Tennessee Real Estate Affiliate Broker Exam — Study Guide
Free, topic-by-topic study notes for the Tennessee Real Estate Affiliate Broker Exam exam. Read a chapter, then practice it.
Property Ownership
Property ownership concepts define exactly what a person owns in real estate and how that ownership is held. This chapter reviews estates in land, the ways two or more people can co-own property, and the bundle of rights that make up real property.
Land Use Controls and Regulations
Land is regulated by both government and private controls that shape how it can be used. This chapter covers public controls such as zoning, private controls such as deed restrictions, and the exceptions that allow flexibility.
Valuation and Market Analysis
Valuation is the process of estimating a property's worth, a skill agents use for pricing and analysis. This chapter reviews the three approaches to value, the economic principles behind them, and the difference between an appraisal and a market analysis.
Financing
Most real estate purchases are financed, so agents must understand how loans work. This chapter covers mortgage instruments and their key clauses, common loan types, and the federal laws that govern lending.
Contracts
Contracts are the backbone of every real estate transaction. This chapter reviews the elements that make a contract valid, the main types of real estate contracts, and how offers become binding agreements.
Agency
Agency law defines the legal relationship between a licensee and the people they serve. This chapter covers how agency is created, the fiduciary duties owed to a client, the types of agency relationships, and disclosure requirements.
Property Disclosures
Buyers rely on accurate information about a property's condition, and the law increasingly requires sellers and agents to disclose known problems. This chapter covers seller disclosures, environmental hazards, and the limits of caveat emptor.
Transfer of Title
Title is the legal evidence of ownership, and transferring it correctly is central to every sale. This chapter reviews deeds and their elements, the types of deeds, and how title is recorded and protected.
Practice of Real Estate
Practicing real estate ethically and legally protects consumers and the licensee's career. This chapter covers fair housing, antitrust and advertising rules, and the proper handling of client funds.
Property Management
Property management is a distinct real estate specialty involving the operation of income property on an owner's behalf. This chapter covers the management agreement, types of leases, and landlord-tenant law.
Real Estate Calculations
Real estate math appears throughout a transaction, from commissions to closing. This chapter reviews the most common calculations agents perform, using a consistent step-by-step method.
Tennessee License Law (T.C.A. Title 62, Ch. 13)
Tennessee real estate licensing is governed by Title 62, Chapter 13 of the Tennessee Code Annotated and administered by the Tennessee Real Estate Commission (TREC). This chapter reviews Tennessee's license levels, supervision, and the E&O insurance requirement.
Tennessee Agency: Facilitators and Designated Agents
Tennessee defines specific agency roles and permits designated agency within a firm. This chapter reviews the facilitator role, designated agency, and required disclosures.
Tennessee Practice: Escrow and Firm Supervision
Tennessee practice centers on proper handling of earnest money and the principal broker's supervision of the firm. This chapter reviews escrow rules and day-to-day conduct standards.
Tennessee License Requirements and Renewal
Tennessee sets education, examination, insurance, and renewal requirements for affiliate brokers. This chapter reviews the path to licensure and ongoing obligations. Confirm current hour totals and fees with TREC.
Practice by topic
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