Elements and Practice Contract Addenda 7. Earnest Money, Options and Title 8. Survey, Buyer notice and Property Condition 9. Closing, Possession and Temporary Leases Contract Addenda and Contract Termination Contract Addenda and Non-Contract Forms Real Estate Fraud, Broker's Fees Case Study When you complete this real estate course, you will have a much clearer and fuller knowledge of the laws governing Texas real estate and how they will apply to your career as a licensee.
Property Management 2. Residential and Commercial Management Agreements 3. Professional Societies and Associations for the Property Manager 4. Leases 5. Marketing Properties 6. Fair Housing 7. Landlords 8. Landlord- Tenant Rights 9. Landlord Repairs Security Deposits Security and Safety Statutory Provisions Landlord - Tenant Rights TAR Addenda TAR- Commercial Lease Lease Negotiations Property Manager, Tenant and Owner Relationships Building Maintenance Energy Management and Policies and Procedures Opening and Running a Property Management Business Property Managers and Management Fees Property Management Reports Analysis and Forms Property Management Obligations Risk Unique Issues Marketing Concepts and Tools Final Exam.
Introduction to Brokerage 2. Mission Statement 3. Real Estate Planning 4. Planning 5. Planning-Financial Analysis 6.
Writing a Business Plan 7. Business Entities and Licenses 8. Opening an Office - Part I 9. Opening an Office - Part II Writing an Office Manual Recruitment Staff Training Personal Assistants Safety in the Office Agency Brokerage Responsibilities Trust Accounts Conducting real estate brokerage activity with an inactive license is considered a violation subject to sanctions. Yes, as long as the broker has the legal authority to use that name in the State of Texas and it is registered with TREC before it is used in advertisements.
Any name used by an individual sales agent, other than the name on the license or a registered alternate name, is considered a team name under TREC rules and must meet the team name requirements. Yes, within certain limitations. The unlicensed person may share in the income earned by a real estate brokerage if the person engages in no acts for which a license is required. The intermediary may delegate to another license holder the authority to appoint license holders.
This is an improper combination of the different functions of intermediary and appointed license holder. It is important to remember that there will always be a single intermediary broker even if another license holder has been authorized to make the specific appointments.
The intermediary is prohibited from acting so as to favor one principal over the other, and may not reveal confidential information obtained from one principal without the written instructions of that principal, unless disclosure is required by TRELA, court order, or the information materially relates to the condition of the property.
The intermediary and any associated license holders appointed by the intermediary broker are prohibited from disclosing, without the written authorization from the seller, that the seller will accept a price less than the asking price or that the buyer will pay a price greater than the price submitted in a written offer.
Yes, if the assumed business name of the associated broker meets the requirements for a team name since a team name must be used when the associated broker is associating with another broker. Keep in mind that the associated broker registers the assumed business name that is used when they are not associating with another broker and the broker that they are associating with registers the team name being used when associating with that broker.
Note on Exclusive Name Use : TREC does not, and is not, required to vet names submitted for registration as an assumed name or team name for exclusivity.
A brokerage should decide whether it makes good sense from a liability exposure standpoint to allow an associated broker or a sales agent who owns a business entity to use the same name for a team name under the brokerage that they have registered as an assumed name under their own licensed business entity. However, an advertisement that contains a URL or email address of a sales agent that includes a title that implies responsibility for a brokerage violates TREC Rule Further, TREC will consider all advertisements in their entirety and if an email address or URL] makes the advertisement misleading or deceptive, it violates the law.
A broker is not required to directly supervise sponsored sales agents; this responsibility may be delegated to another person with the required level of experience and expertise to provide proper supervision under the law. Brokers should be familiar with and follow the duties set out in Rule Log on to your My License Services account.
From the Start Menu page, click on the to change your business physical address. If you prefer, you can also submit the Change of Main Address form by email. When a broker maintains a trust account, documentary records of each deposit or withdrawal for that account must be retained for four years. Additionally, you may not use your expertise to the disadvantage of others with whom you deal.
