TX Real Estate Law of Agency –
Champions Answered 2023
an exemption to using the IABS form
a lease that is not more than 1 year
when on person, the agent, acts for or on behalf of another person, the principal, aka the
client, it is known as
an agency relationship.
if the prinicipal, client, is not cooperating with the broker's/agent's efforts to market the
property, the broker
has the right to terminate an agency agreement early
an agent has a listing with a seller and has a buyer's representation agreement signed with
a buyer who desires to purchase this agents listening. the agent is operating as
_____________
a non-appointed associate in an intermediary relationship. AKA intermediary with
an example of how the IRS rule on independent contractor status could be violated
your company sends out a memo that there is a mandatory sales meeting this week for agents
the IABS should be presented
when the first substantive discussion of a real estate transaction takes place
the timing of ______________ and paperwork is very important
disclosures
who has the authority to suspend/revoke a TX license
TREC has the authority
the agreement to pay a stated commission, usually a percentage of the sales price, is an
elemant of _____________
a listing agreement
IRS considers when a sales agent _________________ as violations of independent
contractor status
, A sales agent is told to work set hours, guaranteed a monthly minimum wage, and has his
licensing fees paid by the broker. are all considered violations
the ___________________ , authorizes intermediary, authorizes the buyer to give the agent
complete loyalty, and establishes an exclusive market area
the TAR buyer rep agreement
an agent is not liable for misrepresenation or concealment of material fact by a party if
___________________, is an amendment in ____________________ to the
________________?
if the license holder did not know of the falsity of the misrepresentation he/she is not liable, that
was an amended in 1996 to the License Act
subagent
a license holder not associated with the client's broker, but who is representing the client through
a cooperative agreement with the client's broker
a real estate brokerage firm that practices buyer agency only does not practice
_________________
intermediary
a _____________ agent has less authority than a ___________ agent
general agent has less authority than a universal agent
listings can be terminated at any time by______________
mutual agreement
true or false, real estate brokers must provide workers compensation to sponsored agents?
false
true or false, real estate brokers are exempt from providing workesr comp to sponsored
agents
true
true or false, the texa workforce commission investigates allegations of discrimination
true
the real estate agent works for or on behalf of a _________________
client, principle
the failure to remove an advertisement within a reasonable amount of time may be
considered _________________ or misleading
Champions Answered 2023
an exemption to using the IABS form
a lease that is not more than 1 year
when on person, the agent, acts for or on behalf of another person, the principal, aka the
client, it is known as
an agency relationship.
if the prinicipal, client, is not cooperating with the broker's/agent's efforts to market the
property, the broker
has the right to terminate an agency agreement early
an agent has a listing with a seller and has a buyer's representation agreement signed with
a buyer who desires to purchase this agents listening. the agent is operating as
_____________
a non-appointed associate in an intermediary relationship. AKA intermediary with
an example of how the IRS rule on independent contractor status could be violated
your company sends out a memo that there is a mandatory sales meeting this week for agents
the IABS should be presented
when the first substantive discussion of a real estate transaction takes place
the timing of ______________ and paperwork is very important
disclosures
who has the authority to suspend/revoke a TX license
TREC has the authority
the agreement to pay a stated commission, usually a percentage of the sales price, is an
elemant of _____________
a listing agreement
IRS considers when a sales agent _________________ as violations of independent
contractor status
, A sales agent is told to work set hours, guaranteed a monthly minimum wage, and has his
licensing fees paid by the broker. are all considered violations
the ___________________ , authorizes intermediary, authorizes the buyer to give the agent
complete loyalty, and establishes an exclusive market area
the TAR buyer rep agreement
an agent is not liable for misrepresenation or concealment of material fact by a party if
___________________, is an amendment in ____________________ to the
________________?
if the license holder did not know of the falsity of the misrepresentation he/she is not liable, that
was an amended in 1996 to the License Act
subagent
a license holder not associated with the client's broker, but who is representing the client through
a cooperative agreement with the client's broker
a real estate brokerage firm that practices buyer agency only does not practice
_________________
intermediary
a _____________ agent has less authority than a ___________ agent
general agent has less authority than a universal agent
listings can be terminated at any time by______________
mutual agreement
true or false, real estate brokers must provide workers compensation to sponsored agents?
false
true or false, real estate brokers are exempt from providing workesr comp to sponsored
agents
true
true or false, the texa workforce commission investigates allegations of discrimination
true
the real estate agent works for or on behalf of a _________________
client, principle
the failure to remove an advertisement within a reasonable amount of time may be
considered _________________ or misleading
