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(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)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)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)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.
(6)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)valuating the Business - 50 minutes;
(M)Growth Opportunities - 50 minutes.
(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
(8)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)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 August 8, 2017
TRD-201702997 Kerri Lewis
General Counsel
Texas Real Estate Commission
Effective date: August 28, 2017
Proposal publication date: June 9, 2017
For further information, please call: (512) 936-3092
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