Tennessee Real Estate Practice Exam

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Study for the Tennessee Real Estate Test with our engaging quizzes. Use flashcards and multiple choice questions, each with hints and explanations, to prepare confidently for your exam day!

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If a licensee is having lunch with other realtors from different firms and they begin discussing commission rates, what should the licensee do?

Join the discussion
Report to the commission
Leave the table
Change the subject

The correct answer is: Leave the table

When discussing commission rates during a lunch with other realtors from different firms, the licensee should leave the table to avoid potential violations of antitrust laws. Engaging in discussions about commissions can lead to allegations of price-fixing, which is illegal. By removing themselves from the conversation, the licensee ensures compliance with legal and ethical standards concerning fair competition in the real estate market. It is essential for real estate professionals to understand that collaborative discussions about pricing structures among competitors can be perceived as collusion. Therefore, leaving the table is the correct action to prevent any legal complications that may arise from the discussion.