Trec consists - Study guides, Class notes & Summaries

State Test Question and answers already passed TREC (Texas Real Estate Commission) - correct answer -created in 1949 -protect the public -authority to make rules and regulations -consists of 9 commission members, 3 represent the general public & 6 are real estate brokers. All appointed by the governor and approved by the Senate. Serve 6 year terms. Broker Lawyer Committee - correct answer writes promulgated contracts 13 members 6 are brokers 6 lawyers and 1 public member. Handling ...

Brokerage correct answers The business of bringing together people who are interested in making a real estate transaction Broker correct answers Typically acts as an agent of the buyer or seller (or both) in negotiating the sale, purchase, or rental of a property Sales agent correct answers A license holder employed by or associated with a broker who conducts brokerage activities on behalf of the broker for a fee or commission Uses of real property correct answers (1) Residential, (2) C...

TREC was created in _________ to administer the provisions of the license act which passed in _______. - answer-1949, 1939 Trec has the authority to make _________ and __________. - answer-Rules, regulations TREC consists of how many members? - answer-Nine members - six licensed brokers and 3 members of the public. All are appointed by governor and approved by senate The broker lawyer committee - answer-writes the promulgated contract forms. The broker lawyer committee consists of: -...

Tennessee (state exam) Real Estate Questions and Answers Rated A+ Regulatory Powers - Answer ️️ -Enable the agency to pass specific regulations and rules to support the administration of the license law Judicial Powers - Answer ️️ -Enable it to conduct hearings and investigations into the activities of licensees and to rule on license suspensions or revocations Administrative Powers - Answer ️️ -Enable it to establish the staff organization, records, and facilities to manage t...

Regulatory Powers - Answer Enable the agency to pass specific regulations and rules to support the administration of the license law Judicial Powers - Answer Enable it to conduct hearings and investigations into the activities of licensees and to rule on license suspensions or revocations Administrative Powers - Answer Enable it to establish the staff organization, records, and facilities to manage the licensing process and the licensees themselves Mission of the Tennessee Real Es...

Regulatory Powers - ️️Enable the agency to pass specific regulations and rules to support the administration of the license law Judicial Powers - ️️Enable it to conduct hearings and investigations into the activities of licensees and to rule on license suspensions or revocations Administrative Powers - ️️Enable it to establish the staff organization, records, and facilities to manage the licensing process and the licensees themselves Mission of the Tennessee Real Estate Comm...

Regulatory Powers - Enable the agency to pass specific regulations and rules to support the administration of the license law Judicial Powers - Enable it to conduct hearings and investigations into the activities of licensees and to rule on license suspensions or revocations Administrative Powers - Enable it to establish the staff organization, records, and facilities to manage the licensing process and the licensees themselves Mission of the Tennessee Real Estate Commission - Protect the ...

Promulgated Forms Latest Update Graded A The title company decides the amount of earnest money required in a real estate contract. The statement is FALSE. The buyer and the seller agree to the amount of earnest money in a contract. If a contract does NOT meet the six elements of a valid real estate contract, it may become unenforceable. The statement is FALSE. Agreements that do not meet the requirements are void. Using an out-of-date version of a TREC form could be considered the unauthorize...

The purpose of the Texas Real Estate License Act is: A. to regulate the sale of real property in Texas B. to prevent commission splits among licensees C. To protect the public against unscrupulous brokers and salesmen D. to define the rule of agents in real estate transactions C Climate, views, access to natural recreation, good schools and job opportunities are some factors that contribute to the desirability of land in particular locations. These factors best describe: A. Scar...

Texas Principles of Real Estate Express Exam Questions & Answers Updated Latest. What kind of professionals manage the legal aspects of a development project? Real Estate attorneys, title companies, surveyors, property insurance companies and government regulatory officials What types of professionals are involved in the transfer of rights and interest in Real Estate? Titles companies, Real Estate Brokers/ Sales Persons, Mortgage Brokers, Mortgage Bankers, Appraisers, Insurers Property ...