National / General cheat sheet
Real Estate Practice Texas Real Estate Exam Cheat Sheet
This area covers brokerage agreements, property management, fair housing, antitrust, supervision, fraud, advertising, and the risk controls used in day-to-day real estate practice.
Identify the protected party and the prohibited conduct. Many questions describe a conversation or advertisement and ask which rule it violates.
What Pearson tests
- Broker responsibilities, scope of expertise, and unauthorized practice of law
- Listing, buyer-representation, and property-management agreements
- Fair housing, antitrust, supervision, privacy, fraud, misrepresentation, and insurance
Three traps to catch
- Realtor is a membership term, not a synonym for every licensed broker or sales agent.
- Price fixing can occur through informal agreement. A written contract is not required for an antitrust violation.
- Fair housing advertising can violate the law even when no completed transaction occurred.
Essential vocabulary
Real Estate Practice terms to know
- Exclusive right-to-sell listing
- A listing in which the broker is owed the agreed compensation when the property sells during the term, subject to the agreement.
- Open listing
- A nonexclusive listing in which the successful procuring broker earns the compensation.
- Procuring cause
- The uninterrupted chain of events that results in a completed transaction.
- Fair Housing Act
- The federal law prohibiting specified housing discrimination.
- Steering
- Directing housing choices based on a protected characteristic.
- Blockbusting
- Inducing transactions by suggesting protected-class entry will harm property values.
- Redlining
- Discriminatory denial or limitation of services based on the racial or ethnic character of an area.
- MLS
- A cooperative listing service through which participating brokers share listing information.
Check your recall
Can you answer these without notes?
1Is every Texas license holder a Realtor?
No. Realtor is a voluntary membership designation.
2What is price fixing?
An agreement among competitors to set or stabilize prices, fees, or commission terms.
3Which federal law supplies the seven protected housing classes?
The federal Fair Housing Act, as amended.
Use the sheet, then retrieve
Test the rules while they are still fresh.
Read the full lesson when a definition is fuzzy. Then answer the topic questions without looking back at this sheet.
Primary sources
- Pearson VUE Texas Real Estate Content Outlines
- HUD, Housing Discrimination Under the Fair Housing Act
This is exam-prep education, not legal, tax, or transaction advice. Confirm the current law, form, and official exam materials before relying on a rule in practice.