Trela s - Study guides, Class notes & Summaries

Law of Agency Chapter 1 Latest Update Graded A One person acting on behalf of another is An agency relationship Which entity may act independently in conducting a real estate transaction? Broker Agents must act in the best interest of the parties they represent In which of the following situations might an unintended agency relationship be formed? A broker representing a seller provides a customer advice on making an offer. unlike an agent, a fiduciary handles money, property for the client ...

Real estate agents are considered to have which kind relationship with clients? - correct answer-A fiduciary relationship Acting as which of the following is a violation of The Real Estate License Act? - correct answer-Acting as a broker without possessing a valid license issued by the Texas Real Estate Commission Which of the following is a reason to study the aspects of agency and agency law? - correct answer-1. Agents who are well versed in the aspects of the agency roles can project an...

TRELA changed from REDLA - correct answer Texas legislature passed the Real Estate Dealer's License Act (REDLA), which required real estate agents to obtain licenses. KEY CONCEPT This act was administered by the Secretary of State until 1949 when the Texas Real Estate Commission (TREC) assumed the administrative responsibilities associated with it. In 1949, the REDLA was changed into the Texas Real Estate License Act (TRELA) Contract law is based on the principle expressed in the Latin phras...

ACEABLE REAL ESTATE PRINCIPALS 1 EXAM PRACTICE TEST WITH COMPLETE SOLUTIONS A married couple purchased a primary residence for $600,000 in 2015. They lived there for seven years. In 2022, they sold the property for $1,000,000. How much profit will they owe capital gains tax on? -answer0 What is a REALTOR®? -answera member of the National Association of Realtors®. Which of the following is NOT a category of the NAR® Code of Ethics? -answerDuties to lenders Select the statement that de...

Texas Promulgated Contract Forms: Mini-Quizzes | All Answered with Complete Verified Solutions 2023/2024 Performance The execution of a contract by which the contracting parties are automatically discharged of their obligations under it is known as...? All of the above Which of the following is an example of consideration...? - Money - Personal services - Cash - All of the above Statute of Frauds A State law requiring certain contracts to be in writing and signed before they will b...

Champions Real Estate - Principles 1 Exam 2024 Practice Questions and Answers brokerage - ANSWER-the aspect of the real estate business that pertains to overseeing the needs of the parties and completing a transaction; a brokerage transaction may or may not involve agency relationships The role of a property manager - ANSWER-Generally responsible for the day to day operations of the property, maintenance, and tenant relations How are home inspectors licensed? - ANSWER-Home inspectors are...

Principles Of Real Estate Practice Exam 1 With 100% Correct And Verified Answers

Texas Promulgated Contract Forms: Mini-Quizzes | All Answered with Complete Verified Solutions 2023/2024 Performance The execution of a contract by which the contracting parties are automatically discharged of their obligations under it is known as...? All of the above Which of the following is an example of consideration...? - Money - Personal services - Cash - All of the above Statute of Frauds A State law requiring certain contracts to be in writing and signed before they will b...

brokerage the aspect of the real estate business that pertains to overseeing the needs of the parties and completing a transaction; a brokerage transaction may or may not involve agency relationships The role of a property manager Generally responsible for the day to day operations of the property, maintenance, and tenant relations How are home inspectors licensed? Home inspectors are licensed in Texas by TREC. Real Estate Development most often involves the acquisition ...

Champions Real Estate Exam Prep (Texas) | 100% Correct Answers | Verified | Latest 2024 Version In ______ the Texas Real Estate Commission was established to administer and enforce the TRELA. - 1949 TREC has only _______ promulgated lease forms. - 2 promulgated form 공포된 양식 In the TAR® Seller's Disclosure the seller should _______. a. prepare the disclosure when the listing is taken b. be the only one completing this form or any part of it c. none of the above d. both a and...