Affiliate Broker Tennessee (TN PSI) National Practice Exam 2025 – Comprehensive All-in-One Guide to Exam Success

The Tennessee Real Estate License Act of 1973 serves as the primary statute governing real estate transactions in the state. This legislation outlines the requirements for obtaining a real estate license, the responsibilities and duties of real estate professionals, and the regulatory framework within which they must operate. It is crucial as it establishes the legal foundation that ensures competency and ethical behavior among real estate practitioners in Tennessee.

The Act is specifically tailored to address the nuances of real estate dealings within the state, including licensing requirements, professional conduct standards, and disciplinary actions for violations. By having such a statute, the state aims to protect consumers and maintain integrity within the real estate market.

Other options pertain to broader federal regulations or laws that do not specifically regulate the practices of real estate in Tennessee. The Housing and Urban Development Act focuses on federal housing policies, the Tennessee Fair Housing Law addresses discrimination in housing, and the National Real Estate Act of 1968 is more focused on federal standards rather than state governance. Thus, while important, these acts do not hold the same primary role as the Tennessee Real Estate License Act in defining how real estate transactions are conducted specifically within Tennessee.