• Learn Real Estate Laws for Tennesseehouse for sale image by Nicemonkey from Fotolia.com
  
  When it comes to buying and selling property, Tennessee real estate agents must know the laws and regulations involved in the transactions in order to ensure the transition of ownership is legal. Real estate laws for Tennessee cover things like educational and license requirements and client representation. The educational requirements cover basic fundamentals and principals involved in being a broker in Tennessee, including contracts.
  
  

Broker Licenses

• In Tennessee, individuals working as real estate agents, whether as an associate broker or broker, must have a valid real estate license. You can obtain a license by passing the required exam with a score of at least 70 percent. On the test, two-thirds of the questions relate to national real estate while the other one-third is specific to Tennessee real estate. Before you can take the test, the state requires you to have at least 60 hours of education specific to real estate principles and fundamentals.
  
  Once you pass the test, you'll have to submit your application for a license to the Tennessee Real Estate Commission (TREC), which will ask preliminary questions such as ones related to any previous real estate licenses in other states or any issues you might have had with the license. After a review of your credentials, the TREC will determine whether or not you get your license as a real estate agent in Tennessee.
  
  

Client Representation

• Real estate laws for Tennessee brokers cover the client/broker relationship as a way to protect consumers from misrepresentation. In Tennessee, real estate agents can represent either the buyer or the seller but not both. If an agent does represent both parties, it's grounds for the TREC to revoke her license. Under the law, it is possible for agents from the same firm to represent both parties, as long as each party has a specific representative for the transaction. Listing agents are also allowed to act on behalf of the seller or buyer, as long as they don't represent both.
  
  

Firm Licenses

• In the state of Tennessee, real estate firms must also have a license to operate as real estate business firms. Each firm must have a principal broker on file with the state. When a real estate agent gets a license, he must acknowledge an affiliation with a law firm. Under Tennessee real estate laws, a broker must sell property through its affiliated law firm. If a broker decides to change firms, she must notify the state of a transfer in affiliation prior to selling for the new firm.