Texas Real Estate STANDARDS OF CONDUCT Exam Study Guide with Complete Solutions
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Module
Texas Real estate
Institution
Texas Real Estate
Texas Real Estate STANDARDS OF
CONDUCT Exam Study Guide with
Complete Solutions
If a broker tells a lender that the sales price on a property is something above its actual
sales price in order to help the buyer obtain a larger loan, the - Answer️️ -broker faces
loss of license and a fine.
...
Regarding listing agreements in Texas, which of the following might result in the
suspension or revocation of an individual's real estate license? - Answer✔️✔️-no definite
termination date.
Listings must have a definite termination date not subject to prior notice.
Net listings are - Answer✔️✔️-is permitted in Texas but discouraged.
Net listings are legal but discouraged because of a potential conflict of interest. Net
listings are permitted by TREC only when the principal (1) requires a net listing and (2)
where the principal appears to be familiar with current market values. Additionally, when
negotiating any listing, net or otherwise, or even offering to purchase the property on the
licensee's own account as a result of a contact made while acting as a real estate
agent, a "licensee is obligated to advise a property owner as to the licensee's opinion of
market value of a property."
The License Act requires that every listing - Answer✔️✔️-has a definite termination date.
All listings must specify a definite period during which the broker is to be employed and
must have a definite termination date. Texas statute prohibits the use of automatic
extensions of time in listing agreements.
All of the following are violations of the Texas Real Estate Licensing Act EXCEPT
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