(a)(No change.)
(b)Elective qualifying courses. To be approved by
the Commission, the following elective qualifying courses must contain
the content outlined below:
(1)Property Management, which shall contain the following
topics, the units of which are outlined in the PROPM-0, Qualifying
Real Estate Course Approval Form, Property Management, hereby adopted
by reference:
(A)Professional Property Management - 120 minutes;
(B)Feasibility of Property Management - 90 minutes
(C)Marketing Plan - 60 minutes;
(D)Management Operations - 130 minutes;
(E)Owner Relations - 120 minutes;
(F)Market Analysis and Management of Housing - 95
minutes;
(G)Leases - 100 minutes;
(H)Tenant Relations - 115 minutes;
(I)Federal, State and Local Laws - 230 minutes;
(J)Maintenance and Construction - 90 minutes;
(K)Commercial Property Management - 150 minutes;
(L)Risk and Environmental Issues - 110 minutes; and
(M)Safety and Security Issues for Property Managers
and Staff - 90 minutes;
(2)Real Estate Marketing, which shall contain the
following topics, the units of which are outlined in the REM-0, Qualifying
Real Estate Course Approval Form, Real Estate Marketing, hereby adopted
by reference:
(A)Real Estate Marketing - 80 minutes;
(B)The Marketing Concept - 80 minutes
(C)Marketing Research and Data Analysis - 150 minutes;
(D)Prospecting and Target Marketing - 80 minutes;
(E)Technology and Online Marketing - 100 minutes;
(F)Social Media Marketing - 120 minutes;
(G)Product and Pricing Strategies -180 minutes;
(H)Compensation Models - 60 minutes;
(I)Characteristics of a Successful Sales Agent - 150
minutes;
(J)Understanding Clients - 90 minutes;
(K)Negotiating and Selling Skills - 120 minutes;
(L)Steps to Executing Agreements - 50 minutes; and
(M)State and Federal Laws - 90 minutes;
(N)Ethics and Real Estate Professionalism - 150 minutes;
(3) Real Estate Math, which shall contain the following
topics, the units of which are outlined in the REMath-0, Qualifying
Real Estate Course Approval Form, Real Estate Math, hereby adopted
by reference:
(A)Introduction to Real Estate Math - 150 minutes;
(B)Review of Mathematical Logic Formulas - 150 minutes;
(C)List Price, Sales Price and Net Price - 50 minutes;
(D)Property Mathematics - 120 minutes;
(E)Appreciation & Depreciation - 60 minutes;
(F)Real Estate Taxes - 100 minutes;
(G)Mathematics of Real Estate Finance - 400 minutes;
(H)Appraisal Methods - 100 minutes;
(I)Closing Statements - 180 minutes;
(J)Investment Analysis - 90 minutes;
(K)Commercial Lease Calculations - 100 minutes;
(4)Real Estate Appraisal, which shall
contain the following topics, which collectively will consist of 1500
minutes of coursework as outlined in the REA-0, Qualifying Real Estate
Course Approval Form, Real Estate Appraisal, hereby adopted by reference:
(A)Purpose and Function of an Appraisal;
(B)Role of The Appraisal Foundation/ASC/AQB;
(C)Social and Economic Determinants of Value;
(D)Appraisal Math and Statistics;
(E)Site Valuation;
(F)Cost Approach;
(G)Sales Comparison (Market Data) Approach;
(H)Income Capitalization Approach;
(I)Highest and Best Use;
(J)Final Correlations;
(K)Reporting;
(L)Opinion of Value vs. Broker Price Opinion;
(M)Appraisal Case Studies;
(5)Real Estate Investment, which
shall contain the following topics, which collectively will consist
of 1500 minutes of coursework as outlined in the REI-0, Qualifying
Real Estate Course Approval Form, Real Estate Investment, hereby adopted
by reference:
(A)Purpose and Function of an Real Estate Investment;
(B)Real Estate Investment Characteristics;
(C)Residential, Land, and Commercial Investments;
(D)Ownership Interests in Real Property;
(E)Financing for Real Estate Investments;
(F)Managing the Investment Property;
(G)Techniques of Investment Analysis;
(H)The Time Value of Money;
(I)Discounted and Non discounted Investment Criteria;
(J)Leverage;
(K)Tax Characteristics and Strategies;
(L)Applications to Property Tax;
(M)The Transaction: Contract to Closing;
(6)Real Estate Law, which shall contain
the following topics, which collectively will consist of 1500 minutes
of coursework as outlined in the REL-0, Qualifying Real Estate Course
Approval Form, Real Estate Law, hereby adopted by reference:
(A)Legal concepts of Real Estate Law;
(B)Basic Contract Law;
(C)Promulgated Contracts;
(D)Land/Legal Descriptions;
(E)Real Property Rights;
(F)Restrictions and Land Use Control;
(G)Estates in Land;
(H)Conveyances - Voluntary & Involuntary;
(I)Easements, Encumbrances & Liens;
(J)Foreclosures;
(K)Recording Procedures;
(L)Evidence & Transfer of Title;
(M)Landlord & Tenant Relationships;
(7)Residential Inspection for Real
Estate Agents, which shall contain the following topics, which collectively
will consist of 1500 minutes of coursework as outlined in the RIREA-0,
Qualifying Real Estate Course Approval Form, Residential Inspection
for Real Estate Agents, hereby adopted by reference:
(A)Purpose and Function of a Residential Inspection;
(B)Standards of Practice: General Provisions and Departure;
(C)Standard Inspection Report Form;
(D)Inspector and Client Agreements;
(E)Tools and Procedures;
(F)Minimum Inspection Requirements for Structural,
Electrical, HVAC, and Plumbing Systems;
(G)Minimum Inspection Requirements for Appliances;
(H)Optional Systems;
(I)Repair-related Procedure and Forms;
(J)Effect of Local Requirements; or
[(4)other than Property Management,
Real Estate Marketing, and Real Estate Math meet the requirements
of §1101.003 of the Act;]
[(5)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); or]
(8)[(6)] A 30 hour advanced
course on any qualifying course subject matter or a combination of
several different qualifying course subject matter topics as set out
in subsections (a) and (b) of this section.
[(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.]
(c)[(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 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 May 24, 2017
TRD-201702096 Kerri Lewis
General Counsel
Texas Real Estate Commission
Earliest possible date of adoption: July 9, 2017
For further information, please call: (512) 936-3092
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