Your question: What is the main purpose of the Texas Real Estate License Act quizlet?

The Texas Real Estate License Act purpose is: to protect the public from against unscrupulous brokers and sales persons.

What is the main purpose of the Texas Real Estate License Act?

The Purpose of TRELA

The state legislature of Texas passed the Texas Real Estate License Act to protect the public from brokers and sales agents who are dishonest. TRELA also: Establishes rules that license holders must follow that pertain to obtaining, and later maintaining, a real estate license.

What is the purpose of the Real Estate License Law quizlet?

to protect the general public during real estate transactions from dishonest or incompetent brokers and sales agents, set out minimum standards and qualifications for licensing brokers and sales agents, maintain high standards for the real estate profession, and protect licensed brokers and sales agents from unfair or …

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What is the primary purpose of real estate licensing laws?

These laws define the legal relationship between licensees and the parties to a real estate transaction. They also serve to provide each with a clear understanding of the duties that the real estate licensee will be expected to perform in the transaction.

What is the act in real estate?

What is Act! for Real Estate Professionals? Real Estate Marketing and Selling platform designed to leverage your contacts into relationships, and your relationships into sales.

What are the purposes of Trela?

TRELA lays out the minimum requirements for obtaining a Texas real estate license. It also sets expiration and renewal terms to make it easier to hold licensees to updating standards.

What government entity was created for the purpose of administering and enforcing real estate law?

The California Department of Real Estate (DRE) is a California state agency focused on safeguarding and promoting the public interest in real estate matters through licensure, regulation, education, and enforcement.

Which of the following best describes the overall purpose of FS 475?

Which of the following best describes the overall purpose of F.S. 475? To protect consumers. “The Department” refers to which government entity? The Department of BUsiness and Professional Regulation (DBPR).

What organization establishes rules and regulations and enforces real estate license law in the state of Missouri?

Each jurisdiction has a real estate commission whose primary mission is to protect the public from unqualified real estate practitioners. As such, the real estate commission has the authority to implement and enforce real estate licensing laws.

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What is a latent fact?

A material fact is anything about the property that could affect the decision of whether to purchase the house or affect the offer price. … In short, a latent defect is something wrong with the home and a material fact is something that could change the potential buyers mind about buying the home.

What license is issued by the Department of Real Estate quizlet?

Any individual who wants to operate a real estate office must have: a broker’s license. In a sale of an existing business (Business Opportunity) the real property is transferred: by deed.

What is Rera Act PDF?

The Real Estate Regulatory Authority Act (RERA) was introduced to bring in transparency, accountability, and financial control into the highly disorganized Indian real estate sector. It came into effect on May 1, 2017, and has recorded registrations of 40,000+ real estate agents, and 52000+ projects till date.

What does blockbusting mean in real estate?

Blockbusting refers to the practice of introducing African American homeowners into previously all white neighborhoods in order to spark rapid white flight and housing price decline. Real estate speculators have historically used this technique to profit from prejudice-driven market instability.

What are the included steps in agency disclosure?

To recap, the agency disclosure process has three parts: disclose, elect, and confirm. And always remember that only the employing broker can be a Listing Agent or Selling Agent.