Under trela Study guides, Class notes & Summaries

Brokerage Correct Answer 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 Correct Answer Generally responsible for the day to day operations of the property, maintenance, and tenant relations How are home inspectors licensed? Correct Answer Home inspectors are licensed in Texas by TREC. Real Estate Development Correct...

AYPO Real Estate Promulgated contracts actual exam questions and answers 2024 "Psychological stigmas," which involve violent or catastrophic events on a property, fall under which category of disclosure? a. Required disclosures b. Prohibited disclosures c. Permitted disclosures d. None of these -Answer-c. Permitted disclosures If there is a field in a promulgated form for which you have no information to include, your safest option is which of the following? a. Run a line through it ...

In ______ the Texas Real Estate Commission was established to administer and enforce the TRELA. - correct answer -1949 TREC has only _______ promulgated lease forms. - correct answer -2 In the TAR® Seller's Disclosure the seller should _______. a. prepare the disclosure when the listing is taken b. be the only one completing this form or any part of it c. none of the above d. both a and b - correct answer -d. both a and b The _______ statute provides that the sender's messag...

Texas Real Estate License Act (TRELA) Passed in 1939. The Texas Real Estate Commission was created to enforce and administer the act in 1949. The purpose of the Act is to protect the public against unscrupulous brokers and sales agents. Makes it illegal to practice any act of real estate brokerage without a license. Fiduciary Based on trust. Indemnification Protection against damage or loss. Means that the principal will protect the agent from suffering a loss due to the agent'...

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

Texas Principles of Real Estate 1 (2023/ 2024) Exam| Questions and Verified Answers| Grade A Q: Under subchapter E of TRELA the commission has a responsibility to make information available about the commission and its duties in the interest in: Answer: The general public Q: In a real estate transactions who may a licensee represent? Answer: A client Q: What type of real estate market occurs when both supply and demand are low? Answer: Stagnant Market Q:...

Law of Agency-Final Exam Review Latest Version What are the minimum services an agent must offer; - CORRECT ANS - According TRELA subchapter 1101.557b states a broker representing a party or listing real estate for sale is the party's agent and 1. May not instruct another broker to directly or indirectly violate the sub chpt-1101.65b22, 2.Must inform the party if the broker Receives material information related to the transaction to list, buy, sell, or lease the parties real estate, inc...

AYPO Real Estate Principles of Real Estate I Exam Study Guide 2024 with 100%Correct Answers. TREC has the authority under TRELA to suspend or even revoke a broker's license if: - correct answer They conduct the unlawful practice of law ESAC stands for: - correct answer Education Standards Advisory Committee What refers to a location from an economic rather than a geographic standpoint? - correct answer Situs. Which amendment guarantees that a citizen will not be deprived of property witho...

Law of Agency-Final Exam Review Questions and Answers Already Passed What are the minimum services an agent must offer; According TRELA subchapter 1101.557b states a broker representing a party or listing real estate for sale is the party's agent and 1. May not instruct another broker to directly or indirectly violate the sub chpt-1101.65b22, 2.Must inform the party if the broker Receives material information related to the transaction to list, buy, sell, or lease the parties real estate, incl...

Texas Real Estate Agent A person who is licensed through TREC. Texas Real Estate Commission Does a person who manages, buys, sells, leases, or rents their own property have to be licensed through TREC? No. There are two types of licenses: broker's and salesperson's license What is the most popular division of the real estate market? Residential real estate because there are more transactions in residential in other forms of real estate. Residential brokerage in...