SAE - Property Management (Texas) Questions and Answers | Latest Update | 2024/2025 | Already Passed

SAE - Property Management (Texas) Questions and Answers | Latest Update | 2024/2025 | Already Passed **Which statement accurately reflects real estate brokerage and property management activities in Texas?** C. Some real estate brokers do not permit their sponsored agents to engage in property management activities. **What credential must Texas agents possess to show, lease, or accept payment for soliciting property space?** Licensed **Who is defined as an individual who manages a property for another in exchange for a fee?** Property manager **In addition to prosperity, recession, and contraction, what is the fourth phase of the business cycle?** Recovery **When does equilibrium occur in the market?** When there is high supply and high demand **Which statement about real estate cycles is accurate?** A. Real estate cycles can extend beyond the duration of general economic cycles. **What term describes every method a business employs to connect with the public and enhance visibility?** Marketing **What does "place" refer to in the context of marketing?** The physical location where the product can be found. **What are the components of the traditional marketing mix, known as the Four P's?** Product, promotion, price, and place **Which type of property management structure involves dedicated managers overseeing every aspect of managed properties?** Portfolio structure **What fees are typically assessed to clients by property managers to cover provided services?** Management fees **Which approach should property managers take when budgeting for owners?** D. Property managers should be conservative on income and liberal on expenses. **What fiduciary duties does a property manager owe to property owners?** Obedience, loyalty, disclosure, confidentiality, accounting, and reasonable care **What should be included in a comprehensive property management agreement?** D. All of these: policies and procedures for property