(a)Acceptable core real estate courses are those courses prescribed by §1101.003 of the Act and the following courses. (1)Promulgated Contract Forms (or equivalent), which shall include but is not limited to unauthorized practice of law, broker-lawyer committee, current promulgated forms, Commission [ commission] rules governing use of forms and case studies involving use of forms. (2)(No change.) (b)Applicants must submit evidence of course completion, such as transcripts or course completion certificates, unless the provider has provided or will provide course completion documentation to the Commission [commission]. The Commission [commission] may require an applicant to furnish supporting materials such as course outlines, syllabi and course descriptions. The Commission [commission] may require official transcripts to verify course work. Provided all the requirements of this section are satisfied, the Commission [commission] shall accept core real estate courses or real estate related courses submitted by an applicant for a broker or salesperson license if the course was offered by any of the following providers: (1)a school accredited by the Commission [ commission] or by the real estate regulatory agency of another state; (2) - (5)(No change.) (c) - (e)(No change.) (f)An applicant may obtain credit for completing an approved 30 hour Real Estate Finance core course described by this subsection. Real Estate Finance shall contain the following subtopics, the units of which are outlined in the REF-0, Core Real Estate Course Approval Form, Real Estate Finance adopted by reference in §535.64(h)(5) of this title. (1)The Nature and Cycle of Real Estate Finance - 105 minutes; (2)Money and the Monetary System - 100 minutes; (3)Additional Government Influence - 200 minutes; (4)The Secondary Mortgage Market - 95 minutes; (5)Sources of Funds - 110 minutes; (6)Instruments of Real Estate Finance - 170 minutes; (7)Loan Types, Terms and Issues - 200 minutes; (8)Government Loans - 215 minutes; (9)Lender Loan Processes - 220 minutes; and (10)Defaults and Foreclosures - 85 minutes. (g)[(f)] The Commission [ commission] shall grant classroom credit for qualifying courses as follows. (1)15 hours of classroom credit will be granted for one semester hour. (2)10 hours of classroom credit will be granted for one quarter hour. (3)10 hours of classroom credit will be granted for one qualifying continuing education unit. (h)[(g)] A core real estate course must meet each of the following requirements to be accepted for core credit. (1)The course contained the content required by §1101.003 of the Act or this section. (2)The daily course presentation did not exceed ten hours. (3)The course was of broader applicability than just techniques or procedures utilized by a particular brokerage or organization. (4)The course was not awarded credit by an accredited college or university based on life experience or solely by examination. (i)[(h)] A classroom course must meet the following additional requirements to be accepted for core credit. (1)The course was offered in a location conducive to instruction that is separate and apart from the work area, such as a classroom, training room, conference room, or assembly hall. (2)The student was present in the classroom for the hours of credit granted by the course provider, or completed makeup in accordance with the requirements of the provider, or by applicable Commission [commission] rule. (3)Successful completion of a final examination or other form of final assessment of the student was a requirement for receiving credit from the provider. (j)[(i)] A correspondence course must meet the following additional requirements to be accepted for core credit. (1)The course was offered by or in association with an accredited college or university, and students receiving credit for the course were required to pass either: (A)a proctored final examination administered under controlled conditions to positively identified students and graded by the instructor or, if the examination was graded mechanically or by use of a computer, by the provider, using answer keys approved by the instructor or provider; or (B)an examination by use of a computer under conditions that satisfy the Commission [commission] that the examinee is the same person who seeks course credit. (2)If a correspondence course was offered by a school in association with an accredited college or university, the school has certified to the Commission [commission] that the course was offered in accordance with the college or university's curriculum accreditation standards. Using the name of the school "in association with" the name of the college or university on the course completion certificate or electronic course submission constitutes certification to the Commission [commission] that the course was offered in compliance with the college or university's curriculum accreditation standards. (k)[(j)] A course offered by an alternative delivery method must meet the following additional requirements to be accepted for core credit: (1)The course was certified by a distance learning certification center that is acceptable to the Commission [ commission]; (2)An approved instructor or the provider's coordinator/director graded the written course work; and (3)The provider: (A)ensured that a qualified person was available to answer students' questions or provide assistance as necessary; (B)certified students as successfully completing the course only if the student: (i)completed all instructional modules required to demonstrate mastery of the material; (ii)attended any hours of live instruction and/or testing required for a given course; and (iii)passed either: (I)a proctored final examination administered under controlled conditions to positively identified students, at a location and by an official approved by the Commission [commission ] and graded by the instructor or, if the examination is being graded mechanically or by use of a computer, by the provider, using answer keys approved by the instructor or provider; or (II)an examination by use of a computer under conditions that satisfy the Commission [commission] that the examinee is the same person who seeks credit. (l)[(k)] After twelve months, or fifteen months for alternative delivery courses, from the effective date of a Commission [commission] action dividing a core course curriculum into subtopics, a core real estate course, including an advanced or tiered course, which was previously approved by the Commission [commission] may not be accepted for core course credit unless the course has been revised to meet the new requirements. (m)[(l)] A previously approved core course that is not revised to meet the new curriculum requirements may nevertheless be accepted for elective core credit provided it does not violate §535.54(c) of this title (relating to General Provisions Regarding Education and Experience Requirements for a License).
The agency certifies that legal counsel has reviewed
the proposal and found it to be
within the state agency's legal authority
to adopt.
Filed with the Office
of the Secretary of State on March 4, 2014
TRD-201400985 Kerri Lewis
General Counsel
Texas Real Estate Commission
Earliest possible date of adoption: April 20, 2014
For further information, please call: (512) 936-3092
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