Real Estate Exam Review – Texas Portion

Real Estate Exam Review – Texas Portion. Commission Duties and Powers o Texas Real Estate Commission (TREC)  Nine Member – six brokers and three members of the general public  Appointed by the governor to staggered six-year terms  One broker designated by the governor as chairperson o Duties and Powers  Protect the public  Make and enforce rules and regulations  Establish standards of conduct and ethics for licensees  Administer and enforce license law and levy civil fines  Select an administrator and employees to administer the law  Issue license and probationary licenses and collect money for licenses and renewals  Conduct investigations (within 4 years after the incident) hold hearings, and issue injunctions  Suspend or revoke a license, and place on probation or reprimand a licenses  Initiate a cease and desist action  Inspect and accredit real estate educational programs  Promulgate Contracts and Addenda  Enforce the Texas Time-Share Act  Order a person regulated by the commission to pay a refund to a consumer as provided in an agreement resulting form an informal settlement conference or an enforcement order, instead of or in addition to imposing an administrative penalty or other sanctions  TREC does NOT mediate disputes between licensees, settle commission disputes, recommend individual licensees to the public, or send licensees to jail o Brokers Lawyer Committee  Composition  13 Member – 6 brokers appointed by the commission, 6 Lawyers appointed by the president of the State Bar of Texas, 1 Public Member appointed by the governor