Trecs purpose is to Study guides, Class notes & Summaries

A seller's broker is required to tell their client any relationship they may have with the buyer. This is an example of what fiduciary duty? - disclosure The prohibition of fair housing discrimination by a licensee is described as which of the following... - Texas Real Estate License Act A real estate broker is authorized to perform which of the following? - Deal or sell options on real estate; identify properties for purchase or lease; auction off real estate. A broker will work for a cl...

Aceable Law of Agency Review (Q & A) Rated 100% Correct!!

Aceable Law of Agency Review Questions & Answers 2024 ( A+ GRADED 100% VERIFIED)

Here are the four major types of agency acts: - ANSWERSListing Buying Leasing Property Management TREC's purpose is to - ANSWERSregulate educational and licensing programs that maintain standards AND interpret legislation that affects the real estate profession — primarily the Texas Real Estate License Act (TRELA). Integrity - ANSWERSSatisfy to the commission (TREC) that the candidate meets and exceeds their character standards (honesty, trustworthiness, and integrity). Competen...

Texas Principles of Real Estate 1: Quiz Questions Special Agent - A real estate agent is an example of what type of agent...? Universal Agent General Agent Special Agent Specific Agent Market Comparison Approach - A means of comparing similar type properties, which have recently sold, to the subject property is known as the...? Cost Approach Assessment Approach Income Approach Market Comparison Approach Listing Contract - A contract in which a property owner employs a real estate br...

QUESTIONS AND ANSWERS

Real Estate U: Texas Real Estate Principles Part 1 Final Exam supply - Correct answer The amount of goods offered for sale within a given market at a given price during a given time period." "General Agent - Correct answer A property manager is an example of what type of agent?" "Special Agent - Correct answer A real estate agent is an example of what type of agent?" "Residential, Commercial, and Industrial - Correct answer The general uses of real property include the follow...

Texas Real Estate Principles 1 - Unit 1 Exam Questions and Asnswers. The Committee has _____ members appointed by the Commission. - Correct answer 12" "The __________ is a statute that is administered and enforced by the Texas Real Estate Commission (TREC), which is a state agency. - Correct answer Real Estate License Act" "A successful career in real estate requires someone to: - Correct answer be a self-started." "A peak is characterized as the __________ turning point of a...

If a real estate salesperson closes on a transaction, who pays the salesperson their commission? - answer-The salesperson's sponsoring broker A means of comparing similar type properties, which have recently sold, to the subject property is known as the? - answer-Market Comparison Approach The market comparison approach is commonly used for this property type? - answer-Residential The amount of goods offered for sale within a given market at a given price during a given time period is ...