This 15 hour MCE package includes everything you need to renew your real estate license in Texas. Click the “add to cart” button to enroll, complete the course and you’re done. We will report your credits to TREC for you.

What’s included?

• TREC Legal Update Course (3 Credit Hours – Mandatory Class)
• TREC Ethics Update Course (3 Credit Hours – Mandatory Class)
• Real Estate Math Course (3 Credit Hours – Elective Class)
• Real Estate Appraisal Course (3 Credit Hours – Elective Class)
• Estimating the Gross Living Area Course (3 Credit Hours – Elective Class)

Course Description

TREC Legal Update (2009 – 2010)

The purpose of this course is to communicate recent updates, changes, and addendum to laws, regulations, legal definitions, and forms as they apply to real estate practice in the state of Texas. (View Details)

TREC Ethics Update (2009 – 2010)

The Texas MCE Ethics Update was written to provide guidance and discussion of the ethical requirements and concerns affecting a real estate agent. We will start of with the five canons of professional ethics and conduct, discuss managing agency relationships and explore the specific requirements for agents in making offers to clients, disclosures of information, and resolving any disputes that may arise in the course of real estate transactions. (View Details)

Real Estate Math

This MCE course covers math principles essential to the practice of real estate. It is important that licensees understand the mathematical concepts presented here in order to be competent in the practice of real estate. The course will elaborate on how the subject matter pertains to real estate in everyday use. (View Details)

Real Estate Appraisal

An appraiser must conduct him or herself professionally, ethically and honestly. TREC has outlined professional and ethically correct behavior and these guidelines are covered in this course. In a nutshell, the entire appraisal process should be carried out impartially and this course will teach you how. (View Details)

Estimating the Gross Living Area

This continuing education course describes the procedures for measuring the total square footage of detached single-family homes and multi-family gross building areas. We will introduce you to industry standards for the calculation process that enable agents to obtain accurate and reproducible measurements for total gross living area of residential properties. (View Details)

Topics Covered

It includes the following lessons:

• Real Estate Closings
• Expenses
• The HUD-1 Settlement Statement

In addition, this module includes a final practice lesson. This concluding lesson presents real-world dilemmas and concrete applications of the information presented in the rest of the course. As the student completes this module, he or she should develop a broad picture of closing and settlement procedures and should understand how they fit into the larger practice of real estate. The last lesson will help with this project by presenting comprehensive content questions, practice problems and case studies.

Approved Course Number:

04-00-100-7469

Before entering into a legally binding agreement, real estate professionals must fully understand the contracts that govern their industry. Failure to understand contracts opens a licensee to various kinds of liability and can seriously damage one’s professional reputation. Therefore, it is vital that real estate professionals learn this material so that they can protect themselves against errors, oversights and misunderstandings.

In this module, the student will learn about the types of general contracts as well as the different kinds of real estate contracts. The module begins by providing the student with an overview of the various types of contracts: bilateral, unilateral, implied, express, executed, executory, valid, void, voidable and unenforceable. Once the student is introduced to the different types of contracts, he or she learns what makes a contract legally enforceable, this being the five components that make a contract valid: mutual assent, legally competent parties, consideration, lawful objective and adherence to a statute of frauds.

Topics Covered

This module includes the following lessons:

• Introduction to Contracts
• Contract Fulfillment
• Real Estate Contracts
• Contracts, Purchase and Sales Agreements in Texas

The fourth and concluding lesson in this module presents real-world dilemmas and concrete applications of the information presented in the rest of the course. As the student completes this module, he or she should try to develop a broad picture of environmental issues and how they fit into the larger practice of real estate; the last lesson will help with this project by presenting comprehensive content questions, practice problems and case studies.

Approved Course Number:

04-00-100-7470

This is an introduction to the financial option of leasing. The course presents the student with a comprehensive study of residential and commercial leases, describes the various types of leases and explains the characteristics of lease agreements. The process of lease origination, execution and termination are covered in depth.

The course also describes leases in the context of landlord and tenant law. It explains the importance and the usage of lease agreements in drafting and executing a rental agreement.

This Leases Course utilizes interactive technology and audio in an appealing way to facilitate the learning of the leasing process.

