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Law of Agency - Champions School of Real Estate Exam 2024 $13.49   Add to cart

Exam (elaborations)

Law of Agency - Champions School of Real Estate Exam 2024

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  • Course
  • Law of Agency
  • Institution
  • Law Of Agency

The principal is also known as - client fiduciary relationship - a relationship founded on trust and confidence Agency Relationship - Exists when one person (the agent) acts for, or on behalf of another person (the principal). the principal - is the one who hires and gives authority to th...

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  • August 28, 2024
  • 12
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Law of Agency
  • Law of Agency
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Law of Agency - Champions School of
Real Estate Exam 2024



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Law
8/28/24

, Law of Agency - Champions School of Real Estate


The principal is also known as - client


fiduciary relationship - a relationship founded on trust and confidence


Agency Relationship - Exists when one person (the agent) acts for, or on
behalf of another person (the principal).


the principal - is the one who hires and gives authority to the agent


Texas Real Estate License Act TRELA - Was passed 1939. The purpose is to protect
the public against unscrupulous brokers and sales agents.


Texas Real Estate Commission TREC - Was created to enforce and administer TRELA
in 1949. The purpose of this act is to protect the public against unscrupulous brokers
and sales agents.


A licensed broker may not pay a commission to or otherwise compensate a person
directly or indirectly for performing an act of a broker unless the person is... - a license
holder or a real estate broker licensed in another state


TRELA may suspend or revoke a license or take other disciplinary action if the license
holder, while engaged in real estate brokerage engages in... - conduct that is dishonest
or in bad faith or that demonstrates untrustworthiness


a broker works FOR - a client


a broker works WITH - a customer


how does a buyer become a client - by entering into a buyer representation agreement
with the broker

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