Which of the following is a duty of the real estate Commissioner?
Which of the following is a duty of the real estate Commissioner?
The Commissioner grants or denies licenses, issues rules governing licenses, and enforces the license law. The Real Estate Commissioner is appointed by the Governor.
What are the typical duties of a real estate agent?
Real Estate Agent Responsibilities
- Generate client leads to buy, sell, and rent a property.
- Counsel clients on market conditions, prices, and mortgages.
- Develop a competitive market price by comparing properties.
- Create lists for real estate sale properties, with information location, features, square footage, etc.
What is TREC’s responsibility?
The TREC is a Texas state agency that oversees the licensing of real estate brokers and agents. Founded in 1949, this entity works to protect consumers and educate professionals involved in real estate transactions.
Which statement is true regarding a broker’s commission in a real estate transaction?
Which statement is true regarding a broker’s commission in a real estate transaction? The commission must be stated in the listing agreement and is set by the broker.
What is secret profit in real estate?
A financial benefit an agent takesfrom a transaction without authorization fromthe principal, nor informing the principal of thebenefit retained.
What should a real estate professional do if it appears a seller is looking for a non minority buyer?
Who can file a discrimination complaint? Why are the phrases “non-smoking” or “sober” acceptable to use and not considered discriminatory? What should a real estate professional do if it appears a seller is looking for a non-minority buyer? a) The agent should just ignore the seller.
What are the three primary areas of disclosure?
Angela covers the final three primary areas of disclosures for public companies: significant judgments, contract balances, and cost to obtain or fulfill a contract.
What is false promise in real estate?
False Promise. Making a promise likely to include/persuade. Guaranteeing a profit that doesn’t occur could subject a broker to civil penalties and disciplinary action. Fiduciary Relationship.
What is an antitrust violation in real estate?
An antitrust law designates what activities are not authorized for real estate agents. These include: price fixing – agreeing to charge the same commission between brokerages. bid rigging – when auction buyers work together to lower purchase prices, group boycotts – avoiding certain buyers or real estate agents.
What is TRE certificate?
TRE Certificate means a Trading Right Entitlement (TRE) Certificate issued by the Exchange evidencing right of a TRE Certificate Holder to apply for registration as a Broker in accordance with the Brokers and Agents Registration Rules, 2001 as amended from time to time; Sample 1.
