Our licensees are governed by the Texas Real Estate Licensing Act, the Inspector Act and the Timeshare Act. These laws establish the composition of the Commission and its advisory committees and describe the procedures by which a person can become a holder of a real estate license in Texas. The Texas Legislature established the Texas Real Estate Commission (TREC) in 1949 to protect consumers in real estate transactions and valuation services. TREC shares staff members and resources with the Texas Assessor Licensing and Certification Board (TALCB), established as a separate subdivision of TREC in 1991, when federal law required greater regulation of appraisals.
Together, TREC and TALCB oversee real estate brokerage, real estate appraisals, inspections, right-of-way services and timeshare. The agency provides licensing, education and complaint investigation services, as well as regulation and enforcement of state laws and requirements that govern each of these areas of service to consumers in Texas. In 1939, the Texas Legislature passed the Real Estate Agent Licensing Act to regulate the licensing and practice of real estate in Texas. It eventually took the name of the Texas Real Estate Licensing Act.
The Texas Real Estate Commission (TREC) is a state office that sets requirements for real estate professionals. Get Unlimited Study Guides and Practices for Seller and Broker Exams. The TREC also manages a fund known as the Real Estate Recovery Trust Account, which they use to reimburse consumers who have lost money due to fraudulent or incompetent actions of a real estate licensee. Six of these members must be involved in the real estate brokerage business at the time of their appointment and must have a minimum of five years of real estate experience.
Once a potential real estate agent has met the requirements, they are allowed to take the exam and, if they pass, receive their license. The state puts a lot of work into regulating housing inspectors because they are very important to real estate work. The Texas Real Estate Act (TRELA) is state legislation that sets standards for how real estate agents behave in Texas. In addition to mastering the traditional aspects of the real estate broker's work, there is a new technology, which is extremely important in the real estate world.
The primary purpose of the Texas Real Estate Commission is to protect consumers in real estate transactions by maintaining qualified and licensed brokers and agents. If interested, ask your real estate training school how long it takes to complete these class hours. The Texas Real Estate Licensing Act was originally called the Real Estate Dealer Licensing Act, which was passed in 1939. After qualifying to become a Texas real estate sales agent, the professional must find a broker to work with.
Other related work will involve hiring clients and moving forward with real estate brokerage services for each client. For anyone looking for real estate training in Texas to get a state license, it's also a good idea to invest in informal real estate research. Real estate agents will have the ability to sell real estate directly and sponsor and supervise sales agents. Over time, TREC became responsible for regulating real estate professionals beyond vendors and brokers, including inspectors, education providers, timeshare developers, and more.
Home inspectors should be familiar with the law as it applies to real estate liability for faulty or malfunctioning systems. .