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Exam Prep - State Portion II - Trebs 2024 verified already passed
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Exam Prep - State Portion II - Trebs 2024 verified already passed
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Exam Prep - State Portion II - Trebs 2024verified already passed
T2. According to TREC rules, when MUST you inform a seller about the market value of their home?
A. When the offer is presented
B. When the listing is taken
C. Upon first face-to-face meeting with the seller
D. TREC rules don't require you to inform the seller of the market value. - correct answer ✔✔B. When
the listing is taken. A licensee is required to tell the seller the value of their property when they take the
listing on the property. The licensee will do a Comparative Market Analysis (CMA) and tell the seller the
value of the property. A CMA is not an appraisal.
T2. A residential rental locator shall prominently display in a place accessible to clients:
A. The locator's license
B. A statement that the locator is licensed by the commission
C. Both A and B
D. A locator does not need to display license. - correct answer ✔✔C. Both A and B. The residential rental
locator (apartment locator) must display the locator's license and a statement that the locator is licensed
by TREC. The distinction is that the licenses of salespersons do not need to be "displayed" at the broker's
office. Only apartment locator's licenses need to be displayed to comply with TREC rules.
T2. An individual manages several properties for several owners. Is this person required to have a real
estate license?
A. Only if the properties are within the city limits
B. Only if the owners want him/her to market the property for sale
C. Yes
D. No - correct answer ✔✔C. Yes. A property manager who manages properties for more than one
person IS required to have a license. If the manager was managing just the owner's property and no
others, he would not have to have a real estate license.
, T2. Which of the following is required to have a Texas real estate license to sell a property in Texas?
A. A builder
B. A person licensed as a salesperson in another state
C. An attorney-in-fact
D. An owner selling his own property - correct answer ✔✔B. A person licensed as a salesperson in
another state. For example, A salesperson from Oklahoma would have to have a Texas real estate license
to practice real estate in the state of Texas. Remember also that Texas has no reciprocity with any other
state for licensing requirements.
T2. Who would NOT have to have a real estate license to practice real estate in Texas?
A. Apartment locators
B. Raw land sales person
C. An attorney from Texas
D. Timeshare salesperson - correct answer ✔✔C. An attorney from Texas. An apartment locator, a person
who sells land, and a timeshare salesperson are all required to have a real estate license to practice real
estate in Texas. An attorney licensed in Texas may do a real estate transaction without having a real
estate license.
T2. Which of the following is required to have a Texas Real Estate License in order to conduct a real
estate transaction in Texas?
A. An attorney licensed in Texas
B. A salesperson licensed in Oklahoma
C. A public official conducting transactions as his official duties
D. The on-site manager of an apartment complex - correct answer ✔✔B. A salesperson licensed in
Oklahoma. A salesperson licensed in another state is required to be licensed in Texas and have a
sponsoring Texas broker in order to do real estate transactions in Texas.
T2. Bob has decided to sell his home himself. Is he required to have a real estate license in order to
advertise his property for sale?
A. No
B. Yes
C. He may advertise in the newspaper without a real estate license, but he must have a real estate
license to advertise on the Internet.
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