Learning Objectives

At the conclusion of your study material, you should be able to:

• Understand the importance of the rental market within the national housing market
• Describe what a lease is and who the signatories on a lease contract are
• Explain the characteristics that make a lease legally enforceable
• Identify and explain the terms and elements of a lease agreement
• Differentiate between the different types of tenancy agreements and their respective characteristics
• Be able to calculate lease amounts for gross, net and percentage leases
• Understand the landlord’s rights and responsibilities in a lease agreement
• Understand the tenant’s rights and responsibilities in a lease agreement
• Comprehend the importance and validity of the Federal Fair Housing Act
• Explain the key characteristics of the Uniform Residential Landlord Tenant Act of 1972
• Differentiate between commercial and residential leasing
• Understand the different types of commercial lease agreements
• Understand the applicative nature of the Americans with Disabilities Act within commercial leasing
• Identify the various ways in which a lease agreement may be terminated
• Describe causes of termination
• Describe eviction procedures

Approved Course Number:

04-00-100-7476

Environmental hazards can dramatically affect a property’s value, so buyers, sellers, lenders and licensees all can be affected by them. Students will learn throughout this module to identify internal and external environmental issues. They will learn about health hazards, environmental legislation, liability and responsibility for cleanup and protection. They will also learn about actions they should take and how issues affect licensees and lending. Licensees are not expected to be environmental experts, but in this module students will acquire a competency with environmental issues which will help them to elucidate issues for buyers, sellers and lenders. Knowledge of environmental issues also will help protect them from charges of nondisclosure. The conclusion of this module presents real world dilemmas and applications of the information presented. As the student completes this module, he or she should try to paint a big picture of environmental issues, which the module will address with comprehensive content questions, practices and case studies.

Topics Covered

• INTRODUCTION
• Lesson 1: The Indoor Environment
• Lesson 2: The External Environment
• Lesson 3: Legislation
• Lesson 4: Disclosure and Site Assessment
• Lesson 5: Real-Estate Practice

Learning Objectives

• Identify recent laws that have an impact on environmental issues, including lead-based paint disclosure laws
• Know the procedures used to locate toxic waste sites, the responsibilities for cleanup and steps that may be taken to minimize future liabilities
• Understand the nature of major air pollutants and the remedies that may be applied to minimize their effects
• Be able to list at least three sources of human exposure to PCBs and at least two effects of this PCB exposure on humans
• Understand landowners’ responsibility for the protection of wetlands areas on their property
• Identify the issues landowners and developers face regarding endangered-species protection
• Comprehend the nature of electromagnetic forces and the possible need for testing
• Be able to describe at least two major provisions of the Small Business Liability Relief and Brownfields Revitalization Act
• Know the current status of environmental laws and their effect on property insurance and mortgage lending

Approved Course Number:

04-00-100-7472

Topics Covered

This module addresses the following topics:

• Introduction to Fair Housing
• Discrimination
• Additional Legal Protections to Prevent Discrimination
• Enforcement of Fair Housing Laws
• Avoiding Discriminatory Practices
• Real World Practice
• Texas State Laws and Regulations

Learning Objectives

Upon completion of this course the student will:

• Understand the purpose of the Federal Fair Housing Laws and be able to identify the protected classes covered by the Fair Housing Act.
• Be aware of the seven activities considered illegal as a result of the Fair Housing Laws.
• Know the five exemptions from the Federal Fair Housing Laws for property owners.
• Be able to recognize discrimination in real estate practice.
• Be able to identify acts considered discriminatory under the Fair Housing Act of 1968 as amended in 1972 and 1988.
• Understand the purpose of the Federal Equal Credit Opportunity Act (ECOA) and know the classes it protects.
• Understand the purpose of the Americans with Disabilities Act ADA).
• Know how the ADA affects real estate practice.
• Know how Fair Housing Complaints are handled.
• Know the penalties for non-compliance with Fair Housing Laws.
• Know how to incorporate business practices designed to prevent discrimination by real estate professionals.
• Understand the purpose of the HUD/NAR Partnership and why it is important.
• Know the most important principle in following HUD Advertising Guidelines.
• Be able to identify acceptable and unacceptable words and phrases for use in advertisements.
• Have learned how to apply those practices that will assist a REALTOR® in evidencing that he or she does not discriminate.
• Know what the differences are between federal regulations and Texas State regulations on fair housing.

Approved Course Number:

04-00-100-7474

We will cover a property manager’s basic functions, including administrative duties, leasing practices and the manager’s legal relationships with the owner and the tenants of the property. The course also discusses the way to construct a management agreement so that the manager and the owner clearly understand one another’s roles. Licensees will benefit from understanding the various types of property management, as well as the duties that successful property managers must perform.

