Texas Real Estate Principles 1

Trec Commision Membership Correct Answers9 Members (6 brokers, 3 public) appointed by governor. They serve 6 year staggered term. Texas Real Estate Borker Lawyer Committee Correct Answers13 Members (6 brokers, 6 lawyers, 1 public) General Eligibility Requirements to be Licensed by TREC Correct Answers18 years old a US citizen or lawfully admitted alien resident of the state A certificate is required seperate of the license when Correct Answersbuying, selling or leasing an easement pertaining to telecommunicaton, utility, railroad or pipeline services. Payments into Trust Account Correct Answersensures the availibility of a sufficient amount to pay on anticipated claims on the trust account A commission may suspend or revoke a license for Correct Answersacting 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 Correct Answersit 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 Correct AnswersA copy of the "Information about brokerage services" form The three Canons for professional ethics and conduct for Real Estate Licensees Correct AnswersFidelity, Integrity, Competency