Which of the following has the authority to suspend or revoke a Texas real estate license?
TREC
Which of the following is an element of a listing
... [Show More] agreement?
the agreement to pay a stated commission, usually a percentage of the sales price
The seller must:
Fill out the Seller's Disclosure Notice
A real estate brokerage firm that practices buyer agency only has a lot of intermediary transactions.
false
A licensee is not liable for a misrepresentation or a concealment of a material fact made by a party to a real estate transaction if the seller did not disclose it to the agent.
true
an exemption to using the Information About Brokerage Services form is:
a lease for not more than 1 year
listings can be terminated at any time by mutual agreement
true
fiduciaries are:
Held to the highest degree of good faith, Required to exclude selfish interest, Require to make disclosures of all relevant facts
According to TREC advertising rules, the definition of advertisement includes all of the following, EXCEPT:
Communication from a licensee to his or her client
real estate agents owe certain non-fiduciary duties to customers such as:
honesty and fairness
an unlicensed assistant may:
host an open house
the best way to create an agency relationship is to do so:
in writing
a licensee must present the information about brokerage services form:
at the first substantive discussion of a possible transaction
when actions lead another person to assume that one is an agent, this is known as:
ostensible agency
listings may be terminated by:
death, insanity, mutual agreement
when one person acts for another on their behalf it is known as:
an agency relationship
Whether or not to appoint associates in an intermediary real estate transaction is:
At the discretion of the broker
In Texas, Worker's Compensation must be paid for real estate agents by brokers:
false
unlicensed assistants may:
be a transaction coordinator
a broker usually establishes buyer representation through a form known as a:
buyer representation agreement
for a broker to act as an intermediary there must be:
written consent
the real estate agent works for or on behalf of a:
client or principal
data used for a CMA should be no older than:
6 months
The Tax Equity and Fiscal Responsibility Act has which of the following tests for independent contractor status?
The salesperson signs a written contract with the broker stating the salesperson is not an employee
a termination date on a listing must be:
definite
The duty of _______ requires that the agent follow all of the lawful instructions of the client.
obedience
_______ means that, if a single agent in the firm is working with both buyer and seller, another agent in the firm needs to be brought into the transaction so appointment can be made.
Intermediary with appointments only
listings are the property of the:
broker
disclosure of representation may be:
either oral or written
The failure to remove an advertisement within a reasonable amount of time may be considered deceptive or misleading.
true
Usually, a defamation claim requires evidence of:
A false statement made to someone other than the person who is allegedly defamed, A false statement, Damage to the person allegedly defamed by a false statement
A broker is representing both sides in an in-house transaction. In this case, the broker is the:
intermediary
There can be a policies and procedures manual for a real estate agent who is an independent contractor. However,
The broker cannot require mandatory compliance
A signed employment agreement is necessary to:
sue for commission
An agent in ABC Realty has a listing that is being sold by a buyer's agent whose license is also with ABC Realty. The broker will most likely:
Appoint the associates to represent their parties under intermediary rules [Show Less]