Listing

Multiple listing

Open listing

Open listing

Exclusive right to sell listing

Net listing

Exclusive Right to Sell

Percentage Listing
a legal contract between a property owner (principal) and a real estate broker where the latter's services,
fee, is availed of by the former in connection with the sale, lease or mortgage of a property.
A written contract between a property owner and a real estate broker authorizing him or her to perform sp
services for the principal within

The system of combining all properties offered into a common list and made available to all broker particip

The listing information is distributed to a whole range of brokers.

Where the seller also list the property with other and competing brokers on the belief that this type of
arrangement best serves his/her interest and that listing with more brokersproduces more prospects than
single listing. The owner also reserves the right to sell the property himself without incurring liability for a
commission.
A seller may enter into open listing agreements with more than one real estate firm at the same time.
In an open listing agreement, the seller agrees to pay the listing agent a commission only if the agent is th
procuring cause of the sale.
Real estate firms disfavor open listing agreements and many multiple listing associations prohibit them.
Also known as non-exclusive following the principle of "first-come, first served" basis
Mr. Babate gave an authority to broker A to sell their 2 story house and also gave another authority to bro
This kind of authority is referred to as

In an exclusive right to sell listing agreement, the seller agrees to pay the listing agent a commission rega
of who finds the buyer.
If a buyer is found (by anyone) during the term of the listing agreement, the listing agent is entitled to the
commission.
This is the type of listing agreement that's used in most residential transactions.

In a net listing arrangement, the seller designates the net amount he wishes to receive from the sale.
If the property sells for more than the amount needed to achieve the seller's net, the brokerage firm is enti
keep the excess.
In a __ listing arrangement, the seller or principal informs the agent of the net price he wants for the prope
In this kind of listing, the principal enters into a contract conferring authority to only on agent to the exclusi
others. The broker though is not entitled to commission if the principal is the one who concluded the trans

An arrangement where the real estate broker will get the professional fee only beyond the minimum amou
the owner would want to receive as referred to as

This is a kind of exclusive listing where the broker gets commission although it is the principal that conclud
transactions
The type of listing that gives the real estate broker the greatest protection:
The best protection for a real estate broker when getting an authority for listing is:
If a real estate broker would want to entitled to professional fee even if the owner is the one who was able
a buyer, he must get the following authority to sell
It is worth noting that there is no fixed percentage for brokers commission. Brokers are guided by the indu
practice. It is one where the commission of the broker is a percentage of the consideration.
Sales Agency

Purchase Agency

Lease Agency

Exchange Agency

Loan Agency

Contract of Agency

Exclusive agency
listing
The objective of the agency is to find a buyer for the property.

The objective is to find and buy a specified property.

In case the broker will assist the buyer to acquire the house and he will look for a house, it will be conside

The objective is to lease the property of the principal; or to find a specified property that is for lease in beh

The objective is to find a specified property in exchange for the principal's property.
An authority given by a developer to a broker to find supplier for cement and aggregates materials wherein
of units or developed lot, the contract is called:

The objective is to find a lender and secure a loan for the principal.

A contract in which the broker represents the seller/owner and has the power to act within the bounds of h

In an exclusive agency listing agreement, the seller agrees to pay the listing agent a commission if anyone
the buyer.
If the listing agent or any other real estate licensee finds the buyer, the listing agent is owed a commission
But if the seller locates the buyer without a licensee's help, no commission is owed.
Prospect

Suspect

Future Prospect

Demonstration

Negotiation

Closing

Earnest Money

Option Money

Option Contract

Escrow

Licensed under PRC

A person who is in need of the services or property offered and can afford to buy

One that is willing but has no capacity to pay

A person who is willing to have the capacity in the future

It involves the actual showing to the interested buyers of the subject property
Mr. Greg was handling the sale of a condominium unit and was going to show the unit and its amenities
to his client, this step in the brokerage process is referred to as:

This process involves the back and forth efforts of both parties to arrive at the perceived mutually
acceptable and beneficial terms for each one.

It is where through the active participation of the broker that both the seller and the buyer achieve the
meeting of minds necessary to create a contract.

It is the amount enclosed in an offer to buy and form of the price in case of sale:
It is a part of the purchase price. It is given only where there is already a sale.

The money given as a distinct consideration for an option contract. It applies to sale not yet perfected.

A contract by which the owner of the property agrees with another person that the latter shall have the
right to buy the formers property at a fixed price within a certain time.

