Question 1

What type of agency relationship exists when a Texas broker represents BOTH the buyer and seller in the same transaction with written consent from both parties?

Accepted Answer

Intermediary relationship. In Texas, the term 'dual agency' is not used; instead, this arrangement is called an intermediary, governed by TRELA and TREC rules.

Question 2

What is a 'subagent' in a real estate transaction?

Accepted Answer

A subagent is a licensee who works for a broker who is acting as an agent for a principal, effectively making the subagent an agent of the principal through the broker.

Question 3

Under Texas law, what type of agent is authorized to perform only a specific act or transaction on behalf of the principal?

Accepted Answer

A special agent. Real estate brokers are typically special agents because they are authorized to perform one specific transaction, not broad business dealings.

Question 4

What type of agent has broad authority to act on behalf of the principal in a range of matters, similar to a property manager overseeing all aspects of a property?

Accepted Answer

A general agent. A general agent can bind the principal in a variety of transactions within a defined scope of authority.

Question 5

When a broker acting as an intermediary appoints a licensed associate to work with the buyer and another to work with the seller, what are those associates called?

Accepted Answer

Appointed licensees (or appointed associates). The broker may appoint different licensees to represent each party and communicate negotiating positions, provided written consent was obtained.

Agency & Representation – Texas Real Estate Salesperson Exam

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