Texas Real Estate Principles 1 Exam 2024

Texas Real Estate Principles 1 Exam 2024 Trec commision membership - 9 members (6 brokers, 3 public) appointed by governor. They serve 6 year staggered term. Texas real estate borker lawyer committee - 13 members (6 brokers, 6 lawyers, 1 public) General eligibility requirements to be licensed by trec - 18 years old A us citizen or lawfully admitted alien Resident of the state A certificate is required seperate of the license when - buying, selling or leasing an easement pertaining to telecommunicaton, utility, railroad or pipeline services. Payments into trust account - ensures the availibility of a sufficient amount to pay on anticipated claims on the trust account A commission may suspend or revoke a license for - acting negligently or incompetently, comingling money and soliciting or selling offers for the sale of real estate by means of a lottery An appeal can be made on a decision by the commission - it must be taken to the district court in the county where the administrative hearing was held. When dealing with a client it is mandatory to give them - a copy of the "information about brokerage services" form The three canons for professional ethics and conduct for real estate licensees - fidelity, integrity, competency Under what circumstances can a person be called a "realtor?" - that agent has to join the "nar" national association of realtors to be called a "realtor" What was the fair housing laws or civil rights act of 1866 - federal law that where the only protected class was race. No one can discriminate because of race. Civil rights act of 1968 - amended the civil rights act of 1866 to include race, color, national origin, religion, Civil rights act of 1974 - amended to include sex (male or female) Civil rights act of 1988 - amended to include handicap and familial status Define handicapped - having a physical or mental disability (including hearing, mobility, visual impairment, chronic mental illness and aids) that substantially limits one or more major life activities.