To apply as an out of state broker, you must submit the paper Application for Broker License by an Individual along with requested documents and the applicable fee. You can be exempt from taking the National portion of the exam if you hold an active license in a state that participates in the National exam accreditation with ARELLO.
Submit a license history from the state in which you are licensed when you file your application so we can determine if you are exempt. Yes, Commission Rule Yes, as long as the advertisement complies with Rule The designated broker acting as a general partner must be an individual, not another business entity.
Yes, but the ad must disclose that payment of the rebate is subject to the consent of the seller and if the rebate is contingent upon certain restrictions, such as the use of a particular service provider, the ad must contain a disclosure that payment of the rebate is subject to restrictions. A buyer can choose the broker with whom the buyer wants to work.
TREC does not determine what constitutes "procuring cause" or who is entitled to a commission or other compensation. Like a listing agreement, the buyer representation agreement must be in writing and signed by the buyer to be binding. Not unless the person depositing the money has signed an agreement authorizing the broker to keep the interest. Otherwise, the interest must be treated in the same manner as the deposited money.
The broker is responsible for accounting for the interest and disbursing it to the person whose money is held by the broker. To avoid an advertisement that implies the sales agent is responsible for the operation of the brokerage in this situation, the sales agent should make sure that the ad clearly indicates that the sales agent is not the broker.
Yes, if the real estate business entity holds a real estate license and the sales agent is sponsored by that entity. In such a situation, the designated broker for the entity is still responsible for the sales agent's actions, even when the sales agent owns the licensed business entity. When the sponsoring broker is a licensed business entity, it must have a designated broker to be active.
No, but a license holder is required to provide a written notice to the other party that the license holder is licensed as a real estate broker or sales agent before entering into a contract, including a lease.
IABS , that license holders must use to comply with the statute. The link must be in at least a 10 point font and in a readily noticeable place on the homepage of the business website of the broker and sales agent. TREC requires licensure if the person seeks or has an expectation of compensation for offering to locate a unit in an apartment complex to a prospective tenant.
The listing agent represents the seller and has a duty to present all offers in a timely manner to the seller. There is no prohibition against a license holder presenting more than one offer at a time to a seller. A seller may receive, review and negotiate several offers simultaneously. This form RSC-2 is required only when a residential service company agrees to pay a license holder for a service provided to or on behalf of the company.
The form should indicate which license holders have received or will receive the payment. If a license holder is not receiving a payment from the company, this should be noted as well. For all practical purposes, yes. If a license holder prefills this information, the license holder must ensure that the text of the IABS Form is copied verbatim and that spacing, borders and placement of text on the page appear identical to that in the promulgated IABS Form.
It could be. A broker may not enter into a net listing agreement unless the principal requires a net listing and the principal is clearly familiar with the current market values of real property. Texas law does not permit dual agency.
Under the current law, a broker must agree to act as an intermediary in accordance with the statute if the broker agrees to represent more than one party in a transaction. Yes, as long as the ad complies with Rule When a rental locator represents an apartment complex, the locator needs the consent of the apartment complex. When the rental locator represents a tenant and not an apartment complex, as demonstrated by a written representation agreement or other evidence of representation, the locator is not required to obtain the consent of the apartment complex because the complex is not his client.
Yes, unless the person is an employee of the owner of the apartments or otherwise exempt, residential rental locators are required to be licensed as either a real estate broker or sales agent.
Copy the temporary password from the email message you received when you registered. You will be prompted to create a new password of your own. Once you create your password, you must save it to have future access to your online account. A license holder must disclose the fact that he or she represents a party upon the first contact with another party or a license holder representing another party. This disclosure may be oral or in writing. An unlicensed person may not engage in any activity for which a license is required.
Associated broker means a broker who associates with and is paid through another broker under a relationship that is intended to be a continuous relationship, including but not limited to, an employment or ongoing independent contractor relationship.
