REPRESENT WITH INTEGRITY, PASS
WITH A+: 2026 TEXAS AGENCY LAW
CHAMPION’S GUIDE
If a broker has more than one place of business...What is
required for each office? - THE CORRECT ANSWER-branch office
license is required for each location/not necessary to have a
licensed broker at each location
Federal law dictates that commissions are a matter of
__________________________ - THE CORRECT ANSWER-
Negotiations
When dealing with a customer, the broker has duties of
___________________________________________
_. - THE CORRECT ANSWER-disclosure, honesty, fairness and
competency
A seller becomes a client by entering into a
___________________ with the broker - THE CORRECT ANSWER-
listing agreement
A buyer becomes a client by entering into a
___________________________ agreement with the
broker. - THE CORRECT ANSWER-buyer representation
,License holder - THE CORRECT ANSWER-A person licensed by the
Texas Real Estate Commission (TREC) to act as a broker or
sales agent in a real estate transaction.
Subagent - THE CORRECT ANSWER-A license holder not associated
with the seller's broker, but who is representing the seller
through a cooperative agreement, often through membership in
a Multiple Listing Service (MLS), with the seller's broker.
Cooperative Broker - THE CORRECT ANSWER-A broker selling the
listing of another broker. A cooperative broker may complete
the transaction as a subagent of the listing broker, or may
represent the buyers under an agency agreement; he also
known as the other broker
Broker license holder - THE CORRECT ANSWER-An individual holding
a broker's license issued by TREC. Brokers may act
independently in conducting real estate transactions, or may
engage other broker or sales agent license holders to represent
them in the conduct of their real estate business
Sales agent license holder - THE CORRECT ANSWER-An individual
holding a license issued by TREC an agent of the sponsoring
broker. He or she may conduct business only through his or her
sponsoring broker
Broker Associate - THE CORRECT ANSWER-A broker associated with
and conducting all of his or her business as an agent of another
broker
, Sales Associate - THE CORRECT ANSWER-A sales agent or broker
license holder associated with and conducting business as an
agent of his or her sponsoring broker
Seller's Agent - THE CORRECT ANSWER-A broker representing the
seller in a real estate transaction, also referred to as a Seller's
Broker, Listing Broker, or Listing Agent
Buyer's Agent - THE CORRECT ANSWER-A broker representing the
buyer in a real estate transaction, also referred to as a Buyer's
Broker, Selling Broker, or Selling Agent.
Landlord's Agent - THE CORRECT ANSWER-A broker representing a
landlord in a real estate transaction
Tenant's Agent - THE CORRECT ANSWER-A broker representing a
tenant in a real estate transaction
License holders have two levels of responsibility - THE CORRECT
ANSWER-Public/Fiduciary
Duties to Customer - THE CORRECT ANSWER-a. Honesty
b. Disclosure of material facts
c. Handle all funds with care
d. Be responsible for written or oral statements
Duties to Client - THE CORRECT ANSWER-a. Put the interests of the
client rst
WITH A+: 2026 TEXAS AGENCY LAW
CHAMPION’S GUIDE
If a broker has more than one place of business...What is
required for each office? - THE CORRECT ANSWER-branch office
license is required for each location/not necessary to have a
licensed broker at each location
Federal law dictates that commissions are a matter of
__________________________ - THE CORRECT ANSWER-
Negotiations
When dealing with a customer, the broker has duties of
___________________________________________
_. - THE CORRECT ANSWER-disclosure, honesty, fairness and
competency
A seller becomes a client by entering into a
___________________ with the broker - THE CORRECT ANSWER-
listing agreement
A buyer becomes a client by entering into a
___________________________ agreement with the
broker. - THE CORRECT ANSWER-buyer representation
,License holder - THE CORRECT ANSWER-A person licensed by the
Texas Real Estate Commission (TREC) to act as a broker or
sales agent in a real estate transaction.
Subagent - THE CORRECT ANSWER-A license holder not associated
with the seller's broker, but who is representing the seller
through a cooperative agreement, often through membership in
a Multiple Listing Service (MLS), with the seller's broker.
Cooperative Broker - THE CORRECT ANSWER-A broker selling the
listing of another broker. A cooperative broker may complete
the transaction as a subagent of the listing broker, or may
represent the buyers under an agency agreement; he also
known as the other broker
Broker license holder - THE CORRECT ANSWER-An individual holding
a broker's license issued by TREC. Brokers may act
independently in conducting real estate transactions, or may
engage other broker or sales agent license holders to represent
them in the conduct of their real estate business
Sales agent license holder - THE CORRECT ANSWER-An individual
holding a license issued by TREC an agent of the sponsoring
broker. He or she may conduct business only through his or her
sponsoring broker
Broker Associate - THE CORRECT ANSWER-A broker associated with
and conducting all of his or her business as an agent of another
broker
, Sales Associate - THE CORRECT ANSWER-A sales agent or broker
license holder associated with and conducting business as an
agent of his or her sponsoring broker
Seller's Agent - THE CORRECT ANSWER-A broker representing the
seller in a real estate transaction, also referred to as a Seller's
Broker, Listing Broker, or Listing Agent
Buyer's Agent - THE CORRECT ANSWER-A broker representing the
buyer in a real estate transaction, also referred to as a Buyer's
Broker, Selling Broker, or Selling Agent.
Landlord's Agent - THE CORRECT ANSWER-A broker representing a
landlord in a real estate transaction
Tenant's Agent - THE CORRECT ANSWER-A broker representing a
tenant in a real estate transaction
License holders have two levels of responsibility - THE CORRECT
ANSWER-Public/Fiduciary
Duties to Customer - THE CORRECT ANSWER-a. Honesty
b. Disclosure of material facts
c. Handle all funds with care
d. Be responsible for written or oral statements
Duties to Client - THE CORRECT ANSWER-a. Put the interests of the
client rst
