What is the purpose of the Texas Real Estate License Act quizlet?
The Texas Real Estate License Act purpose is: to protect the public from against unscrupulous brokers and sales persons.
What is the Real Estate License Act?
ACT Real Estate Licence Program
It provides you with in-depth knowledge, including, property appraisals, property sales, rental management of investment properties, trust accounting and managing finance and agency staff.
What act created the Texas Real Estate Commission?
In 1949 the Texas Real Estate Commission (TREC) was created to administer the act (Senate Bill 28, 51st Legislature, Regular Session).
Who is regulated by TREC?
TREC enforces the laws and rules which govern sales agents and brokers. If you have issues or concerns with the broker or sales agent assisting you, or if you feel you are not being represented fairly, you can file a complaint with TREC.
Which of the following is required to obtain a real estate license in Texas?
What education is required to obtain for a salesperson license? Complete education requirement from TRELA. 12 semester hours, or equivalent classroom 180 hours of postsecondary education consisting of 4 hours on principal of real estate, 2 semester hours of agency law, contract forms, and real estate finance.
What is the salary for real estate agents?
The median annual pay for real estate agents was $48,930 in 2019, according to the most recent data available from the U.S Bureau of Labor Statistics.
What is the purpose of the property and stock agents act?
An Act to provide for the regulation of property and stock agents; to repeal the Property, Stock and Business Agents Act 1941; and for other purposes.
How can I be a real estate agent?
You can become a real estate agent in about four to six months, depending on where you live. Online prelicensing classes can speed up the process. Requirements vary by state, but the general steps are to take a real estate prelicensing course, take the licensing exam, activate your license, and join a brokerage.
Is it illegal to dual agent in Texas?
Texas law does not permit dual agency. A license holder may not represent both principals as a dual agent under the revisions to TRELA. Under the current law, a broker must agree to act as an intermediary in accordance with the statute if the broker agrees to represent more than one party in a transaction.
What has the greatest impact on the value of a property?
A home’s size has a major influence on its value, with some prospective homebuyers looking specifically at price per square foot to filter out this effect and determine value. Bigger houses tend to sell for higher prices, of course.