Learning Objectives

Upon completion of this course, the student will be able to:

• Describe the purpose and the various kinds of property management.
• Outline the manager’s legal relationship with the owner.
• Identify the day-to-day tasks of the property manager.
• Describe effective ways for a property manager to interact with tenants and potential tenants.
• Recognize the various types of leases and leasing procedures.

Approved Course Number:

04-00-100-7479

The Internet presents an unprecedented opportunity for real estate professionals. Licensees and firms can create Web sites to advertise their services and their listings incorporating pictures of homes, tours, promotions, property information and MLS listings. It is very important that licensees include their Web site name in all advertising efforts; sites should incorporate direct-response marketing and should include effective branding techniques. Because many people begin their online search for a home with search engines, site operators need to optimize their sites. Site operators can create VOWs or integrate IDX on their Web sites to incorporate MLS searches.

Web sites are designed primarily to generate contacts. In many cases Web site visitors first contact a real estate professional by email. Thus, it is crucial that real estate Web site owners master their email skills. This course offers specific advice on how to use email effectively and discusses spam and its implications for real estate professionals.

Learning Objectives

Upon completion of this module, the student will:

• Understand the effects of disintermediation on real-estate professionals
• Be able to explain the issues that apply to Internet Data Exchange and Virtual Office Websites
• Have increased knowledge about the basic components of and terms related to the Internet
• Know how to generate contacts through the development of an effective website
• Evaluate and be able to implement Internet marketing methods
• Understand important guidelines for writing e-mails that will help generate effective dialogues

Approved Course Number:

04-00-100-7484

In accordance with TREC rules Sections 535.71 and 535.72D, the first two lessons of the course seek to provide a method of real estate purchase using pretax dollars and of growing the estate within a qualified product. We will discuss the application of current tax advantages of using both qualified and non-qualified tax products such as IRA’s, SEP IRA, 401k, Roth IRAs and charitable gift annuities. The use of these applications will provide the real estate professional with the opportunity to create a long standing and profitable relationship with his or her clients, as well as attracting a more sophisticated investor wishing to find an alternative to 1031 exchanges.

The final lessons of this module will explain the many important aspects of Internal Revenue Code Section 1031. The course will focus on the benefits of the 1031 exchange for the investor, licensed real estate agent/broker and other parties to the transaction. Upon completion of this course, the student will learn which properties qualify under Section 1031 and how to use the various types of 1031 exchanges to enhance the client’s position in the investment real estate market.

Learning Objectives

Upon completion of this module the student will:

• Be able to identify motivated buying and selling clients.
• Know the attributes of qualified and non-qualified products and how they can be of benefit to the sales process.
• Be able to identify the restrictive rulings of the 1031 exchange program.
• Know how money can be accumulated using pre-tax dollars, accumulate interest on a tax-deferred basis, and create litigation protection.
• Know charitable strategies of creating income and tax relief for individuals or families owning highly-appreciated real estate.
• Know about Charitable Gift Annuities, and the annuity payments, income benefits and tax advantages associated with them.
• Know the parameters that the IRS uses to define a valid like kind exchange.
• Know the pros and cons of various exchanging alternatives.
• Know the mechanics of a successful tax-deferred exchange and the role of each party in those exchanges.
• Be familiar with exchange documentation and the role of a qualified intermediary.
• Understand what constitutes “boot” and how to deal with it.
• Know how to calculate whether a sale is to be preferred over an exchange.

Approved Course Number:

04-00-100-7483

In accordance with TREC rules Sections 535.71 and 535.72D, this module will help the student become familiar with the basic legal concepts and forms used in listing real property and the different types of listing agreements available. In addition, it presents an overview of the listing process through a step-by-step review of the basic listing form and contents.

Although listing agreements vary from broker-to-broker and state-to-state, the underlying core content, form and most of the legal implications associated with them, remain the same. It is these core concepts that this course will address; and, consequently, upon completion of this course, the student will know how to successfully obtain listings (through prospecting and other means), how to maintain listings through quality representation and how to retain loyal clientele and gain referrals for future business.

The conclusion of this module presents real world dilemmas and applications of the information presented. As you complete this module, try to keep in mind how it will impact your role in the field as a real estate licensee, and how you assist consumers.

