An agency relationship exists when one person, the _____________, acts for or on behalf of another person, the ____________. - Answer- Agent,
... [Show More] principal
Which of the following is grounds for suspension or revocation of a real estate license by TREC?
1). Splitting a commission with a person other than a license holder.
2) Splitting a commission with a Texas real estate license holder.
3) Disclosing a material defect of a property.
4) All of these. - Answer- 1) Splitting a commission with a person other than a license holder.
The commission can deny licensure to an applicant based on the applicant's
1) credit score
2) work history
3) determination of fitness
4) college transcript - Answer- 3) determination of fitness
What form must an agent provide to a potential client at first substantive discussion of a real estate transaction? - Answer- Information About Brokerage Services (IABS)
An example of a general agent would be a(n):
a) Property Manager
b) Escrow Agent
c) Cooperative Broker
d) Intermediary - Answer- Property Manager
Which of the following would NOT be an example of the fiduciary duty of reasonable care?
a) helping client meet contract deadlines
b) assisting seller to arrive at a reasonable listing price
c) discovering relevant facts and disclosing these to the client
d) taking buyer or seller to dinner after closing - Answer- Taking buyer or seller to dinner after closing
Seller Kristen meets with agent Angel and likes his plan for marketing her home. She decides to sign a listing agreement with him, thereby creating a____________________ relationship. - Answer- Special agency
Broker Susan is representing the seller at We Sell it Fast Realty while Broker Daniel from Daniel's Properties is working with a buyer customer. Susan is representing the seller. Who is Daniel Representing.
a) the seller
b) the buyer and seller
c) the buyer
d) broker Susan - Answer- The seller
In Texas, there is no ___________ agency relationship with any party to a transaction.
a) implied
b) general
c) special
d) Universal - Answer- Implied
A broker's responsibility for disclosure is limited to areas:
a) inside the property
b) outside the property
c) accessible for visual inspection
d) the seller informs them of - Answer- C) accessible for visual inspection
According to TREC's advertising rules, which of the following terms MUST be used in a real estate team name?
a) Company
b) Realty
c) Associates
d) Group - Answer- d) Group
TREC's advertising rules require sales agents to include the broker's name, the brokerage name, or the broker's___________ in at least 50% of the largest contact information font on all forms of advertising.
a) email address
b) website url
c) cell phone #
d) assumed name - Answer- d) assumed name
All listing agreements must have a definite - Answer- Termination date
Subagency is: - Answer- When a license holder not associated with the seller's broker is representing the seller through a cooperative agreement with the seller's broker
A license holder is not required to provide the IABS when the license holder meets with a party who is: - Answer- Represented by another license holder
The agreement that buyer's sign allowing a broker to represent them is called a - Answer- Buyer/Tenant Representation agreement
The individual who, through a series of uninterrupted activities or actions, brought about the completion of a contract is also known as - Answer- The procuring cause of sale
Which of the following is TRUE rega [Show Less]