Texas Real Estate Paper 18

1

A broker agrees to represent the seller in the sale of a property. The listing contract states that the broker will receive a fee of $15,000 from the seller at closing, regardless of the sales price. Is this a valid form of compensation?






2

Which of the following are protected classes under Fair Housing laws?






3

Real estate agents are licensed by






4

Real estate salespersons are most likely to work as






5

The main obligation the principal owes a real estate agent is






6

Both buyer and seller must consent to the agent’s role in the transaction so that they know






7

Ken Laughton’s house is “for sale by owner.” Robert Hall falls in love with it during an open house, tells Ken he will pay the full asking price, and promises to send Ken an earnest money check for $5,000. Ken accepts the offer. The contract between them is






8

The Smiths offer to buy the Browns’s house for $125,000, with the closing scheduled for June 15. The Browns sign a written acceptance, with the provision that the closing is to be on June 16. At this point, which of the following can occur?






9

Consideration to bind a contract may be in the form of






10

A buyer hired an attorney and sued a seller for specific performance because the seller refused to close according to the agreement. This means that the buyer wants






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