Trec licenses Study guides, Class notes & Summaries

Texas Real Estate Principles 1 - Unit 1 Exam questions and answers latest top score. The Committee has _____ members appointed by the Commission. - correct answers.12 The __________ is a statute that is administered and enforced by the Texas Real Estate Commission (TREC), which is a state agency. - correct answers.Real Estate License Act A successful career in real estate requires someone to: - correct a self-started. A peak is characterized as the __________ turni...

Deficiency A ________, in the reasonable judgment of the inspector, is a condition that adversely and materially affects the performance of a system, or component. Inspection Process of examining accessible items, and reporting their condition RESPA Prohibits abusive practices like undisclosed referral fees and kickbacks. Designed to help consumers become more knowledgeable of settlement services costs. Departure Provision The inspector may not inspect an item if the ...

Who licenses real estate inspectors? CORRECT ANSWER TREC The role of sales agent in disclosing property condition: CORRECT ANSWER agent must refrain from giving an opinion of the condition of the property or the validity of any findings in the report. Sales agents responsibility to explain the inspection process. TREC standards of practice - what properties are covered CORRECT ANSWER resales or substantially completed houses. Inspection of houses under construction is a growing segment. ...

The acronym TRELA stands for which of the following...? Texas Real Estate License Association Texas Real Estate License Act Texas Real Estate Legal Act Texas Real Estate Legislation Act - Answer- Texas Real Estate License Act The rules and regulations regarding real estate licenses in Texas are described in which of the following...? Texas Real Estate License Act Texas Real Estate Law Texas Bureau of Real Estate Article 12-A of the State Real Estate Law - Answer- Texas Real Estate Lic...

Describe at least two requirements under TRELA. (Ans- Act created by Texas Congress 1) All professionals are licensed 2) Use same policy, procedures, and forms. Providing correct documentations and forms during a transaction. TREC wanted to get things standardized. TREC was created in 1949 and that's when it began administrating TRELA. Real Estate Dealers license Act was enacted in 1939 for salesperson and brokers. TRELA is the present act which is active and administered until present day. ...

Champions Real Estate - Principles 1 Exam 2024 Already Passed brokerage the aspect of the real estate business that pertains to overseeing the needs of the parties and completing a transaction; a brokerage transaction may or may not involve agency relationships The role of a property manager Generally responsible for the day to day operations of the property, maintenance, and tenant relations How are home inspectors licensed? Home inspectors are licensed in Texas by TREC. Real ...

Government loans include correct answersFHA, VA, and USDA loans. _____________________ means with actual awareness, or flagrant disregard of prudent and fair business practices. correct answersIntentionally What year was the Texas Real Estate License Act(TRELA) created? correct answers1939 What year was the Texas Real Estate Commission(TREC) created? correct answers1949 How many members make up TREC? correct answers9 members TREC members serve what term limits? correct answersSix ...

Principles of Real Estate Questions With Correct Answers. Texas Real Estate Agent A person who is licensed through TREC. Texas Real Estate Commission Does a person who manages, buys, sells, leases, or rents their own property have to be licensed through TREC? No. There are two types of licenses: broker's and salesperson's license What is the most popular division of the real estate market? Residential real estate because there are more transactions in residential in other...

Champions Real Estate - Principles 1 Exam 2023 (Principles of Real Estate I class study cards) A+ Graded brokerage the aspect of the real estate business that pertains to overseeing the needs of the parties and completing a transaction; a brokerage transaction may or may not involve agency relationships The role of a property manager Generally responsible for the day to day operations of the property, maintenance, and tenant relations How are home inspectors licensed? Home inspect...

When was TREC created? - correct answer 1947 TREC has the authority to.. - correct answer make rules and regulations. It's rules and laws govern license holders TREC has how many commission members? - correct answer 9 members, 3 represent the general public and 6 are real estate brokers TREC has the power to.. - correct answer subpoena books, records, and witnesses and issue and revoke real estate licenses If your license is revoked by TREC... - correct answer You can appe...