Texas Real Estate Broker Cheat Sheet.
The night-before summary, built like the exam.

Start with the fiduciary duties acronym OLD CAR: Obedience, Loyalty, Disclosure, Confidentiality, Accounting, and Reasonable care and diligence. Add the four contract essentials of mutual assent, consideration, competent parties, and lawful object, plus the seven federal Fair Housing protected classes: race, color, religion, national origin, sex, familial status, and disability. These recurring frameworks anchor a large share of the questions you will see.

Memorize that one discount point equals one percent of the loan amount and works as prepaid interest that buys down the rate, and that private mortgage insurance is typically required on conventional loans when the down payment is under twenty percent. Also remember that TILA, through Regulation Z, grants a three-day right of rescission on certain refinances of a principal residence. These small numeric rules are heavily tested in finance questions.

Watch for questions that blur the line between clients and customers: agents owe customers honesty, fair dealing, and disclosure of known material latent defects, but not fiduciary duties. Another classic trap is the counteroffer rule, where any material change to an offer's terms rejects and extinguishes the original offer. Also remember dual agency is only allowed with the informed written consent of both parties, and race discrimination under the Civil Rights Act of 1866 has no exemptions.

Know that a general warranty deed offers the greatest protection because the grantor warrants title against all defects arising at any time, while a quitclaim deed carries no warranties and conveys only whatever interest the grantor may have. Remember that recording a deed gives constructive notice to the world and establishes priority, and that property tax liens generally jump ahead of all other liens regardless of recording date. These contrasts are favorite exam distinctions.

Use it as a final memory check, not a cram session: read each rule and try to recall it from memory before looking, marking anything you stumble on. Give one last pass to high-yield frameworks like OLD CAR, the three approaches to value (sales comparison, cost, and income), and the Statute of Frauds requirement that real estate sale contracts and leases longer than one year be in writing and signed. Then stop early and get sleep; a rested brain retrieves rules better than a tired one.

A cheat sheet alone is not enough; it condenses the rules but cannot teach you to apply them to scenario questions, which is what the exam actually tests. Use full study materials and practice questions to build understanding, then use the cheat sheet to keep the key facts fresh between sessions and for final review. Think of it as the index to your knowledge, not the knowledge itself.