TREC EXAM STUDY GUIDE

TREC Purpose - Answer- To protect general public in dealing with licensee TREC composition - Answer- 9 members appointed by the governor, 6 must be licensed brokers, 3 must be members who represent the public, all must be voters, public members may not be associate with the commission, they serve six year staggered terms TREC does not - Answer- Mediate disputes among and between licensees, involve itself with compensation disputes among licensees, recommend certain licensees to the public TREC: Real estate advisory committees (ESAC) - Answer- TREC may appoint advisory committees to perform various advisory functions, non-commission members cannot be paid for committee participation Handling complaints - Answer- Any complaints against the sales agent is also a complaint against the sponsoring broker Once a complaint is filed - Answer- Commission considers, investigates, and decides whether to take action. The complaint cannot be withdrawn without commission consent Licensees with suspended license - Answer- May not perform or advertise to perform brokerage activities, notify the broker in writing of the suspension no later than the third day before the suspension, The commission has the authority to - Answer- Suspend or revoke a license and monitor compliance with any order against the licensees Administrative penalty 1101. 701 - Answer- Commission may impose an administrative penalty (fine) in combination with the suspension or revocation Notice of violation and penalty 1101. 703 - Answer- Upon an affirmative conclusion of a violation, the commission may issue a notice of violation with a summary, a recommended penalty and that the licensee has the right to contest the conclusion Pay penalty or request - Answer- Once the notice of violation perceived philosophy has 20 days to except the decision or request a hearing, Hearing - Answer- If the commission intends to suspend a license the licensee is entitled to a hearing conducted by the state office of administrative hearings Notice the order - Answer- Executive director issues commissions in order to the licensee containing findings, penalty amount, and the licensees rights review