CHAMPIONS SCHOOL OF REAL ESTATE LAW OF AGENCY QUESTIONS AND COMPLETE WELL EXPLAINED ANSWERS WITH RATIONALE 100% CORRECT AND VERIFIED BY EXPERTS GRADED A+ LATEST UPDATE 2024 (SUCCESS GUARANTEED]ALL YOU NEED TO PASS YOUR EXAMS

CHAMPIONS SCHOOL OF REAL ESTATE LAW OF AGENCY QUESTIONS AND COMPLETE WELL EXPLAINED ANSWERS WITH RATIONALE 100% CORRECT AND VERIFIED BY EXPERTS GRADED A+ LATEST UPDATE 2024 (SUCCESS GUARANTEED]ALL YOU NEED TO PASS YOUR EXAMS What form must an agent provide to a potential client at the first substantive discussion of a real estate transaction IABS In real estate, an example of a general agent would be a(n) _____________ property manager when an agent and potential party enter into a ____________ discussion of a real estate transaction, the party must be provided with a TREC-prescribed agency information form. First contact/orally or written substantive When acting in an intermediary transaction the broker is required to treat all parties honestly The principal is also known as client fiduciary relationship a relationship founded on trust and confidence Agency Relationship Exists when one person (the agent) acts for, or on behalf of another person (the principal). the principal is the one who hires and gives authority to the agent Texas Real Estate License Act TRELA Was passed 1939. The purpose is to protect the public against unscrupulous brokers and sales agents. Texas Real Estate Commission TREC Was created to enforce and administer TRELA in 1949. The purpose of this act is to protect the public against unscrupulous brokers and sales agents. A licensed broker may not pay a commission to or otherwise compensate a person directly or indirectly for performing an act of a broker unless the person is... a license holder or a real estate broker licensed in another state TRELA may suspend or revoke a license or take other disciplinary action if the license holder, while engaged in real estate brokerage engages in... conduct that is dishonest or in bad faith or that demonstrates untrustworthiness a broker works FOR a client a broker works WITH a customer how does a buyer become a client by entering into a buyer representation agreement with the broker Subagent 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. An agency relationship exists when one p