Chapter 12

If the broker has done nothing to market the property, the seller may be able to terminate the listing due to

The answer is abandonment by the broker.

A listing contract is

The answer is a contract of employment.

The governing body of a municipality or county has undertaken an improvement project, such as landscaping, erecting fountains, or installing special lighting, that benefits a definable part of the community. In turn, the owners of those properties pay an annual assessment to cover the costs and maintenance. If a property being sold is subject to such an assessment, the purchaser must be given

The answer is a notice of obligations related to public improvement district (PID).

Which of these is considered telemarketing?

The answer is all of these. Any kind of sales effort by use of electronic means is considered telemarketing under Texas law. Rules for print or verbal statements are covered elsewhere in the regulations.

If a seller believes—but is not certain—that a friend wants to buy his house, what kind of agreement should he sign with a broker?

The answer is an exclusive agency listing.

When taking listing information, why must sales agents be careful what they write about such facilities as churches and schools?

The answer is because of fair housing laws.

Which is a similarity between an exclusive agency listing and an exclusive right-to-sell listing?

The answer is both employ one broker only.

Open listings can be used for any property, but MOST often are found where?

The answer is commercial/industrial properties

Penalties for violating do-not-call regulations may be

The answer is fines up to $11,000 per call, or $16,000 if made from a robocall system.

Under Texas law, real estate agents are permitted to call individuals on the do-not-call list if they have had a previous business relationship with the person, have received permission to call the person, or

The answer is if the call is personally dialed and is not, in itself, an attempt to sell a property over the phone.

In what kind of listing is information shared with other brokers?

The answer is multiple.

The amount of commission is determined by

The answer is negotiation between the seller and the broker.

Do you have to be a licensed real estate broker or sales agent to sell real estate in Texas?

The answer is no, an unlicensed friend, neighbor, or even stranger can sell property but may not be compensated for the services.

If there is a known sex offender in a neighborhood, is the seller obligated to disclose it?

The answer is no. Under Texas law, sellers and sales agents are not obligated to disclose the presence of sex offenders. Buyers and their agents, however, are free to check websites to learn that information on their own

When must the broker or the sales agent give the seller the Information About Brokerage Services form that explains agency positions?

The answer is on the first substantive dialogue with the seller.

If a person places their phone number on the do-not-call registry, how many years does it stay on the list before it is eligible again for cold calling?

The answer is permanently. Only the consumer can remove their number from the list once they have placed it on.

Which sellers must provide a seller's disclosure notice to a buyer on or before the effective date of a contract?

The answer is seller of residential property of not more than one unit.

Which ultimately decides the listing price of the property?

The answer is seller.

Must telemarketers identify themselves via caller IDs?

The answer is telemarketers are required to transmit their phone number to caller IDs, and their names if possible.

May a seller refuse to a pay a commission if a buyer refuses to pay full price for a property?

The answer is the listing agreement properly signed by the seller and the broker is a legal document that sets compensation.

If a seller lists property with a broker who is a member of a multiple listing service, which of the following applies?

The answer is the listing broker may offer differing amounts of compensation to subagents and to buyer agents.

Which of the following is TRUE about the use of the seller's disclosure notice?

The answer is the seller of a single-family residential property is not responsible for obtaining or disclosing information about the location of registered sex offenders.

If a seller of vacant land does NOT include in the contract a disclosure notice regarding the possible liability of the purchaser for additional taxes, the responsibility for additional taxes and interest belongs to

The answer is the seller.

May sellers disclose the fact that a sex offender lives in a neighborhood?

The answer is yes. Listing agents always should discuss the presence with homesellers and follow their choice. Sex offenders are not a protected fair housing class.