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A person is deemed to be "in the business of selling or renting real estate" if they have in the past ______ months, participates as an agent, other than the sale of his own personal residence, in providing sales or rental facilities or sales or rental services in ________ or more transactions involving the sale or rental of any dwelling or any interest therein, and is the owner of any dwelling designed or intended for occupancy by, or occupied by, _______ or more families.

Respuesta :

Answer:

12 months, two, five

Explanation:

As per different Federal Acts in the country, the law defines a person to be in the business of real estate in two categories:

Principal: The one who has minimum experience of twelve months, and has completed at-least 3 transactions of selling or rental facilities.

Agent: This one majorly works for the former principle. As we see, to call himself an agent, he has to have a work experience of 12 months, but in those twelve months he has at-least done 2 activities of sale or renting, or is involved for dwelling facilities designed for providing  families or more.  

adioabiola

Complete the sentence using the appropriate word.

A person is deemed to be "in the business of selling or renting real estate" if they have in the past 12 months, participates as an agent, other than the sale of his own personal residence, in providing sales or rental facilities or sales or rental services in two or more transactions involving the sale or rental of any dwelling or any interest therein, and is the owner of any dwelling designed or intended for occupancy by, or occupied by, five or more families.

Real estate can be categorized into different types. They are

  • Residential,
  • Commercial,
  • Industrial,
  • Agricultural

Therefore, Real estate company can be categorized into two:

  • Principal: Has a minimum of 12 months experience has completed at least three transactions

  • Agents: Also has at least 12 months experience but number of transactions completed is at least two.

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