If a new manufacturing plant opens nearby and is offering a 1,000 new, high-payi
ID: 396022 • Letter: I
Question
If a new manufacturing plant opens nearby and is offering a 1,000 new, high-paying jobs, the likely increase of the area’s real estate values will reflect the principle of
substitution.
progression.
supply and demand.
contribution.
Which of the following is a discriminatory activity?
Telling a prospective buyer or tenant that a property is not for sale or rent when it is
Showing only properties that are within a buyer's financial range
Showing properties currently in the process of "filtering down"
Describing a property the same way with all buyers
A couple signs an offer to buy on a property. According to the law the affiliate broker needs to give them a copy of the offer
as soon as it is presented to the seller.
immediately.
if it is accepted.
when the contract has been signed by all parties.
Explanation / Answer
1. C supply and demand
Principle of supply and demand is simple and practicle in every market. If the demand of a product is high but since the supply is limited, price tends to go up. When high paying jobs are offered, money spending power increases and so does demand,which means price of real estate goes up. Hence principle of supply and demand.
2. A. Telling a prospective buyer or tenant that a property is not for sale or rent when it is.
It is considered a discriminatory action if a broker denies to show a property to a prospective buyer or tent as per federal laws. It could be based on color caste, age etc.
3. A. Immediately
An affiliate broker is required by law to furnish the signed copy of all the agreements to all the parties even if it is a purchase or buying offer contract immediately.
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