Affiliate Broker Study guides, Class notes & Summaries

Once an agency has been terminated, the obligation of confidentiality continues forever. If a buyer signs an exclusive buyer agency agreement with real estate agent A, then purchases a property directly from real estate agent B, which of the following is TRUE? It is likely that B did not ask whether the buyer was already being represented. When two different affiliate brokers representing the same broker each have representation agreements, one with the buyer the other with the s...

Broker Person or company licensed to sell buy exchange or lease real property for others and to charge a fee for those services Salesperson (affiliate broker) Employed by or associated with the broker to perform brokerage activities on behalf of the broker Appraisal Assessing a properties market value done by an appraiser Property manager Hired to manage a property on behalf of the owner Caveat emptor Buyer beware, is the law NAR (national association of r...

Which of the following is a violation of federal fair housing law? A) A landlord refuses to rent to anyone under the age of 30. B) A private homeowner advertises a private house share using the phrase: "No minorities." C) private homeowner lives in a duplex and won't rent the other half to a pregnant woman. D) private homeowner lives in a triplex and won't rent one of the units to a family. A private homeowner advertises a private house share using the phrase: "No minorities." ...

Definition of Brokerage The bringing together of parties interested in making a real estate transaction. What is Agency? The relationship between a principal and an agent. Usually a property owner and a real estate broker. What is a Single Agency? A broker who represents only one client in a real estate transaction. What is Dual Agency? A broker who represents two opposing clients in a real estate transaction. A Disclosed Dual Agency is? Legal An Undisclos...

How long does a licensee changing affiliation have to complete required procedures with the Commission? 10 Days From whom may an affiliate broker receive compensation? From the broker he or she is affiliated with When may a licensee who has changed affiliation begin to engage in real estate transactions at the new firm? After transmitting the proper form and fees to the Commission What does an affiliate broker have to do to change affiliation from one broker to another? ...

A woman passed the affiliate broker examination and is eager to begin listing and selling homes. What can she do? Apply for a license on the forms provided by the TREC and wait to receive it. A broker has several branch offices. Which is true regarding the management? Each branch office must be under the supervision of a broker licensed at that address. To create an agency relationship, there must be a written bilateral agreement. A licensed affiliate broker wants to incl...

the type of listing contract that a seller gives to one firm yet the seller retains the right to find a buyer him/herself and not pay a commission is a(an) Exclusive agency agreement a listing broker is usually what a ________ agent. a special agent the written agreement between the broker and licensee describing the obligations and responsibilities of the relationship is called: independent contractor agreement a property manager is usually a__________ agent a general a...

Which of the following is legal advertising on a sign? "For rent by owner/agent, 555-1234," on a building owned, but not listed, by a broker. Affiliate broker Bird has been licensed for at least two years. He has just passed the state broker examination and would like to apply for a broker's license. In order to meet the requirements, he must include which of the following with his application? Proof of satisfactory completion of 120 classroom hours approved by the Commission. ...

[CH.2] (National Math) Tennessee Affiliate Broker Pre-license Course exam with 100% correct ansJohn bought an odd-shaped lot that was 100 feet deep, but the front footage was 160 feet and the length of the back side of the lot was 80 feet. What is the square footage of his lot? 12,000 SF Terry bought a home that home that had an attached one-car garage and a screened porch that spanned the length of the home. If the garage measured 16' in depth which was half the depth of the house and ...

1. Tim, a Tennessee licensee, is affiliated with principal broker Ashton. After a team meeting, Tim asked him "Why do we need to keep purchase documents and closing statements?" Ashton's response should be ______. "Tennessee law requires I keep records relating to any real estate transaction or else risk my license being revoked." 1. As part of her license renewal requirement, Tamsin must complete 16 hours of continuing education. What type of license does she hold? Affiliate broke...