Tennessee Real Estate License Exam Practice Question
In order to offer any gift or prize as an inducement to list a condominium, an affiliate broker MUST obtain the approval of
Correct Answer: B
Rationale: An affiliate broker must obtain approval from their firm before offering any gift or prize as an inducement to list a condominium. This requirement ensures that the firm's policies and compliance with legal standards are upheld.
Option A, team leader approval, may be helpful but does not fulfill the legal requirement. Option C, the homeowners' association, is irrelevant in this context, as they do not govern broker incentives. Option D, the Tennessee Real Estate Commission, oversees regulations but does not approve individual inducements, making firm approval essential for compliance and ethical practices.
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