Texas Real Estate Exam (State Portion): Agency/Brokerage Questions and Answers well Explained Latest 2024/2025 Update 100% Correct.
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Course
Texas Real Estate : Agency/Bro
Institution
Texas Real Estate : Agency/Bro
Broker-Salesperson Relationship - RE broker responsible to commission, members of public, and
broker clients for all acts by broker or salesperson
No salesperson shall accept compensation from anyone but sponsoring broker
vicarious liability- 1995 limits to licensee ability through TRELA amendme...
Texas Real Estate Exam (State Portion):
Agency/Brokerage
Broker-Salesperson Relationship - RE broker responsible to commission, members of public, and
broker clients for all acts by broker or salesperson
No salesperson shall accept compensation from anyone but sponsoring broker
vicarious liability- 1995 limits to licensee ability through TRELA amendment- licensee not liable for
misrepresentation/concealment unless they knew of falsity and failed to disclose
Enforcing Compensation Agreement - action for collection of compensation ONLY if proof of
licensed broker/salesperson at time of service or licensed atty; both parties must give consent to dual
compensation
action may not be brought in court unless promise agreement was in writing and signed by party to be
charged
offer to purchase is signed, purchaser advised in writing to have abstract covering property examined by
atty or be furnished with title insurance policy
Appropriate Use of Unlicensed Asst. - NO REAL ESTATE SERVICES PERMITTED
can: sit at open house as hostess but may NOT point out features of property, set appointments, drive
purchaser to property, place for sale signs on property, office administration/ personal matters,
bookkeeping, financing under licensee, non real estate activities
Broker as Intermediary MUST - treat all parties honestly, not disclose acceptance of lower price
unless authorized in writing, not disclose buyer will pay higher price unless authorized in writing, not
disclose confidential information unless authorized in writing, comply with TRELA
Death - No duty to disclose if prior occupant died UNLESS from property condition
Disclosure - licensee representing a party shall disclose, either written or oral, representation
during first contact with another party/licensee representing that party
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