Texas Real Estate State Exam | 100 Questions with 100% Correct Answers | Verified | Latest Update 2024

When was TREC created? - 1947 TREC has the authority to.. - make rules and regulations. It's rules and laws govern license holders TREC has how many commission members? - 9 members, 3 represent the general public and 6 are real estate brokers TREC has the power to.. - subpoena books, records, and witnesses and issue and revoke real estate licenses If your license is revoked by TREC... - You can appeal the decision to the district court Who writes promulgated contract forms? - The Broker Lawyer Committee Who are the members of the Broker Lawyer Committee? - 13 total, 6 are TREC appointed brokers, 6 are lawyers appointed by the President of the State Bar Association, and one is a public member appointed by the governor Penalty of practicing without a license - People engaged in the real estate brokerage business without having secured a license from TREC are guilty of a Class A Misdemeanor and subject to a fine of not more than $4,000.00 or impris- onment in the county jail for not more than one year, or both. Trials for this would be held in the county court. In addition, persons guilty of a violation of the License Act and whoever profited there from are liable for additional civil penalties of up to three times the amount of money received