Trec board - Study guides, Class notes & Summaries

TREC (State Exam) Questions and answers, VERIFIED. When was TREC Created? - -1939 What Does TREC have the authority to do? - -Make rules and regulations How many members are in TREC - -9 Members 6 Brokers 3 General Public How are TREC members appointed? - -By the governor or senate What happens if a License Holder fails to respond to a subpoena - -TREC can file a suit with the attorney general Who writes promulgated contract forms - -The broker Lawyer Committee How man...

Samantha is a real estate licensee. She's showing her client a property. The client asks about some spots on the ceiling and wonders if they're an indication of a roof leak. What should Samantha do? - Suggest that her client contact a roofing expert to make a determination. Buying and selling homes is Samantha's area of expertise, not identifying roof leaks. She shouldn't offer an opinion about whether the roof leaks, but she should suggest contacting an expert in this field. Not w...

Real Estate Brokerage SAE - Champion's School of Real Estate 291 Questions with Verified Answers Search Engine Optimization (SEO) - CORRECT ANSWER The process of maximizing the number of visitors to a particular website by ensuring the website appears high on the list of results returned by a search engine. Fcebook Live - CORRECT ANSWER Video streaming through facebook. CoStar Database - CORRECT ANSWER Functions much like a residential MLS, connecting commercial agents with brokerages,...

Champions School of Real Estate-Principles of Real Estate I Exam with 100% correct solutions 3 Physical Characteristics of Land - answerIndestructibility or durability Immobility Non homogeneity Mortgage Lending - answerbusiness of providing money to individuals or corporations for the conditional transfer or pledge of real estate as security for payment of a debt RMLO - answerResidential Mortgage Lenders Originator Property Management - answerManagement of residential and commercial pr...

Statute of Frauds: law that requires some documents (deeds included) to be in writing and signed in order to be enforceable by law  Illegal practice of directing home seekers to a particular neighborhood based on fair housing protected classes? Steering  Taking buyers to or away from a particular area based on any of the protected categories under Fair Housing Laws is called...? steering or channeling  When a buyer purchases a property and takes over the payments and liability on ...

Aceable Agent Questions and ready answers 2023/2024 DEED - correct answer The legal written document that conveys the intangible ownership rights (title) of a real estate property to another property. DEED OF TRUST - correct answer A security instrument that places the deed to the property in a trust held by the lender until a mortgage is paid off, when the trustee will transfer the deed to the borrower. TRUSTEE VS TRUSTOR - correct answer A trustee is an individual person given cont...

CoStar Commercial real estate website similar to a residential MLS Augmented Reality Enhances the user's current perception and experience of reality Artificial Intelligence intelligence exhibited by machines Analytics Collect and track digital data from websites, apps and offline repositories MLS The long-standing gold standard in data collection for real estate agents Virtual Reality following trends in real estate brokerage gives buyers the opportun...

Statutory laws passed by the Texas Legislature: A) Set precedent for future court decisions B) Authorize administrative agencies to carry out provisions of the law C) Are not designated for penalties and violations assessed against an agent D) Designate the civil penalties and punitive damages enforced and collected by TREC - ANSWER -B) authorize administrative agencies to carry out provisions of the law In Texas, the real estate license law is administered by the: A) Texas Real Estat...

Default of contract and types of damages (pg 137) (Ans- Liquidated Damages - The seller can choose to accept the buyer's earnest money as liquidated damages, releasing all parties from any further obligation under the contract. Liquidated damages are damages that are established in the contract. Monetary Damages - The injured party may "seek such other relief as may be provided by law." This would be an award of monetary damages by the court. Because monetary damages are awarded by the ...

Champions School of Real Estate-Principles of Real Estate I Exam Questions and Answers 3 Physical Characteristics of Land - ANSWER Indestructibility or durability Immobility Non homogeneity Mortgage Lending - ANSWER business of providing money to individuals or corporations for the conditional transfer or pledge of real estate as security for payment of a debt RMLO - ANSWER Residential Mortgage Lenders Originator Property Management - ANSWER Management of...