In order to offer any gift or prize as an inducement to list a condominium, an affiliate broker MUST obtain the approval of:

Question

Certilyst · Accepted Answer

B Rationale: An affiliate broker must obtain the approval of his or her firm to offer any gift or prize as an inducement to list a condominium. This requirement ensures that all promotional activities align with the policies and ethical standards set by the brokerage.

Choice A is incorrect because while team leaders may have input, the ultimate authority for such approvals lies with the firm itself.

Choice C is not applicable since homeowners' associations typically do not have a role in the approval of real estate practices related to broker incentives.

Choice D is wrong because the Tennessee Real Estate Commission regulates real estate practices but does not directly approve individual broker activities regarding gifts or prizes. The firm’s approval acts as a safeguard for compliance with legal and ethical standards.

Tennessee Real Estate Exam Practice Test

In order to offer any gift or prize as an inducement to list a condominium, an affiliate broker MUST obtain the approval of: