Under TRELA, a person who acts as a real estate intermediary in a transaction without proper authorization may be subject to penalties. In Texas, what term does TRELA use for a license holder who facilitates a transaction in which the same broker represents both the buyer and seller?
Correct Answer
B) Intermediary, who must obtain written consent from both parties under specific statutory requirements
Under Texas Occupations Code §1101.559, the intermediary relationship allows a broker to facilitate a transaction where associated agents represent both the buyer and seller. The broker must obtain written consent from both parties, and specific statutory requirements govern how intermediary status is established and maintained.
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More Trela Trec Rules Questions
Under TREC rules, a trust account used by a Texas real estate broker to hold client funds must be maintained at which type of institution?
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Under TRELA, which of the following persons is NOT exempt from the Texas real estate licensing requirement?
Under TREC rules, how many hours of continuing education (CE) must a Texas real estate license holder complete during each 2-year renewal cycle?
- → Broker Henderson is approaching his license renewal deadline. He wants to take a CE course that covers changes to the TREC promulgated contract forms. Under TREC rules, would this type of course satisfy part of his CE requirement?
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- → Under TRELA, the Texas real estate licensing examination for a sales agent consists of which sections?
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