ACCURACY IS GUARANTEED
TX-Brokerage (SAE) Questions with Detailed
Verified Answers for Accuracy
The _____ is required to ascertain that Brokers are aware of
all of their responsibilities.
✓✓ Texas Real Estate Commission
The _____ course is to address the regulatory aspects of the
management, operation and supervision of a real estate
brokerage firm in Texas. The course provides an understanding
and working knowledge of a broker's responsibilities and
obligations under 22 TAC §535.2.
✓✓ Broker Responsibility MCE
Who Must Take The Broker Responsibility MCE Course?
✓✓ A broker who sponsors salespersons, a designated broker
of a business entity, and a license holder who is a delegated
supervisor of one or more license holders (for six months or
more during the supervisor's current license period), to
complete this six—hour broker responsibility course to renew a
license.
"Act of God"
✓✓ A natural disaster or fire
Broker must, at a minimum, maintain the following records in
a format that is readily available to the Commission for at least
____ years from the date of closing, termination of the
contract, or end of a real estate transaction
, ACCURACY IS GUARANTEED
✓✓ 4
Recruitment of a salesperson by a broker is not regulated with
the exception that instructors or other persons associated with
a ___ may NOT recruit or solicit prospective salespersons or
brokers in a classroom during class time
✓✓ School
There is no provision in the Act or the TREC Rules prohibiting
a broker from _____ a salesperson or broker—associate
affiliated with another broker.
✓✓ Recruiting
________ are exempt from any of the provisions of the Texas
Real Estate License Act. They are permitted to represent clients
in real estate transactions by virtue of their license to practice
law.
✓✓ Attorneys
Brokers CANNOT share their fees with attorneys who perform
a brokerage service, attorneys must seek compensation for that
service directly from one of the ______ in a transaction
✓✓ Principals
Can a listing broker share a portion of the listing broker's
commission with an attorney who represented the buyer in a
real estate transaction?
, ACCURACY IS GUARANTEED
✓✓ No. A broker is prohibited from sharing fees with or
otherwise compensating the attorney acting as a buyer's agent
unless the attorney holds an active real estate license.
Is a link to the IABS form required on my website?
✓✓ Yes. Rule 531.20(b) states that each broker and sales agent
must provide a link on its homepage to the IABS Form labeled
"Texas Real Estate Commission Information About Brokerage
Services".
IABS link must be in at least a ______ point font and in a
readily noticeable place on the homepage of the business
website of the broker and sales agent.
✓✓ 10
Does a link to the IABS Form in my email signature satisfy the
representation disclosure required by TRELA §1101.558?
✓✓ No. Rule 531.20(d) states that providing a link to the IABS
Form in a footnote or signature block of an email is insufficient
The IABS Form can be provided by:
✓✓ (1) personal delivery; (2) first class mail or overnight
common carrier delivery service; (3) in the body of an email; or
(4) as an attachment to an email or as a link in the body of an
email so long as there is a specific reference to the IABS Form
in the body of the email.
Reasons people give for wanting to open their own Brokerage:
, ACCURACY IS GUARANTEED
✓✓ Wanting to create something from scratch, Wanting to be
their own boss, Wanting to train and motivate real estate agents
to be successful, Wanting to be leader in their community or in
the industry, An entrepreneurial spirit
Two good resources for finding past statistic for the real estate
industry are
✓✓ The National Association of REALTORS® and the Real
Estate Center at Texas A&M University.
The _______ indicates the strength of the economy.
✓✓ Gross domestic product or GDP
Most good economies have a GDP of about _____
✓✓ 3%
A new broker will need a good real estate attorney and a good
_____ on their team.
✓✓ Certified public accountant (CPA)
The Rules of the Texas Real Estate Commission require that a
Broker have a_______ before you start hiring agents
✓✓ Policy and Procedures Manual
Policy and Procedures Manual must include
TX-Brokerage (SAE) Questions with Detailed
Verified Answers for Accuracy
The _____ is required to ascertain that Brokers are aware of
all of their responsibilities.
✓✓ Texas Real Estate Commission
The _____ course is to address the regulatory aspects of the
management, operation and supervision of a real estate
brokerage firm in Texas. The course provides an understanding
and working knowledge of a broker's responsibilities and
obligations under 22 TAC §535.2.
✓✓ Broker Responsibility MCE
Who Must Take The Broker Responsibility MCE Course?
✓✓ A broker who sponsors salespersons, a designated broker
of a business entity, and a license holder who is a delegated
supervisor of one or more license holders (for six months or
more during the supervisor's current license period), to
complete this six—hour broker responsibility course to renew a
license.
"Act of God"
✓✓ A natural disaster or fire
Broker must, at a minimum, maintain the following records in
a format that is readily available to the Commission for at least
____ years from the date of closing, termination of the
contract, or end of a real estate transaction
, ACCURACY IS GUARANTEED
✓✓ 4
Recruitment of a salesperson by a broker is not regulated with
the exception that instructors or other persons associated with
a ___ may NOT recruit or solicit prospective salespersons or
brokers in a classroom during class time
✓✓ School
There is no provision in the Act or the TREC Rules prohibiting
a broker from _____ a salesperson or broker—associate
affiliated with another broker.
✓✓ Recruiting
________ are exempt from any of the provisions of the Texas
Real Estate License Act. They are permitted to represent clients
in real estate transactions by virtue of their license to practice
law.
✓✓ Attorneys
Brokers CANNOT share their fees with attorneys who perform
a brokerage service, attorneys must seek compensation for that
service directly from one of the ______ in a transaction
✓✓ Principals
Can a listing broker share a portion of the listing broker's
commission with an attorney who represented the buyer in a
real estate transaction?
, ACCURACY IS GUARANTEED
✓✓ No. A broker is prohibited from sharing fees with or
otherwise compensating the attorney acting as a buyer's agent
unless the attorney holds an active real estate license.
Is a link to the IABS form required on my website?
✓✓ Yes. Rule 531.20(b) states that each broker and sales agent
must provide a link on its homepage to the IABS Form labeled
"Texas Real Estate Commission Information About Brokerage
Services".
IABS link must be in at least a ______ point font and in a
readily noticeable place on the homepage of the business
website of the broker and sales agent.
✓✓ 10
Does a link to the IABS Form in my email signature satisfy the
representation disclosure required by TRELA §1101.558?
✓✓ No. Rule 531.20(d) states that providing a link to the IABS
Form in a footnote or signature block of an email is insufficient
The IABS Form can be provided by:
✓✓ (1) personal delivery; (2) first class mail or overnight
common carrier delivery service; (3) in the body of an email; or
(4) as an attachment to an email or as a link in the body of an
email so long as there is a specific reference to the IABS Form
in the body of the email.
Reasons people give for wanting to open their own Brokerage:
, ACCURACY IS GUARANTEED
✓✓ Wanting to create something from scratch, Wanting to be
their own boss, Wanting to train and motivate real estate agents
to be successful, Wanting to be leader in their community or in
the industry, An entrepreneurial spirit
Two good resources for finding past statistic for the real estate
industry are
✓✓ The National Association of REALTORS® and the Real
Estate Center at Texas A&M University.
The _______ indicates the strength of the economy.
✓✓ Gross domestic product or GDP
Most good economies have a GDP of about _____
✓✓ 3%
A new broker will need a good real estate attorney and a good
_____ on their team.
✓✓ Certified public accountant (CPA)
The Rules of the Texas Real Estate Commission require that a
Broker have a_______ before you start hiring agents
✓✓ Policy and Procedures Manual
Policy and Procedures Manual must include
