Exam Prep - State Portion IV - Trebs 2024(100% Correct!!)
5 views 0 purchase
Course
Trebs 2024
Institution
Trebs 2024
T4. When is an agent required to present a prospective seller with the Information About Brokerage Services (IABS) form?
A. When the property is sold
B. At the first substantive discussion about a specific property
C. When the seller receives the first offer on the property
D. At the closing of...
Exam Prep - State Portion IV - Trebs
2024(100% Correct!!)
T4. When is an agent required to present a prospective seller with the Information About Brokerage
Services (IABS) form?
A. When the property is sold
B. At the first substantive discussion about a specific property
C. When the seller receives the first offer on the property
D. At the closing of the sale - ANSWERSB. At the first substantive discussion about a specific property.
The Texas Real Estate Licensing Act requires the Information About Brokerage Services be given at the
first substantive discussion about a property. The agent should present the form when the seller begins
to discuss selling their property.
T4. A broker represents a seller under a listing agreement. The broker meets the potential buyer of the
property. What must the broker do?
A. Nothing
B. Disclose his agency status to the potential buyer
C. Ask the buyer to cancel his buyer representation agreement with the other broker
D. Tell the buyer that the property is overpriced - ANSWERSB. Disclose his agency status to the potential
buyer. A broker must always disclose who they represent to all parties to the transaction.
T4. Prior to entering a Buyer Representation Agreement, what document must a licensee present to the
prospective buyer?
A. Seller's Disclosure Notice
B. Exclusive Agency listing
C. Information About Brokerage Services
D. The One-to-Four Family Residential Contract (Resale) - ANSWERSC. Information About Brokerage
Services. The Texas Real Estate Licensing Act requires information be given to potential buyers, sellers,
tenants, and landlords at the first substantive dialogue about a property. TRELA states, "substantive
dialogue means a meeting or written communication that involves a substantive discussion relating to
specific real property.
, T4. Information About Brokerage Services should always be given and explained:
A. This form is never used.
B. After the contract has been signed
C. After the closing of the transaction
D. At the beginning of the listing presentation - ANSWERSD. At the beginning of the listing presentation.
The Information for Brokerage Services states that the form will be presented at the first substantive
discussion with the prospect. The listing presentation is considered substantive conversation.
T4. Information About Brokerage Services must be given to potential buyers, sellers, tenants, and
landlords:
A. At the time of first meeting
B. After the listing is taken
C. At the closing
D. At the first substantive dialogue about a property - ANSWERSD. At the first substantive dialogue about
a property. Information About Brokerage Services gives information concerning the ways a broker can
represent a person. It gives information about buyer's agency, seller's agency, intermediary, and
subagency.
T4. The Information About Brokerage Services form gives information about the broker:
A. Representing the owner or the buyer
B. Acting as a subagent
C. Acting as an intermediary
D. All of the above - ANSWERSD. All of the above. IABS gives information about all types of agency
relationships.
T4. The listing agent must give Information About Brokerage Services when the agent meets with:
A. The agent working with the buyer
B. The agent acting as a subagent
C. The buyer customer
D. The buyer client of another agent - ANSWERSC. The buyer customer. The agent must give Information
About Brokerage Services at the first substantive dialogue about real estate.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller papersmaster01. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $15.49. You're not tied to anything after your purchase.
