|
(a)Mandatory qualifying courses. To be approved by
the Commission, the following mandatory qualifying courses must contain
the content outlined below:
(1)Principles of Real Estate I, which shall contain
the following topics, the units of which are outlined in the PRINS
1-0, Qualifying Real Estate Course Approval Form, Principles of Real
Estate I, hereby adopted by reference:
(A)Introduction to Modern Real Estate Practice - 200
minutes;
(B)Real Property - 60 minutes;
(C)Concepts and Responsibilities of Home Ownership
- 95 minutes;
(D)Real Estate Brokerage and the Law of Agency - 180
minutes;
(E)Fair Housing Laws - 150 minutes;
(F)Ethics of Practice as a License Holder - 30 minutes;
(G)Texas Real Estate License Act - 180 minutes;
(H)Legal Descriptions - 100 minutes;
(I)Real Estate Contracts - 135 minutes;
(J)Interests in Real Estate - 180 minutes;
(K)How Home Ownership is Held - 70 minutes; and
(L)Listing Agreements - 120 minutes.
(2)Principles of Real Estate II, which shall contain
the following topics, the units of which are outlined in the PRINS
2-0, Qualifying Real Estate Course Approval Form, Principles of Real
Estate II, hereby adopted by reference:
(A)Real Estate Math - 200 minutes;
(B)Real Estate Appraisal - 200 minutes;
(C)Real Estate Financing Principles - 210 minutes;
(D)Control of Land Use - 115 minutes;
(E)Specializations - 50 minutes;
(F)Real Estate Investments - 110 minutes;
(G)Leases - 95 minutes;
(H)Property Management - 120 minutes;
(I)Estates, Transfers, and Titles - 200 minutes; and
(J)Closing Procedures/Closing the Real Estate Transaction
- 200 minutes.
(3)A combined 60 hour course approved by the Commission,
consisting of both Principles of Real Estate I and II, which includes
the topics for each course as outlined by this section.
(4)Law of Agency, which shall contain the following
topics, the units of which are outlined in the LOA-0, Qualifying Real
Estate Course Approval Form, Law of, hereby adopted by reference:
(A)Agency Concepts - 130 minutes;
(B)Basic Agency Relationships, Disclosure & Duties
to Client - 125 minutes;
(C)Duties and Disclosures to Third Parties - 125 minutes;
(D)Seller Agency - 120 minutes;
(E)Buyer Agency - 150 minutes;
(F)Representing More than one Party in a Transaction:
Intermediary Brokerage - 165 minutes;
(G)Creation and Termination of Agency - 85 minutes;
(H)Clarifying Agency Relationships - 45 minutes;
(I)Employment Issues - 120 minutes;
(J)Agency, Ethics and the Law - 155 minutes;
(K)Deceptive Trade Practices & Consumer Protection
Act - 140 minutes; and
(L)Implementation and Presentation - 140 minutes.
(5)Law of Contracts, which shall contain the following
topics, the units of which are outlined in the LOC-0, Qualifying Real
Estate Course Approval Form, Law of Contracts, hereby adopted by reference:
(A)Texas Contract Law - 155 minutes;
(B)Basics of Real Estate Law - 115 minutes;
(C)Introduction to Contracts - 75 minutes;
(D)Ownership Rights and Limitations - 120 minutes;
(E)Contracts Used in Real Estate - 275 minutes;
(F)The Sales Contract - 135 minutes;
(G)Contingencies, Addenda and Amendments - 105 minutes;
(H)Financing Real Estate - 235 minutes;
(I)Conveyance of Title - 90 minutes;
(J)Transaction Process and Closing - 135 minutes;
and
(K)Common Contract Mistakes - 60 minutes.
(6)Promulgated Contract Forms, which shall contain
the following topics, the units of which are outlined in the PCF-0,
Qualifying Real Estate Course Approval Form, Promulgated Contract
Forms, hereby adopted by reference:
(A)Contract Law Overview - 155 minutes;
(B)Laws, Rules and Regulations - 150 minutes;
(C)Parties, Properties and Financing - 155 minutes;
(D)Covenants, Commitments and Notices - 160 minutes;
(E)Closing, Possession and More - 220 minutes;
(F)The Remaining Promulgated Forms - 205 minutes;
(G)Promulgated Addenda, Notices and Other Forms -
205 minutes;
(H)Other Real Estate Matters - 115 minutes; and
(I)Practice Makes Perfect - 135 minutes.
(7)A combined 60 hour course approved by the Commission,
consisting of both Law of Contracts and Promulgated Contract Forms,
which includes the topics for each course as outlined by this section.
(8)Real Estate Finance, which shall contain the following
topics, the units of which are outlined in the REF-0, Qualifying Real
Estate Course Approval Form, Real Estate Finance, hereby adopted by
reference:
(A)The Nature & Cycle of Real Estate Finance -
105 minutes;
(B)Money & the Monetary System - 100 minutes;
(C)Additional Government Influence - 200 minutes;
(D)The Secondary Mortgage Market - 95 minutes;
(E)Sources of Funds - 110 minutes;
(F)Instruments of Real Estate Finance - 170 minutes;
(G)Loan Types, Terms & Issues - 200 minutes;
(H)Government Loans - 215 minutes;
(I)Lender Loan Processes - 220 minutes;
(J)Defaults & Foreclosures - 85 minutes.
(b)Other qualifying courses. Other acceptable qualifying
courses are those courses approved by the Commission that meet:
(1)the requirements of §1101.003 of the Act;
or
(2)Residential Inspection for Real Estate Agents (or
equivalent), which shall include but is not limited to:
(A)repair-related contract forms and addenda;
(B)inspector and client agreements;
(C)inspection standards of practice and standard inspection
report form;
(D)tools and procedures;
(E)electromechanical systems (plumbing, heating, air
conditioning, appliances, energy-saving considerations); and
(F)structures (lot and landscape, roofs, chimney,
gutters, paved areas, walls, windows and doors, insect damage and
storage areas).
(c)Related qualifying course. Acceptable related qualifying
courses are those courses taken for credit from an accredited college
or university, or course approved by the Commission for continuing
education credit, that a broker is required to take to fulfill licensing
requirements, in any one of the following areas:
(1)accounting;
(2)advertising;
(3)architecture;
(4)business or management;
(5)construction;
(6)finance;
(7)investments;
(8)law;
(9)marketing; and
(10)real estate.
(d)Course Approval forms. All forms adopted by this
section are available from the Texas Real Estate Commission, P.O.
Box 12188, Austin, Texas 78711-2188, www.trec.texas.gov.
The agency
certifies that legal counsel has reviewed
the adoption and found it to be a valid exercise of the agency's legal
authority.
Filed
with the Office of the Secretary of State on November 24, 2014
TRD-201405641 Kerri Lewis
General Counsel
Texas Real Estate Commission
Effective date: January 1, 2015
Proposal publication date: September 5, 2014
For further information, please call: (512) 936-3092
|
