April 10th, 2023 at 2:42 pm
Multiple Choice Question: When should you as the real estate agent be asking for a tenant estoppel certificate? Pick the best answer:
A. When you are taking a listing for a lease, but the property has an existing tenant.
B. When you are taking a listing for a sale, and the property has an existing tenant.
C. When you are the seller’s agent, and your client is selling the property subject to an existing tenant.
D. When you are the buyer’s agent, and your client is buying the property subject to an existing tenant. (more…)
April 3rd, 2023 at 2:57 pm
Fact Pattern: You are the listing agent for a lease. The landlord and new tenant have mutually executed a C.A.R. Residential Lease or Month-to-Month Rental Agreement (RLMM). The tenancy was scheduled to begin on April 1, 2023. But the tenant has not paid the move-in costs that came due on March 31, 2023, nor has the tenant moved into the leased premises.
Multiple Choice Question: Can the landlord cancel the lease agreement? Pick the best answer:
A. Yes, because the tenant has breached the lease.
B. Yes, after serving a 3-day Notice to Pay or Quit.
C. Yes, after serving a 2-day Notice to Pay.
D. No. (more…)
March 27th, 2023 at 3:43 pm
Fact Pattern: An agent from another company has a new promotion. He is advertising that anyone who gives him the name of someone interested in buying or selling real estate will be entered into a raffle for a chance to win a trip for 2 to Cabo.
Multiple Choice Question: Is this promotion legal? Pick the best answer:
A. Yes.
B. No, it violates the Real Estate Settlement Procedures Act (RESPA).
C. No, it is an illegal lottery.
D. No. (more…)
March 20th, 2023 at 1:50 pm
Agents Beware! Always be on the lookout for scams! Some of our agents have recently been contacted by phone by someone purporting to be Chief Deputy Danny Burkowski of the U.S. District Court. The scammer claims that he has a subpoena requiring our agent to appear in court. He further claims that the subpoena is signed by our agent (or perhaps someone forged our agent’s signature). The scammer may also say that, because our agent has missed the court date, a warrant has been issued for our agent’s arrest. The scammer may also claim that our agent can resolve the issue by immediately posting bail, e.g., through the agent’s Zelle account. (more…)
March 13th, 2023 at 1:17 pm
Fact Pattern: You have been showing properties to a buyer under a signed Buyer Representation Agreement (BRBC). As it turns out, the buyer only wants you to help her write extremely low-ball offers that all end up going nowhere. You’ve tried your best to encourage the buyer to change her approach, but to no avail.
Multiple Choice Question: Can you terminate your agency relationship with the buyer? Pick the best answer:
A. Yes, by mutual agreement only.
B. Yes.
C. No.
D. It depends on how the Cancellation paragraph in the BRBC was completed. (more…)
