Agency
A Tennessee listing agent who takes a listing and then makes an offer on the property personally must:
AResign the listing first
BDisclose their licensed status and any personal interest to the seller✓ Correct
CHave TREC approve the personal purchase
DAssign the listing to another agent in the firm before making any offer
Explanation
Tennessee license law requires a licensee to disclose their licensed status and any personal interest whenever they purchase property from a client. The seller must be aware they are dealing with a real estate professional who may have specialized knowledge.
Related Tennessee Agency Questions
- Implied agency arises when:
- A Tennessee broker who represents both the buyer and seller in the same transaction without disclosure and written consent is guilty of:
- Which of the following is an example of 'puffing' rather than a material misrepresentation?
- In Tennessee, a seller's listing agreement obligates the seller to pay the commission when the broker produces a ready, willing, and able buyer. 'Able' buyer means:
- An agent's duty of 'reasonable care and diligence' means the agent must:
- The Tennessee Agency Disclosure document must be provided to a prospective buyer or seller:
- In Tennessee, a licensee who fails to present an offer to a seller because they believe it is too low is:
- When a Tennessee listing agent accepts an offer on behalf of the seller without the seller's authorization, this act:
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