AYPO LAW OF AGENCY TEST WITH
VERIFIED ANSWERS [ GRADED A+]
The Original Legislation: - ✔✔The Real Estate Dealers Act of 1939
main piece of Texas law governing the licensing and behavior of real
estate professionals in the state. - ✔✔The Real Estate License Act
(TRELA)
Licensing Duties were added in: - ✔✔1955
©morren2024/2025.Year published 2024.
,Broker license was changed from 2 years in the 36 month before the
application to: - ✔✔4 Years in the 60 months before application
TREC is the agency in charge of overseeing the licensing and
professional activities of: - ✔✔-Real estate brokers
-Real estate sales agents
-Real estate inspectors
-Providers of real estate and inspection education courses
-Residential service companies
-Timeshare developers
-Easement or Right-of-Way (ERW) Agents
TREC Membership Makeup - ✔✔6 licensed real estate brokers and 3
members of the public, who are appointed by the Governor of Texas
©morren2024/2025.Year published 2024.
,Serving 6 year terms
Texas allows net listings with a limit on the percentage over the
principal's required minimum. Currently, the percentage is capped at: -
✔✔15%.
How agency is formed - ✔✔An agency relationship is formed when one
person or group of people employ another person or group to perform
actions on behalf of the first person or group. If a person moving into a
new house hires a moving company to transport his or her furniture, an
agency relationship has been formed.
Property owners and real estate agents create what kind of
relationship? - ✔✔Property owners and real estate agents create
©morren2024/2025.Year published 2024.
, The broker decides that this is too big a task to handle alone and
decides to assign different sales agents, who effectively work as agents
for the broker, to each half of the project. The sales agents are - ✔✔De
Facto Agents
Customers or Clients? - ✔✔What really defines whether someone is a
customer or a client is whether a contractual agreement exists between
a real estate professional and that person.
Client - ✔✔Someone who has formed a contractual agreement-
Fiduciary duties are owed
Broker Licensee - ✔✔The broker licensee is the person who possesses a
real estate broker's license from the Texas Real Estate Commission.
©morren2024/2025.Year published 2024.
VERIFIED ANSWERS [ GRADED A+]
The Original Legislation: - ✔✔The Real Estate Dealers Act of 1939
main piece of Texas law governing the licensing and behavior of real
estate professionals in the state. - ✔✔The Real Estate License Act
(TRELA)
Licensing Duties were added in: - ✔✔1955
©morren2024/2025.Year published 2024.
,Broker license was changed from 2 years in the 36 month before the
application to: - ✔✔4 Years in the 60 months before application
TREC is the agency in charge of overseeing the licensing and
professional activities of: - ✔✔-Real estate brokers
-Real estate sales agents
-Real estate inspectors
-Providers of real estate and inspection education courses
-Residential service companies
-Timeshare developers
-Easement or Right-of-Way (ERW) Agents
TREC Membership Makeup - ✔✔6 licensed real estate brokers and 3
members of the public, who are appointed by the Governor of Texas
©morren2024/2025.Year published 2024.
,Serving 6 year terms
Texas allows net listings with a limit on the percentage over the
principal's required minimum. Currently, the percentage is capped at: -
✔✔15%.
How agency is formed - ✔✔An agency relationship is formed when one
person or group of people employ another person or group to perform
actions on behalf of the first person or group. If a person moving into a
new house hires a moving company to transport his or her furniture, an
agency relationship has been formed.
Property owners and real estate agents create what kind of
relationship? - ✔✔Property owners and real estate agents create
©morren2024/2025.Year published 2024.
, The broker decides that this is too big a task to handle alone and
decides to assign different sales agents, who effectively work as agents
for the broker, to each half of the project. The sales agents are - ✔✔De
Facto Agents
Customers or Clients? - ✔✔What really defines whether someone is a
customer or a client is whether a contractual agreement exists between
a real estate professional and that person.
Client - ✔✔Someone who has formed a contractual agreement-
Fiduciary duties are owed
Broker Licensee - ✔✔The broker licensee is the person who possesses a
real estate broker's license from the Texas Real Estate Commission.
©morren2024/2025.Year published 2024.
