Free North Carolina Real Estate Commission NCREC-Broker-N Exam Dumps Questions & Answers

A North Carolina broker just received an offer to purchase a home they have listed. According to the North Carolina Real Estate License Law and the Real Estate Commission Rules, the broker must present the offer to the seller immediately but no later than:

• A.3 calendar days of receipt.
• B.3 business days of receipt.
• C.24 hours of receipt.
• D.1 business day of receipt.

Which of the following BEST describes a seller's market?

• A.Sellers often receive multiple offers on their property.
• B.Buyers have more negotiating power.
• C.Home prices are generally falling.
• D.There are more sellers than buyers.

In North Carolina, if a listing broker is tempted to disclose the terms of an offer to get another buyer to submit a higher offer, what must the broker do?

• A.Obtain permission to disclose the terms of the offer from the seller only
• B.Only disclose the highest or best offer
• C.Obtain express authority to disclose the terms of the offer from the offering party
• D.Disclose all offers to all competing buyers because the existence of multiple offers is a material fact

A seller discusses listing their home with a broker. The seller tells the broker that when the house sells, the seller wants $200,000 in their pocket at closing, and the listing brokerage can keep any amount beyond that as their commission. What does this scenario describe?

• A.Exclusive agency listing
• B.Net listing
• C.Exclusive right to sell listing
• D.Open listing

According to the North Carolina Real Estate Commission Rules, a broker must deliver a copy of any signed purchase agreement to their client or customer within ____ of receipt.

• A.4 days
• B.3 days
• C.24 hours
• D.2 days