It is a neutral or a third party engaged to assure the transaction will close within the manner and time
expected by the broker and/or the parties

To engage in real estate brokerage in the field of leasing warehouses, the person must be
Law on Lease
The law that governs the relationship between the real estate broker and owner in a lease transaction is:
Capital Gains Tax

18 months
Capital Asset
6 taxable real estate transactions

More than 25%

5 years
Final withholding tax

zonal
Documentary stamp tax
Tax
Statutory seller

Taxation

Percentage tax
3%

P 11,187,500

(P 12.500,000
- P 12,500,000 x 0.06
- P 12,500,000 x 0.015
- P 12,500,000 x 0.03)

20%

Treasurer of the LGU where the

property is located

Ordinary asset

1 peso
20 pesos, 10 pesos

6 taxable real estate transactions

Execution of the Deed of Absolute Sale

1.50%

3%

30 days

Within 5 days of next month

Ordinary asset

P 30,000
(500,000 x 0.06)

Expanded withholding tax

Creditable withholding tax

50%

6% - not habitually engaged

10 years

100%

Certificate Authorizing Registration -

CAR

720,000 pesos

20%
is the tax imposed in lieu of the income tax on the profits presumed to have been realized in the sale, exch
classified as capital asset by an individual, estate or trust.
Under MRO No. 1-98, an individual can now be exempted in paying capital gains tax if the proceeds of the
constructing a new principal residence within ________.
Under Revenue Memorandum Circular No. 1-98, a corporation is now subject to capital gains tax if it sold
For purposes of determining whether a seller/transferor can be considered as habitually engaged in real e
satisfactory evidence that he consummated at least ___ taxable real estate transactions during the preced
Sale of real property with ________ down payment is considered as a cash sale which requires full payme
be registered.
Unless validated, tax credit life span is only for
The tax in sale of real property classified as capital asset is a

valuation is used by the BIR as the basis for computing the capital gains tax or expanded withholding tax o
A tax affixed on documents, instruments and papers evidencing the acceptance, assignment or sale of a r
An enforced proportionate contribution imposed upon a person property or interest by the legislature for a
money is called
In a foreclosure sale, the creditor bank is the ________ and as such is liable to pay the capital gains tax b

________ is the inherent power of the State acting through the legislature, to impose and collect revenue
government and its recognized objectives.
The lease of house & lot with a rental of P100,000 per month, which is the sole income of the owner, shall
The expanded W/H tax rate on the sale of house and lot package by a developer at price of two million pe

If the expenses for the payment of capital gains (6%) and documentary stamps tax (1.5%) and 3% broker'
vendor, how much will be the net amount he will receive if he sells a property worth P12.5 million?

Per BIR 28-98, the ground floor of a condominium project shall be considered as commercial and an addi
established residential zones.

The transfer tax in the sale of real estate properties is paid at the ________.

A bank's acquired asset which form part of its real estate inventories at the close of its accounting period s

The documentary stamp on lease of real estate is P3.00 for the first P2,000.00 or fraction thereof and add
first P2,000.
The documentary stamp on every mortgage or pledge of real estate is P___ for the first P5,000.00 plus P_
excess of the first P5,000.

For purposes of determining whether a seller/transferor can be considered as habitually engaged in real e
satisfactory evidence that he consummated at least ___ taxable real estate transactions during the preced

In case of sale of real property paid under deferred payment basis, the payment of the documentary stam

(a. Notarization of transfer document

b. Execution of the Deed of Absolute Sale
c. Execution of Contract to Sell
d. Payment of the full amount)

The creditable withholding tax in the sale of a real estate dealer of a household lot priced at P220,000 is _

The withholding tax for a property sold by a real estate dealer worth, P1.5 Million is ___.

To avail of exemption from capital gains in the sale of a family home, the seller is required, among others,
form of his intention to avail the exemption. The notice must be filed within ________ from the date of sale

After a Deed of Absolute sale was made, signed and notarized when should the Documentary Stamp tax
________

Property held by the owner as inventory or stock in trade of buy and sell business or used in connection w
referred to as ________.

The capital gains tax due on sale of P2,000,000 property with P500,000 initial payment is P________.

Capital gains tax on the sale of real estate classified as capital asset is a
(a. Creditable tax on sale
b. Deductible item from income tax
c. Prepaid income tax
d. Deduction from value added
e. Expanded withholding tax)

If the property sold is an ordinary asset, what is the applicable tax?

In case of false or fraudulent Estate, Donor, or Capital Gains Tax BIR form was willfully made, how much
deficiency tax shall be imposed?

The sale of real property worth P1,500,000 considered as ordinary asset by a person who is not habitually
subject to a creditable withholding tax rate of _____.

The exemption on payment of CGT on the sale of principal residence may be availed of only once every _

Spouses A & B sold their principal residence and as their broker, you should advise them that the transac
they spend ________ of the proceeds of the sale in acquiring their new principal residence.

After paying the capital gains tax and documentary stamps, a ________ is required from the BIR prior to t

The W/H tax of a broker becomes 15% when his accumulated income for the year is already more than P

Per BIR 28-98, the ground floor of a condominium project shall be considered as commercial and an addi
established residential zones.
________.