Texas real estate state Study guides, Class notes & Summaries

Texas Real Estate State Exam Questions and Answers Latest (2024 / 2025) (Verified Answers)

Texas Real Estate State Exam Questions and Answers 100% Pass When was TREC created? 1947 TREC has the authority to.. make rules and regulations. It's rules and laws govern license holders TREC has how many commission members? 9 members, 3 represent the general public and 6 are real estate brokers TREC has the power to.. subpoena books, records, and witnesses and issue and revoke real estate licenses If your license is revoked by TREC... You can appeal the decision to the district court Who...

Texas Real Estate State Exam (2023/2024) 100% Pass Real Property land, Improvements attached to the land, and the rights to use them Personal Property right or interest in things of a temporary or movable nature chattel personalty. Ownership transferred by a BILL OF SALE Fixture Personal Property attached in such a way to make it real property. Annexation Process of attaching personal property to real property making it a fixture Severed or Severance Real property being removed becoming pers...

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 ...

Federal interstate land sells Full Disclosure Act - applies to all unimproved land sold interstate. If a buyer or tenant does not receive this report before signing, he may void his contract or lease Appraisers Principles to Value (9) - Highest and Best use, Principle of Substitution, Principle of Conformity, Principle of Increasing and Decreasing Returns, Principle of Contribution, The Principle of Regression, The principle of Competition, The Principle of Change, The Principle of Anticipat...

Which of the following has the authority to suspend or revoke a Texas real estate license? - TREC Which of the following is an element of a listing agreement? - the agreement to pay a stated commission, usually a percentage of the sales price the IRS considers which of the following a violation of independent contractor status? - salesperson is told to work set hours, guaranteed a monthly minimum wage, has his licensing fees paid by the broker the TAR buyer representation agreement in or te...

TEXAS REAL ESTATE SALESPERSON STATE PREP EXAM 2 Latest 2024 Actual Questions and Verified Answers (2024 / 2025) A+ Grade 100% Guarantee Verified by Experts

Which of the following has the authority to suspend or revoke a Texas real estate license? - correct answer TREC Which of the following is an element of a listing agreement? - correct answer the agreement to pay a stated commission, usually a percentage of the sales price the IRS considers which of the following a violation of independent contractor status? - correct answer salesperson is told to work set hours, guaranteed a monthly minimum wage, has his licensing fees paid by the br...

Texas Real Estate State Exam Questions and Answers 100% Verified Real Property - Answer- land, Improvements attached to the land, and the rights to use them Personal Property - Answer- right or interest in things of a temporary or movable nature chattel personalty. Ownership transferred by a BILL OF SALE Fixture - Answer- Personal Property attached in such a way to make it real property. Annexation - Answer- Process of attaching personal property to real property making it a fixture Sev...

Broker's Price Opinion (BPO) A broker's price opinion is the process used by a hired sales agent to determine the potential selling price or estimated value of a real estate property Closing The completion of a real estate transaction in which the buyer receives ownership and the seller receives the contract amount Comparative Market Analysis (CMA) A report comparing the prices of sold homes that are similar to the subject property (called comparables), created by a license ho...