Under the Tennessee Real Estate Broker License Act, TREC has the authority to take disciplinary action against a licensee for several reasons. Which of the following is NOT a recognized ground for disciplinary action by TREC?
Correct Answer
C) Representing a buyer and a seller in the same transaction with written consent from both parties
Representing both a buyer and a seller in the same transaction — known as dual agency — is expressly permitted under Tennessee law (Tenn. Code Ann. § 62-13-401 et seq.) when both parties provide written informed consent. This is a lawful practice in Tennessee and is NOT a ground for disciplinary action when properly disclosed and consented to.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Commingling is the illegal act of mixing client funds with a broker's personal or business operating funds, while conversion is the unauthorized use of client funds for the broker's own benefit. Both are serious violations that can result in license revocation.
Commingling is the illegal act of mixing client trust funds with a broker's personal or business operating funds; conversion is the misappropriation of those funds.
Continuing education (CE) refers to the ongoing coursework that licensed real estate professionals must complete during each renewal cycle to maintain an active license. CE ensures agents stay current with changes in laws, regulations, and industry practices.
More Practice Of Real Estate Questions
In Wyoming real estate practice, an associate broker or salesperson is not associated with a responsible broker at renewal. What should the licensee remember?
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