When was trec created - Study guides, Class notes & Summaries
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Law of Agency - Champions School of Real Estate Latest Update Graded A+
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Law of Agency - Champions School of Real Estate Latest Update Graded A+ The principal is also known as client 
fiduciary relationship a relationship founded on trust and confidence 
Agency Relationship Exists when one person (the agent) acts for, or on behalf of another person (the principal). 
the principal is the one who hires and gives authority to the agent 
Texas Real Estate License Act TRELA Was passed 1939. The purpose is to protect the public against unscrupulous brokers and sales agents...
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Champions Real Estate Principles of Real Estate 1 in 2024 Already Graded A
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Champions Real Estate Principles of 
Real Estate 1 in 2024 Already Graded A 
 
brokerage A business that pertains to overseeing the needs of the parties and completing a 
transaction they may or may not involve agency relationships 
 
Real Estate Development Involves the acquisition of land for development into residential 
subdivisions, retail centers and other commercial uses. 
 
immobility It's a physical characteristic of land that cannot be moved 
 
The demand for real estate is affected b...
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Texas Real Estate Exam STATE Portion Already Graded A
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Texas Real Estate Exam STATE Portion Already Graded A How many members in TREC? 9: 3 general public, 6 brokers 
Who appoints, confirms TREC members? Governor appoints, senate approves 
How many members on the Broker-Lawyer Committee? 13: 6 brokers, 6 lawyers, 1 public member 
Who appoints Broker-Lawyer committee members? Brokers/TREC, Lawyers/Pres of State Bar, Public Member/Governor 
Where is the Real Estate Advisory Committee? Texas A & M 
Who is on the Real Estate Advisory Committee? 10 membe...
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Champions School of Real Estate exam 2024
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The principal is also known as - correct answer client 
 
fiduciary relationship - correct answer a relationship founded on trust and confidence 
 
Agency Relationship - correct answer Exists when one person (the agent) acts for, or on 
behalf of another person (the principal). 
 
the principal - correct answer is the one who hires and gives authority to the agent 
 
Texas Real Estate License Act TRELA - correct answer Was passed 1939. The purpose is to protect the public against unscr...
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Champions School of Real Estate: Law of Contracts|208 Questions and Answers 100% Accurate.
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Texas Real Estate Commission - ANSWER-Created by the legislature in 1949 to carry out the provisions of TRELA 
 
Unauthorized Practice of Law - ANSWER-When license holders add provisions to contracts that go beyond the factual business details they are engaging in.. 
 
Deceptive Trade practices act - ANSWER- 
 
Real Estate Recovery Trust account - ANSWER-Administered by TREC, the purpose of the account is to protect aggrieved individuals who suffer a monetary loss due to illegal acts of license ...
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Champions Real Estate Exam: Law of Agency 2024 Latest Questions With Passed Solutions!!
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This person hires an agent - Answer-The Principal 
The agent works on behalf of this person - Answer-the client (principal) 
This type of agency allows for the greatest range of authority - Answer-Universal 
This is provided to the agent when there is written documentation that the agency relationship exists. - 
Answer-Express authority 
This is the most limited of all the agency relationships - Answer-Special agency 
This type of agency is created when a 3rd party believes that an agent has aut...
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LAW OF AGENCY STUDY GUIDE EXAM QUESTIONS WELL ANSWERED GRADED A+ 2024.
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Fiduciary: - Answer an individual upon whom is placed the highest levels of trust and confidence when acting on behalf of another; specific fiduciary duties include obedience, loyalty, disclosure, confidentiality, accountability, and reasonable care 
 
An agency relationship: - Answer "a fiduciary relationship created wherein one party (the client or principal) authorizes another party (the agent) to represent their best interests and that second party (the agent) accepts the responsibili...
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TEXAS REAL ESTATE STATE EXAM 2024 WITH 100% ACCURATE SOLUTTIONS
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TEXAS REAL ESTATE STATE EXAM 2024 WITH 100% ACCURATE SOLUTTIONS 
 
 
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 
 
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Aceable Agent – Finance Actual Exam And Complete Answers 2024
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TEXAS REAL ESTATE LICENSE ACT (TRELA) 1939 - Answer Who was the first legislation created to govern the real estate profession in Texas? 
 
TEXAS REAL ESTATE COMMISSION (TREC) 1949 - Answer Which commission was created to enforce TRELA (it's main purpose)? Also regulates educational and licensing programs that maintain standards AND interprets legislation that effects the real estate profession, but these are not it's main function. 
 
1. INSPECTORS 
2. EASEMENT/RIGHT OF WAY AGENTS 
3. EDU...
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Texas Real Estate State Certification Exam (2023) – Questions & Answers Verified By Experts (RATED A+)
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When was TREC created? - ANSWER - 1947 
 
TREC has the authority to.. - ANSWER - make rules and regulations. It's rules and laws govern license holders 
 
TREC has how many commission members? - ANSWER - 9 members, 3 represent the general public and 6 are real estate brokers 
 
TREC has the power to.. - ANSWER - subpoena books, records, and witnesses and issue and revoke real estate licenses 
 
If your license is revoked by TREC... - ANSWER - You can appeal the decision to the district court 
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