Chap 1
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| Agency | show 🗑
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| General Agency | show 🗑
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| show | Perseving value of an incestment while generating income -liable and accountable for all actions of the agent
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| show | 1. securing tenants 2.collecting rents 3.caring forthe premises 4.budgeting and controlling expenses 5.hiring and supervising employees 6.keeping proper accounts 7.making periodic reports
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| show | Broad Range of authority -act as principle -rare in real estate -ex. (power of attonery over child) -universal agent is allowed to perform all actions that may be legallly carried out by an agent
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| 3 types of agency and what are the factors that determine them | show 🗑
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| 2 key points to an agency | show 🗑
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| client | show 🗑
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| show | 1.securing listings from sellers and landlords
2.securing buyer representation agreements brom buyers and tenants
3.marketing listed properties
4.showing properties to buyers
5.perparing offers
6.negotiating offers
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| Broker responisibilites on part of his associates | show 🗑
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| show | 1.timely renewal of license
2.completion of continuing education requirements
3/adequate oppurtunies for generating income
4. company car, health insurance, vacation,or disability benefits
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| Speical Agency | show 🗑
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| show | IN WRITING express authority principle to agent
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| implied authority | show 🗑
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| show | actions misleading your an agent
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| show | occurs when an acgents acts without prior authority, and the pricipal upon learning accepts it
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| agency by estoppel | show 🗑
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| show | broker is owner of prop. being sold or when broker is interested buying prop.
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| show | 1. A listing side where the seller retains the services of a broker 2. A selling side where the buyer retains the services of a broker. The agent working with the buyer is referred to as the selling agent.
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| When a property is sold by a brokerage firm, two possibilities exist: | show 🗑
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| HOW IS COMISSION CREATED | show 🗑
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| show | when one firm sells a property listed by another firm to a buyer that they are not representing, the selling firm represents the seller in a
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| subagency relationship two conditions must both be met: | show 🗑
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| show | A person licensed by the Texas Real Estate Commission (TREC) to act as a broker or salesperson in a real estate transaction.
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| show | 1) A broker who represents a seller, landlord, buyer or tenant. (2) Salesperson or broker licensees who represent the broker with whom they are associated.
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| Subagent | show 🗑
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| show | 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 buyer’s under an agency agreement. Also known as the other broker.
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| Broker licensee | show 🗑
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| Salesperson licensee | show 🗑
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| show | broker associated with and conducting all of his or her business as an agent of another broker
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| 8. Sales Associate | show 🗑
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| Seller’s Agent | show 🗑
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| show | A broker representing the buyer in a real estate transaction. Also referred to as a Buyer’s Broker, Selling Broker, or Selling Agent.
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| Landlord’s Agent | show 🗑
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| Tenant’s Agent | show 🗑
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| show | sometimes called a principal, who engages the professional advice or services of another, called an agent, and whose interests are protected by the specific duties and loyalties of an agency relationship.
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| Customer | show 🗑
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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Created by:
aberry181