QUIZZES
QUIZZES
QUIZZES
Sharing of broker with other brokers Obtain license from PRC and register with HLURB
The following is not contained in an authority to sell a The real estate broker in deciding to sell subdivision
house and lot located in a subdivision projects, must undertake the following before
(a. Type of improvements engaging in practice
b. Taxes to be paid
c. Broker's professional fee Suspect
d. Sharing of broker with other brokers) A buyer was found by the real estate broker who was
willing to buy the lot but could not afford the price.
Exclusive agency listing The buyer may be referred to in the meantime in real
The owner gave a listing wherein the exclusive broker estate as a
will not be entitled to commission if the owner
himself sells the property to his buyer. This authority P 5,056,180
is referred to as (C = SP / R)
(4,500,000 / [1 - 0.06 - 0.05])
Fiduciary relationship The property owner wanted a net amount of P
The relation of trust which governs that of the owner 4,500,000 and seller
and the listing broker is referred to as will pay for the capital gains tax and the 5% broker's
commission.
P 240,000 What price should the property be sold?
(8,000,000 x 0.05 = 400,000
400,000 - 160,000) P 3,491,620
Two brokers sold a property at P 8,000,000 at 5% (2,500,000 x 1.25 = 3,125,000
professional fee. If broker A got P 160,000, how much 1 - 0.06 - 0.03 - 0.015 = 0.895
is the share of broker B? 3,125,000 / 0.895)
An owner bought a lot but would like to sell it with a
The consent of the owner is given profit of 25% of his cost of P 2,500,000 with capital
The real estate broker may advertise the property for gains (6%), 3% commission and doc stamps tax (1.5%)
sale provided for his account. How much should the broker sell it?
Forfeited P 356,250
The buyer backed out of the sale after paying the (7,500,000 x 0.05 = 375,000
earnest money to the seller. In general, the earnest 375,000 x 0.05 = 18,750
money in this case will be 375,000 - 18,750)
What is the net commission before tax of a broker
Acts within the scope of authority given by the who sold a house for P 7,500,000 if 5% of the 5% is
broker given to Mr. B as referral fee.
The broker hired a real estate salesperson to sell the
house. His liability for the real estate salesperson shall Non-exclusive listing
be limited to An authority granted to two or more brokers to lease
a property
To warrant that the title is transferred to the buyer
The following is not considered a duty of the real Transfer the title in the name of the buyer
estate broker The following is not part of the functions of a real
estate broker
(a. To be loyal to the seller who gave the authority Accredited by PRC and registered with HLURB
b. To account all money entrusted to the broker The real estate broker may hire real estate
c. To inform all facts relevant to the transaction salespersons to handle
d. To warrant that the title is transferred to the buyer) project selling provided the real estate salespersons
are
Direct buyer
A buyer of a house and lot bought it without engaging
the services of a real estate broker and such buyer
would be referred to as
Anser-property management
-
amortatzition
a process of making installment payments
consisting of principal and interest that
reduces the loan balance
9. Purchase agency
In case the broker will assist the buyer to
acquire the house and he will look for a
house, it will be considered what type of
agency