A salesperson owns a residence and wishes to sell it without listing it. Under Pennsylvania license law, the salesperson MUST

1. list the property with his firm
2. disclose in all advertising that the owner of the property is a real estate licensee
3. offer a sales commission or fee to cooperating brokers

D. have an active license

A valid exclusive listing contract in Pennsylvania must contain all of the following EXCEPT?

A. the duration of the listing

B. the commission expected

C. the listing price of the property

D. the automatic renewal clause

Can a licensed real estate broker prepare an appraisal for a new loan on a property that the broker has listed for sale?

1. yes, if the appraisal is identified as a comparative market analysis
2. yes, if the appraisal is done before an offer to purchase is accepted by the seller
3. yes, with proper disclosure to the lender about the broker's qualifications

D.no, real property appraisals are not within the scope of practice for a real estate broker

What is the MINIMUM number of hours continuing education which a real estate licensee MUST complete within the license renewal period?