The term REALTORS® is a registered collective membership mark that identifies a real
estate professional _________________
who is a member of the and subscribes to its strict _______________
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National Association of REALTORS®; Code of Ethics
,Details about Fair and Accurate Credit Transactions Act of 2003 (FACTA): Every
consumer can get _______ each year at www.annualcreditreport.
com or by calling 877-322-8228.
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one free copy of their credit report
The ________ ownership entity has business asset protection (personal assets are usually
protected if the company faces debts or legal actions) while __________ ownership entity
does not have business asset protection (not personally responsible for the
company's debts beyond their investment in the corporation)
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LLC; corporation
Management styles by colors: ____________ means you are the thinker (need to know "why
things are")
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blue/purple
Four categories of leasehold estates
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, tenancy for years, periodic tenancy, estate at will, tenancy at sufferance
What are ways you may recruit agents?
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advertise on social media, use company-sponsored yard signs and
billboards, run an add in a local newspaper, sponsor a
lunch/breakfast/break at real estate school, attend career fairs, attend
industry networking events, post ads on employment search engines
During the term of the a lease, the landlord has a ______________ in the property, meaning
that possession will revert or return to him at the end of the lease.
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reversionary interest
A(n) ______ allows the seller to establish a minimum acceptable net price. The real
estate broker's commission is the difference between the minimum net established by
the seller and the price that the buyer is willing to pay but leads to potential ethical
and legal issues.
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net listings
, When the _________________, the supply is low and prices in the marketplace go up.
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demand for real estate is high
Rules to form an LLC in TX: The LLC will be deemed a professional limited liability
company if the members file _____________, stating that the company is formed for the
purpose of rendering professional services by individuals licensed in any type of
professional service that requires a condition precedent to performing such service,
for example, the obtainment of a license, certificate, or permit.
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articles of organization
What are the following procedures for termination of agent sponsorship?
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When the sponsorship of a salesperson ends, the broker shall immediately
return the salesperson's license or copy thereof to the commission or
otherwise notify the commission in writing that the sponsorship has ended.
Brokers may submit the Notice of Sales Agent Sponsorship Termination
form and a fee to TREC or visit TREC's website to terminate the sponsorship.
What are expenses that can change based on the transaction and require close
monitoring and management?
estate professional _________________
who is a member of the and subscribes to its strict _______________
Give this one a try later!
National Association of REALTORS®; Code of Ethics
,Details about Fair and Accurate Credit Transactions Act of 2003 (FACTA): Every
consumer can get _______ each year at www.annualcreditreport.
com or by calling 877-322-8228.
Give this one a try later!
one free copy of their credit report
The ________ ownership entity has business asset protection (personal assets are usually
protected if the company faces debts or legal actions) while __________ ownership entity
does not have business asset protection (not personally responsible for the
company's debts beyond their investment in the corporation)
Give this one a try later!
LLC; corporation
Management styles by colors: ____________ means you are the thinker (need to know "why
things are")
Give this one a try later!
blue/purple
Four categories of leasehold estates
Give this one a try later!
, tenancy for years, periodic tenancy, estate at will, tenancy at sufferance
What are ways you may recruit agents?
Give this one a try later!
advertise on social media, use company-sponsored yard signs and
billboards, run an add in a local newspaper, sponsor a
lunch/breakfast/break at real estate school, attend career fairs, attend
industry networking events, post ads on employment search engines
During the term of the a lease, the landlord has a ______________ in the property, meaning
that possession will revert or return to him at the end of the lease.
Give this one a try later!
reversionary interest
A(n) ______ allows the seller to establish a minimum acceptable net price. The real
estate broker's commission is the difference between the minimum net established by
the seller and the price that the buyer is willing to pay but leads to potential ethical
and legal issues.
Give this one a try later!
net listings
, When the _________________, the supply is low and prices in the marketplace go up.
Give this one a try later!
demand for real estate is high
Rules to form an LLC in TX: The LLC will be deemed a professional limited liability
company if the members file _____________, stating that the company is formed for the
purpose of rendering professional services by individuals licensed in any type of
professional service that requires a condition precedent to performing such service,
for example, the obtainment of a license, certificate, or permit.
Give this one a try later!
articles of organization
What are the following procedures for termination of agent sponsorship?
Give this one a try later!
When the sponsorship of a salesperson ends, the broker shall immediately
return the salesperson's license or copy thereof to the commission or
otherwise notify the commission in writing that the sponsorship has ended.
Brokers may submit the Notice of Sales Agent Sponsorship Termination
form and a fee to TREC or visit TREC's website to terminate the sponsorship.
What are expenses that can change based on the transaction and require close
monitoring and management?
