Which of the following is a responsibility of the Tennessee Real Estate Commission?

Which of the following is required on any Tennessee real estate advertising?

What are the requirements for advertising real estate in Tennessee? You must make it clear you are a real estate agent; … The firm’s name and phone number must be placed in the ad (you can include yours as well); Everything must be honest and nothing can be misleading or deceptive.

Which entity administers and enforces laws regarding licensed real estate activities in Tennessee?

-The Tennessee Real Estate Broker License Act is the law; —the Tennessee Real Estate Commission is the enforcement.

What’s the name for someone providing general assistance to a buyer and or seller but not serving as a legal representative?

Attorney-in-Fact. A private person (who is not necessarily a lawyer) authorized by another to act in his or her place, either for some particular purpose, as to do a specific act, or for the transaction of business in general, not of legal character.

THIS IS IMPORTANT:  How do I become a real estate broker in the Philippines 2021?

What can an unlicensed property manager do in Tennessee?

An unlicensed employee, assistant, or secretary MAY:

  • Answer the phone, forward calls, and give information contained only on the listing agreement as limited by the broker.
  • Fill out and submit listings and changes to any multiple listing service.

What are the primary sources of laws and regulations governing real estate licenses in Tennessee?

What are the primary sources of laws and regulations governing real estate licensees in Tennessee? The Tennessee Real Estate License Act and the Commission rules.

How many times can you take the Tennessee real estate exam?

The passing score for one section of an examination is valid for two (2) retakes of the failed section or six (6) months, whichever comes first. The examination fee will be forfeited if the candidate does not test within six (6) months of the date their exam fee is received by PSI.

What is the difference between an affiliate broker and a real estate agent?

a broker is an agent with experience who has taken courses and passed the broker’s exam. A broker can run his or her own real estate office and supervise agents. an affiliate broker is a licensed broker who is working as an agent and not operating his or her own office.

What is the primary purpose for Agency Disclosure?

The purpose of disclosure is to explain whether the broker represents the buyer or seller or is a dual agent (representing both) or a subagent (an agent of the seller’s broker). This allows the customer to understand to which party the broker owes loyalty.

THIS IS IMPORTANT:  What is the safe harbor rule for rental property?

Which of the following is a common agency relationship?

The most common agency relationships are: Buyer’s Agency; Seller’s Agency; Dual Agency.