What is a stratified marketplace?

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Stratified marketplace the real estate market is a marketplace that is stratified based on price, lot size, neighborhoods, year the house was built, square footage and location. Strategic default occurs when a borrower stops making mortgage payments on a property he or she can afford.

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Besides, what does stratified marketplace mean?

Terms in this set (100) The real estate marketplace is a stratified marketplace. Stratified means that: the marketplace reflects the income of the buyers. c (the marketplace is not the same in different price ranges.)

Furthermore, when selling real estate the least effective form of communication is? When selling an older home, disclosure must be made to the buyer of any repairs made within the last: five years. When selling real estate, the least effective form of communication is: by letter (one way).

Just so, which kind of listing agreement requires the seller to pay a commission to her broker if the property is sold unless the seller sells the property herself?

Exclusive Right-to-Sell Listing The owner pays both the listing and selling broker fees. The owners cannot sell the property themselves without paying a commission unless an exception is noted in the contract.

What happens when there are multiple offers on a house?

home in your area. When there are multiple offers, the seller typically takes one of three actions: Accepts the most favorable offer. Counters all offers to give everyone a chance to come back with a better bid in an effort to get the best price and terms.

What are the 5 types of agency?

The five types of agents include: general agent, special agent, subagent, agency coupled with an interest, and servant (or employee).

How long are most realtor contracts?

The length of the contract can be three months, six months, a year, or any other period you choose. Agents often don’t like taking listings for less than a month because they don’t have enough time to market the house before the listing expires. A six-month listing is average.

What are the three most common types of listings?

What are three most common types of listing? Open listing, exclusive right to sell listing, and exclusive agency listing thing.

Which listing agreement is used by most brokers?

exclusive right to sell listing

What kind of listing agreement is illegal in many states?

Net listing: This type of agreement may be illegal in your state. The agent gets to keep everything he can get that’s more than the sale price the owner wants.

How do I get out of a real estate listing agreement?

“Re-read the listing contract that you signed with your agent. Look for verbiage such as “cancellation” or “termination.” Many contracts allow you, the seller, to cancel the listing without penalty, as long as the agent agrees to cancel it, too.”

What type of listing is generally used when the broker wants to purchase the property?

“The exclusive right to sell listing is preferred by most brokers, because it provides the MOST PROTECTION for the broker. It’s the type of listing that’s most commonly used. Like an exclusive agency listing, an exclusive right to sell listing requires a definite termination date.”

What is an exclusive right to sell in real estate?

exclusive right to sell listing. Formal agreement under which a real estate agent has the sole right to sell a specified property, usually within three months. Also called exclusive right to sell.

What is the least effective form of communication?

The first indicates information supplied one way—i.e., delivered to the user without any question and answer. A paper document is the least effective, with audiotape (sound only) being better, and videotape (on film) being the best.

What does the paragraph on repairs state?

What does the paragraph on repairs state? The buyer must make all repairs. If checked, the seller can complete repairs after closing. The seller can do all repairs himself.

How a house appears to a passerby compared to the rest of the neighborhood is referred to as?

How a house looks to a passerby when compared to the rest of the neighborhood is called: curb appeal.

When a listing agreement is signed all commissions are?

When a listing agreement is signed, all commissions are: Negotiable between seller and listing broker.