM           A real estate agent is not allowed, by law or ethics, to divulge information about a region’s demographics as far as race is concerned, however they can refer a customer to a source that will state these statistics.     ... Continue reading

In real estate and Accretion

Posted by on in Practice of Real Estate
In real estate and Accretion   In real estate, when an earthquake moves the land, this is called   1) AVULSION 2) ACCRETION 3) APPROPRIATIVE 4) RIPARIAN   A sudden change in land is avulsion, whereas a subtle change in land is termed accretion. Another example of this outside of an earthquake would be a river changing course. Riparian – or Riparian Rights are rights associated with water. For example if there are six separate properties surround a lake, all property owners have equal use to the water as long as they use it reasonably. If there is not enough... Continue reading

Dual Agency and the real estate broker exam

Posted by on in Practice of Real Estate
What to know about Dual Agency For those of your preparing to take the real estate broker (or agent) exam, I will be continuing to add short overviews on topics that you need to understand on test day. For "Dual Agency", which sounds confusing at first glance, here is what you need to know: Dual Agency occurs when a single real estate brokerage is both the listing agent for a property as well as the buyer’s agent. Dual agency can have both pros and cons for all involved in the transaction. Pros – In many cases when dealing with a... Continue reading

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