- Study guides, Class notes & Summaries

Seller Disclosure Laws in GA - Answer Georgia does NOT require the seller to fill out a written disclosure form or statement. That said, the law does require the seller to inform the buyer of any known defects in the condition of the home. It's not uncommon for brokers to encourage sellers to fill out a written form commonly known as a seller's disclosure statement, or property condition disclosure statement, to present to the buyer. Seller's Disclosure Statement - Answer aka property ...

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8 pages

Written in 2023/2024

Grade A+

TestSolver9

DEED - Answer The legal written document that conveys the intangible ownership rights (title) of a real estate property to another property. DEED OF TRUST - Answer A security instrument that places the deed to the property in a trust held by the lender until a mortgage is paid off, when the trustee will transfer the deed to the borrower. TRUSTEE VS TRUSTOR - Answer A trustee is an individual person given control of property in trust with a legal obligation to administer it solely for...

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15 pages

Written in 2023/2024

Grade A+

TestSolver9

When a client decides to end an agency relationship, it is called ____. a. revocation b. renunciation c. deuces d. mutual rescission - Answer a. revocation What is required for an agency relationship to form? - Answer consent of an agent and the principal Which of the following BEST describes what happens when Broker Bob signs a listing agreement with Seller Sally? - Answer A fiduciary relationship is formed A broker who enters into a Listing Agreement with a seller is consi...

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22 pages

Written in 2023/2024

Grade A+

TestSolver9

The Seller Financing Addendum allows the seller to become the: - Answer lender A seller's homeowner's insurance policy is cancelled at the time of closing. They will receive WHAT after closing for the part of their premium that was paid in advance? - Answer a refund check In Texas, the statute of limitations for specific performance of a contract for the conveyance of real property is: - Answer four years In regard to contracts, which of the following BEST describes a perform...

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4 pages

Written in 2023/2024

Grade A+

TestSolver9

Which of the following would be considered a single agent? -Answer Bobby represents a seller in a transaction Which of the following would be considered a single agent? -Answer an affiliate broker who works with a client on behalf of their sponsoring broker OR an unaffiliated licensee subagent -Answer affiliate broker who is working with a client on behalf of their sponsoring broker In which of these in-house transactions is dual agency being practiced? -Answer managing brok...

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7 pages

Written in 2023/2024

Grade A+

TestSolver9

What are the minimum services an agent must offer; - Answer According TRELA subchapter 1101.557b states a broker representing a party or listing real estate for sale is the party's agent and 1. May not instruct another broker to directly or indirectly violate the sub chpt-1101.65b22, 2.Must inform the party if the broker Receives material information related to the transaction to list, buy, sell, or lease the parties real estate, including the receipt of an offer by the broker; and 3. Sha...

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7 pages

Written in 2023/2024

Grade A+

TestSolver9

Contract - Answer A legally binding and enforceable agreement to do or not to do a specific thing Promulgated Contract - Answer A contract that has been approved and is required to be used by license holders Legally Competent - Answer an individual that has reached the age of majority (18 years of age) and has not been declared mentally incompetent by a judge Void Contract - Answer the contract has no legal effect Voidable Contract - Answer one or more of the parties has th...

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7 pages

Written in 2023/2024

Grade A+

TestSolver9

Price fixing, boycotting and redlining are violations of - Answer Federal Antitrust Laws Errors and omission insurance covers brokers and agents for - Answer mistakes made in in listing and sales activites When presenting an offer to listing agent, the buyers agent should NOT - Answer Disclose that the buyer is willing to pay more The listing broker should NOT disclose - Answer A registered sex offender lives next door One time showing agreements apply to - Answer a sp...

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6 pages

Written in 2023/2024

Grade A+

TestSolver9

John is an unlicensed real estate assistant. His boss, Broker Ben, is out of town. John holds an open house on Ben's behalf. Evaluate John's actions. - Answer It is a violation of TREC's rules for an unlicensed assistant to hold an open house What, if known, could cause a buyer or seller of real estate to take a different course of action or make a different decision regarding the property purchase? - Answer Material Facts Which of the following is NOT true about brokerage office po...

