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As an agent, you have a fiduciary responsibility to your clients, meaning you will be loyal, honest, and keep their information confidential in the process of helping them buy or sell a property.
What is the primary purpose of the Tennessee Real Estate Commission? To protect the public. Lamar sells another broker's $800,000 listing for $785,000 at a commission rate of 6.5%.
The Real Estate Commissioner, who is appointed by the Governor, is the chief executive of the Department of Real Estate. To facilitate the administration and enforcement of the Real Estate Law and the Subdivided Lands Law, the Commissioner is empowered by law to issue regulations.
What is the purpose of the License Act? to protect the public from irresponsible or unscrupulous persons dealing in real estate. This law establishes the Tennessee Real Estate Commission and provides the basis for the licensing and regulation of the real estate profession.
A broker is an agent with experience who has taken courses and passed the broker's exam. A broker can run his or her own real estate office and supervise agents. an affiliate broker is a licensed broker who is working as an agent and not operating his or her own office.
Created in 1951, The Tennessee Real Estate Commission licenses, registers and regulates real estate brokers and affiliate brokers, real estate firms, rental location agents, time-share salespersons and developments, vacation clubs and vacation lodging services.
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