An intermediary is a broker who negotiates the transaction between the parties when the broker or a sales agent sponsored by the broker has obtained consent from the parties to represent both the buyer and the seller.
The broker intermediary may, with the written consent of the parties, appoint separate individual license holder associated with the broker to work with and advise the party to whom they have been appointed.
Generally, in Texas, filing an assumed business name is required to put the public on notice that you are doing business under a name other than your legal name.
Pretest questions are not identified and will not affect a candidate's score in any way. Please remember to bring your TREC exam eligibility letter to your fingerprinting appointment. The fingerprinting agent will give you a receipt of services. Save this receipt for your records. You also can call to schedule your fingerprints.
Almost done Classroom, Online, or in the Virtual Classroom! Blended Classroom The best of on-campus classroom and home-study with textbooks. Online-Interactive new! Online-Correspondence Self-paced, online learning with PDF or hardcopy textbook and supplemental chapter videos.
Champions Advantage Choose one delivery method or try them all. Learn More Customize a program to fit your needs by utilizing all of our delivery methods and resources. Principles of Real Estate 1. Blended Classroom. Virtual Classroom.
Online Interactive new. Online Correspondence. Principles of Real Estate 2. Law of Agency. Law of Contracts. Real Estate Finance. Promulgated Contract Forms. Find a Campus Important contact information for campus location. Choose a Campus. Austin Campus. Dallas North Campus. Fort Worth Campus. Houston Galleria Campus. Houston North Campus. Houston West Campus. San Antonio Campus. New Braunfels Satellite Campus.
Contact Information. Austin Campus Test Dallas North Campus Fort Worth Campus Houston Galleria Campus Even though it offers few bells and whistles, sometimes the essential information is all you need.
The mobile capabilities are a big selling feature for us. Kaplan offers a wide variety of instructional options, including home study, on-demand, or live online options. Even though this is the most affordable package on our list, we recommend that you invest in a package that includes the Career Launcher program to jumpstart your business.
Kaplan offers three prelicensing courses for Texas. The first price is the cost of the basic package. The second price includes the Career Launcher Program. You can learn what you need to know to pass the Texas real estate licensing exam from any of the Texas real estate schools schools on our list, but Kaplan wants to help you get started in your career. Because of this, you should upgrade your package and get their Career Launcher class. This eight-hour course will teach you real-world skills you would use in your day-to-day life as an agent.
If you want the ability to learn while on the go, check out Aceable Agent, instead. If you want to switch between live online and on-demand courses, opt for Champions School of Real Estate.
Mbition is known in the national real estate industry for offering top-notch exam prep materials. They offer Texas prelicensing courses as well. Besides offering excellent exam prep materials, Mbition also sells Texas-specific real estate textbooks to help you study for the classes and licensing exams.
This unique offering gives you detailed explanations of all the formulas you need to master real estate math. In addition, MathMaster includes hands-on practice problems, and the program comes in even the most basic package. If help with starting your real estate career is paramount to you, we recommend using Kaplan for t heir packages that include a Career Launcher program as an alternative.
If math isnt your strong suit, choose Mbition to help you over this hurdle. Champions School of Real Estate is similar to Kaplan in that they offer four different delivery methods for their online real estate courses. Champions School of Real Estate has four prelicensing options. They label their classes differently than the other best online real estate schools in Texas.
Champions School of Real Estate prelicensing package prices as of December No other school on our list offers this kind of versatility. Course delivery methods include:. The Champions programs are quite a bit more expensive than any other online real estate school in Texas that made our list.
Read about the various package options and discover when the nearest on-site class starts. Got questions? The Close has answers. Some new agents ease their way into their new careers by working in real estate part-time.
Check out our guide on becoming a part-time real estate agent to see if starting slow is the right move for you. It takes four to five months to earn a real estate license in Texas.
The prelicensing requirements in the state of Texas involve class hours spread across six different courses.
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