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18 pages

Written in 2023/2024

Grade A+

TestSolver9

Aceable Agent Level 1,2,3 Exam Bundle Questions and Answers(SCORED A+)

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25 items

IMORA

TREC's purpose is to -ANSWER- regulate educational and licensing programs that maintain standards AND interpret legislation that affects the real estate profession — primarily the Texas Real Estate License Act (TRELA). Integrity -ANSWER- Satisfy to the commission (TREC) that the candidate meets and exceeds their character standards (honesty, trustworthiness, and integrity). Competence -ANSWER- Demonstrate competence by passing the licensing exam. Broker: -ANSWER- An individual licens...

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11 pages

Written in 2023/2024

Grade A+

IMORA

Aceable Law of Agency Review (Q & A) Rated 100% Correct!!

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10 pages

Written in 2023/2024

Grade A+

EvaTee

ACEABLE LAW OF AGENCY REVIEW

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11 pages

Written in 2023/2024

Grade A+

GEEKA

Aceable Law of Agency Exam Review, Verified Solution Here are the four major types of agency acts: Listing Buying Leasing Property Management TREC's purpose is to regulate educational and licensing programs that maintain standards AND interpret legislation that affects the real estate profession — primarily the Texas Real Estate License Act (TRELA). Integrity Satisfy to the commission (TREC) that the candidate meets and exceeds their character standards (honesty, trustworthiness, a...

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10 pages

Written in 2023/2024

Grade A+

EXCELLENTSCORES1

Aceable Law of Agency Exam Review, Verified Solution Here are the four major types of agency acts: Listing Buying Leasing Property Management TREC's purpose is to regulate educational and licensing programs that maintain standards AND interpret legislation that affects the real estate profession — primarily the Texas Real Estate License Act (TRELA). Integrity Satisfy to the commission (TREC) that the candidate meets and exceeds their character standards (honesty, trustworthiness, a...

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10 pages

Written in 2023/2024

Grade A+

TheInstructor

Law of Agency Bundled Exams Questions and Answers Multiple Versions (2024/2025) (Complete and Accurate)

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18 items

StellarScores

Aceable Law of Agency Review Questions with Certified Solutions Here are the four major types of agency acts: Listing Buying Leasing Property Management TREC's purpose is to regulate educational and licensing programs that maintain standards AND interpret legislation that affects the real estate profession — primarily the Texas Real Estate License Act (TRELA). Integrity Satisfy to the commission (TREC) that the candidate meets and exceeds their character standards (honesty, trustworthiness,...

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25 pages

Written in 2023/2024

Grade A+

StellarScores

Aceable Law of Agency Exam Review, Verified Solution Here are the four major types of agency acts: Listing Buying Leasing Property Management TREC's purpose is to regulate educational and licensing programs that maintain standards AND interpret legislation that affects the real estate profession — primarily the Texas Real Estate License Act (TRELA). Integrity Satisfy to the commission (TREC) that the candidate meets and exceeds their character standards (honesty, trustworthiness, a...

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10 pages

Written in 2023/2024

Grade A+

EXCELLENTSCORES1

Aceable Law of Agency Review Question with complete solution 2023Here are the four major types of agency acts: Listing Buying Leasing Property Management TREC's purpose is to regulate educational and licensing programs that maintain standards AND interpret legislation that affects the real estate profession — primarily the Texas Real Estate License Act (TRELA). Integrity Satisfy to the commission (TREC) that the candidate meets and exceeds their character standards (honest...

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11 pages

Written in 2022/2023

Grade A+

flyhigher329

Aceable Law of Agency Exam Review, Verified Solution Here are the four major types of agency acts: Listing Buying Leasing Property Management TREC's purpose is to regulate educational and licensing programs that maintain standards AND interpret legislation that affects the real estate profession — primarily the Texas Real Estate License Act (TRELA). Integrity Satisfy to the commission (TREC) that the candidate meets and exceeds their character standards (honesty, trustworthiness, a...

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10 pages

Written in 2022/2023

Grade A+

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