Trec purpose - Study guides, Class notes & Summaries

What is the name of the Tennessee real estate regulatory body? a) Division of the Tennessee Real Estate B) Tennessee Real Estate Commission C) Board of Real Estate Regulators D) Tennessee Real Estate Board B How many members are on the Tennessee Real Estate Commission? A) 10 B) 9 C) 5 D) 15 B How many years may they serve? a) 3 years b) 5 years c) 6 years d) 4 years b What is the purpose and mission of TREC? a) to license and regulate real estate brokers and ...

brokerage - the aspect of the real estate business that pertains to overseeing the needs of the parties and completing a transaction; a brokerage transaction may or may not involve agency relationships The role of a property manager - Generally responsible for the day to day operations of the property, maintenance, and tenant relations How are home inspectors licensed? - Home inspectors are licensed in Texas by TREC. Real Estate Development - most often involves the acquisition of land for...

Purpose of the Tennessee Real Estate Commission aka. TREC Their mission is to protect the public. The commission may enact and enforce bylaws, rules and regulations that are reasonably necessary. Number of Members in TREC 9 Required Member Demographics The governor appoints 7 members who are brokers and/or affiliate brokers. 2 non-licensee members are selected to serve on the commission who must be from different divisions (i.e. east, west, or middle). Also must have at least 1 ...

Texas Real Estate Exam Question and answers verified to pass TREC purpose - correct answer to protect general public in dealing with licensees TREC Composition - correct answer 1) 9 members appointed by governor with advice and consent of Senate 2) 6 must be licensed brokers; 3 must be members who represent the public; all must be voters 3) Public members may not generally be associated with the Commission or the entities it regulates 4) Commissioners serve staggered 6-year terms...

The Real Estate License Act (TRELA) Exam 1 Quiz Questions Part 2 Already Passed Which of these IS NOT covered in The Real Estate License Act (TRELA) described above? 1. Requirements for establishing and maintaining a real estate business 2. Activities prohibited for licensees, disciplinary processes, and disciplinary actions 3. Structure and purpose of the Texas Real Estate Commission Which of these IS NOT a subchapter subject matter addressed by TRELA? The confidentiality of infor...

What Tennessee law covers landlord-tenant relations? Tennessee has the Uniform Landlord and Tenant Act for residential rentals. This law is designed to simplify, clarify, modernize, and revise the laws governing the rental of dwelling units and the rights and obligations of both landlords and tenants and to encourage them to maintain and improve the quality of housing. In addition, the law ensures that the right to the receipt of rent is inseparable from the duty to maintain the premises. Anyon...

Law of Contracts - CHAMPIONS School of Real Estate THE PURPOSE AND FOCUS OF THE LICENSE ACT, AND OF TREC, IS TO PROTECT THE __________________. PUBLIC TREC ESTABLISHED THE _____________________________________ TO WRITE THE RESIDENTIAL CONTRACT FORMS THAT ARE THEN PROMULGATED BY TREC. BROKER LAWYER COMMITTEE ___________________________ MEANS PUBLISHED, OR MADE OF PUBLIC RECORD, AND THESE FORMS ARE THEN MANDATORY FOR AGENTS TO USE, WITH JUST A FEW EXCEPTIONS. PROMULGATED FAILURE...

TREC has the authority under TRELA to suspend or even revoke a broker's license if: They conduct the unlawful practice of law ESAC stands for: Education Standards Advisory Committee What refers to a location from an economic rather than a geographic standpoint? Situs. Which amendment guarantees that a citizen will not be deprived of property without due process of law? 5th Amendment. The CFPB is the: Consumer Financial Protection Bureau A professional organization or association is usual...

Texas Law of Contracts Practice Questions with solutions 2024 The purpose of the TRELA is to... protect the public protect real estate brokers from unscrupulous salespeople keep the cost of real estate services under control protect real estate license holders protect the public The DPTA is a consumer protection law which protects the public from false or misleading acts deceptive acts unconscionable acts all of these all of these Which action might leave...

unlawful practice of law correct answersWhen license holders add provisions to contracts that go beyond factual business details. Texas Real Estate Commission correct answersTexas Real Estate Commission (TREC) was created by the Legislature in 1949. It is a nine-member commission whose primary purpose is to carry out the provisions of the License Act. Commission members are appointed by the governor and approved by the Senate. Each serves for a six-year term, except the chairman of the Comm...