Texas Real Estate principles section 1
Referral - answerA recommendation by an existing or previous client that helps cultivate and
expand business is a(n):
4 - answerOf the total amount of members, the Committee has _____ members who are real
estate instructors or owners of TREC-approved real ...
Referral - answer✔✔A recommendation by an existing or previous client that helps cultivate and
expand business is a(n):
4 - answer✔✔Of the total amount of members, the Committee has _____ members who are real
estate instructors or owners of TREC-approved real estate schools.
Independent Contractor - answer✔✔An individual who chooses the method to use in completing
contracted work is a(n):
cold calling - answer✔✔What prospecting strategy entails a licensee making unsolicited calls to
individuals he or she does not know
steps - answer✔✔Changes in the real estate market occur through all of the following, except:
Be trustworthy, honest, and have integrity - answer✔✔In addition to the legal requirements, to
be eligible to get a Texas real estate sales agent or broker license, the person must also:
Limited Liability Company - answer✔✔Which of the following is a business entity that has
characteristics of both corporations and limited partnerships?
Goodwill - answer✔✔By observing the code of ethics, members of local, state, and national
trade associations promote __________ and harmony and further the interests of the real estate
industry as well as the public.
TREC - answer✔✔The __________ enforces the provisions of TRELA and determines
administrative policy.
Pay for his or her license - answer✔✔Typically, a new licensee's first expense will be to:
Real Estate Board - answer✔✔A __________ is made up of members who share an interest in
the business of real estate.
Texas Legislature - answer✔✔The __________ enacts statutes affecting the entire state, and city
councils pass local laws affecting the residents of the city.
Combats dishonesty among real estate brokers and their sales agents, requires real estate brokers
and their sales agents to have licenses, and stops fraudulent activities among real estate brokers
and their sales agents. - answer✔✔TRELA does which of the following?
Real Estate License Act - answer✔✔The __________ serves to protect the public in real estate
transactions involving a real estate license holder.
Texas Administrative Code (TAC) - answer✔✔Most of the regulations issued by Texas state
agencies are compiled in the:
using features, current inventory of homes, architectural styles - answer✔✔A real estate licensee
should be knowledgeable about __________ within the community.
$5,000 - answer✔✔TREC can pursue administrative penalties not to exceed __________ for
each violation.
Market Segmentation - answer✔✔Specific real estate markets have submarkets. __________ is
the process of identifying and analyzing submarkets within these larger markets.
Ethics - answer✔✔__________ is a set of principles or values by which an individual guides his
or her own behavior and judges that of others.
Real Estate License Act - answer✔✔License holders are required to follow the provisions of
__________ in all transactions and to deal with the public in a competent and honest manner.
cyclical - answer✔✔The relationship between demand and supply makes the real estate markets:
7 - answer✔✔Of the total amount of members, the Committee has _____ members with at least
5 years of active participation in practicing real estate.
socioeconomic status - answer✔✔Real estate ads should not have words that state or imply a
preference or limitation with regard to all the following, except:
Real Estate License Act - answer✔✔License holders are required to follow the provisions of
__________ in all transactions and to deal with the public in a competent and honest manner.
it allows a licensee to handle inquiries from walk-ins, answering phone calls, but is not as
popular due to the increase use in technology - answer✔✔All of the following are true regarding
a licensee's use of floor time
support, advice and couseling - answer✔✔Most new licensees begin their real estate career
working with a mentor. A mentor is a person providing quality:
one-third - answer✔✔Texas is the largest oil producer in the United States and has
approximately __________ of the known U.S. petroleum deposits.
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