(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.]
(3)[(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.
(4)[(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.
(5)[(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.]
(6)[(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.
(7)Real Estate Brokerage (mandatory
for a broker's license) which shall contain the following topics,
the units of which are outlined in the REB-0, Qualifying Real Estate
Course Approval Form, Real Estate Brokerage, hereby adopted by reference:
(A)The Real Estate Industry - 30 minutes;
(B)Starting a Brokerage Business - 110 minutes;
(C)Ethical & Legal Business Practices - 300 minutes
(D)Analyzing the Market & the Competition - 110
minutes
(E)Managing Risk - 110 minutes;
(F)Financing Your Business - 110 minutes;
(G)Negotiating a Commercial Lease - 100 minutes;
(H)The Marketing Plan - 150 minutes;
(I)Management Style & Structure - 100 minutes;
(J)Recruiting & Hiring - 100 minutes;
(K)Professional Brokerage Competency & Associate
License Holder Productivity - 180 minutes;
(L)Evaluating the Business - 50 minutes;
(M)Growth Opportunities - 50 minutes.
(b) - (d)(No change.)
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 August 20, 2015
TRD-201503260 Kerri Lewis
General Counsel
Texas Real Estate Commission
Earliest possible date of adoption: October 4, 2015
For further information, please call: (512) 936-3092
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