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Related Flashcards
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Cards In This Set
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Appraisers must be certified by the ________
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State Board of Certified Appraisers
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In Pennsylvania, real estate counselors or consultants must be ___________
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Licensed real estate brokers
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What is the current maximum limit for flood insurance?
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$250,000
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An unlicensed personal assistant to perform activities that do not require licensure. These activities may include
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Erecting "For Sale" signs, maintaining lock-boxes on listed properties, and performing clerical and administrative tasks for the licensee
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According to Pennsylvania license law, brokers may share fees with:
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A salesperson licensed with the broker,
another licensed broker,
a consumer represented by the broker
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Compensation is construed to include: _________ This is not to be confused with referral fees paid between brokers for business. Such fees are legal as long as the individuals are licensed brokers.
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Personal property (a new television or other premiums, such as vacations and the like) as well as money.
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The penalties for antitrust violations are felony offenses punishable by a maximum ______fine and/or imprisonment up to ______ years for individuals;
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$100,000 /three
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In a civil suit a person who has suffered a loss because of the antitrust activities may recover ______ the value of the actual damages plus attorney's fees and costs.
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Triple
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The Pennsylvania Real Estate Licensing and Registration Act (RELRA) permits a broker to act as
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True/False
Designated Agency is permitted in PA
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True
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A major difference between the state and federal law is that the Pennsylvania law applies to housing accommodations and _________
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commercial property
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Fair Housing Act Penalties
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The penalties range from up to $10,000 for the first offense to $25,000 for a second violation within five years and $50,000 for further violations within seven years. The ALJ also has the authority to issue an injunction to order the offender to either do something (such as rent the apartment to the complaining party) or refrain from doing something
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Civil penalties may result in an amount not to exceed ________for a first violation and an amount not to exceed ________for second and subsequent violations.
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$50,000 / $100,000
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Ethnic Intimidation and Vandalism Act
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This law also prohibits retaliation against those who file complaints alleging discrimination, fair housing activists, and real estate licensees who are attempting to conduct business in compliance with the fair housing laws
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The licensing law (RELRA Section 608.1) requires written agreements to contain
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