TEXAS REAL ESTATE
Courses included in package: (These are the 6 TREC required classes)
- •Principles of Real Estate I - (30 Hrs)
- • Principles of Real Estate II - (30 Hrs)
- •Promulgated Contracts - Book Format (30 Hrs)
- •Law of Agency - (30 Hrs)
- • Law of Contracts - (30 Hrs)
Principles of Real Estate I
- Principles of Real Estate I is a Texas Real Estate Commission mandatory 30 hour core course that is the foundation for the beginning real estate agent.
- The purpose of this course is to give students a brief synopsis and overview of real estate:
- How real estate is transferred,
- the documents used in transferring it,
- the rules and laws by which real estate agents will perform,
- the meaning of representation and
- how and why properties are appraised.
Principles of Real Estate II
- Principles of Real Estate II is a Texas Real Estate Commission mandatory 30 hour core course that is the foundation for the beginning real estate agent.
- The purpose of this course is to give students a brief synopsis and overview of
- how title to property is transferred,
- the specialty area of leasing and property management,
- the principles of investment and control of land use.
Law of Agency -
- Shall include but not be limited to
- the principal-agent and master- servant relationships, the authority of an agent, the termination of an agent's authority, the fiduciary and other duties of an agent,
- employment law, deceptive trade practices, listing or buying representation procedures, and the disclosure of agency.
Law of Contracts -
- Shall include but not be limited to the elements of a contract, offer and acceptance,
- the statute of frauds, specific performance and remedies for breach, unauthorized practice of law, commission rules relating to use of adopted forms, and
- owner disclosure requirements.
- This course provides an introduction to residential real estate finance information on how to underwrite FHA, VA, FNMA, & FHLMC loans.
- In this course, the basics are discussed regarding applications, appraisals, escrow, title, and credit reports, which includes
- qualifying for loan amounts, and
- verifying income and assets.
- You will also learn how to calculate loan amounts,
- affordable monthly payments,
- hazard and mortgage insurances (Conventional and FHA),
- qualifying ratios and income.
Texas Promulgated Contracts (Textbook course)
- When representing buyers and sellers, one of the most important things a real estate licensee does is to prepare and review offers for them by filling in the blanks of promulgated forms.
- Licensees may not give legal advice and must advise the parties to seek help from their own attorney if a question arises regarding legal rights or remedies.
TEXAS REAL ESTATE CONTINUING EDUCATION REQUIREMENTS
Mandatory Continuing Education (MCE)
- As of January 1, 2005, 6 hours of the 15 total mandatory credit hours must be approved for Mandated Ethics and Legal Topics.
- As a condition of returning to active status, an inactive salesperson whose license is not subject to the annual education requirements of the Texas Real Estate License Act (SAE hours) must provide the commission with proof of attendance of at least 15 hours of continuing education during the two-year period preceding the filing of the application.
- As of January 1, 2005 the licensee must also take 6 hours of legal topics in the form of one 3 hour legal update course and one 3 hour legal ethics course during the two-year period preceding the filing of the application.