Learning Objectives

Upon completion of this course, the student will be able to:

• Describe the broker/owner relationship.
• Outline the legal aspects of the broker/owner relationship and other responsibilities created by listing agreements.
• Identify various types of listing agreements and explain the differences they make in a business relationship.
• Explain the listing process and the basic marketing strategies needed to obtain listings.
• Describe the basic concept of Comparative Market Analysis (CMA) and the process involved in preparing one.
• State the basic content and form of a listing agreement.
• Name other forms typically executed along with a listing agreement, including forms required by federal law and others required by most states.
• Describe marketing strategies needed to obtain a buyer while maintaining customer loyalty.

Approved Course Number:

04-00-100-7478

This course covers the theories, rules, duties and activities that guide the real estate appraisal process. An appraiser must also conduct him or herself professionally, ethically and honestly. There are guidelines regarding professionally and ethically correct behavior of appraisers as well which are also covered by this course. The entire appraisal process should be carried out in the best possible way for consumers and licensees as well as the real estate market.

Learning Objectives

Upon completion of this module, the student will be able to:

• Understand the basics of and common terms relating to real estate value estimation and appraisal.
• List the traits that a qualified appraiser must possess.
• Identify the value principles applied in the appraisal of property.
• Employ the value theories in the appraisal process to calculate the price at which property should be traded.
• Identify the characteristics that a real estate market should have to promote trade of property.
• Discuss the three value approached in detail.
• Pursue the eight steps of real estate appraisal to reach a purchase price for a property.
• Understand an appraisal report.
• Know the difference between an appraisal certificate and license.

Approved Course Number:

03-00-100-7480

This module addresses the following topics:

• Personal and Real Property Ownership
• Land Description
• Controlling Development
• Real Estate Practice Lesson

In accordance with TREC rules, Sections 535.71 and 535.72D, this module will describe how different commodities—land, real estate, and real property – transfer and are related and to one another. In addition, the student will learn about land use theory and come to understand how our federal, state, municipal and private authorities govern and plan our communities. This module covers legal descriptions as well as informal descriptions, the development of these concepts and the role they play in the real estate industry.

This module’s final lesson presents real-world dilemmas and provides opportunities to apply the information covered in the rest of the course. As the student completes this module, he or she should try to develop a broad understanding of real property use and to place this understanding within the larger context of real estate practice as a whole. This final lesson aims to help the student achieve this goal using comprehensive content questions, practice examples and case studies.

Learning Objectives

Upon completion of this module, the student will be able to:

• Describe the difference between land, real estate and real property.
• Recognize the difference between real property and personal property.
• State the definition of a fixture.
• Explain the general character of surface, subsurface and air rights, as well as littoral and riparian rights.
• Outline the basic features of the metes and bounds survey method and the rectangular survey method.
• Distinguish the vertical method of land description from other survey methods.
• Name the basic public and private methods employed to control the use and development of land.
• Outline the “highest and best use” theory of land use.

Approved Course Number:

03-00-100-7482

We will cover broad issues and describe the procedures for measuring the total square footage of detached single-family homes and multi-family gross building areas. The methods employed are the industry standard for the calculation process and enable the users of this information to obtain accurate and reproducible measurements for total gross living area of residential properties. You will learn how to treat the finished areas above- and below-grade, the finished living area above the garage, and the unfinished areas within the structure. The standard will allow individuals and organizations to agree and cooperate in communicating these square footage quantities to users of this information.

This standard promotes these goals in the hope that square footage calculation can become an item of agreement rather than a point of contention between groups with different interests and concerns.

This Estimating Gross Living Areas for Residential Properties course utilizes interactive technology and audio in an appealing way to facilitate learning.

Learning Objectives

Upon completion of this course, the student will be able to:

• Define the American National Standard for Single-Family Residential Buildings (ANSI) and associated definitions.
• Understand the scope and purpose of the ANSI.
• Employ the calculation and measurement of square footage.
• Comprehend the Statement of Finished Square Footage.
• Calculate and measure estimated gross living area according to floor plans.
• Identify the different values associated with real property, namely market value.
• Determine the forces affecting market value.
• Apply the appraisal process with regards to the Bundle of Rights and the appraisal process flow chart.
• Define the Uniform Standards of Professional Appraisal Practice (USPAP) and various rules that accompany the USPAP.
• Identify the components of valuation analysis.
• Review a summary of the course and guidelines used for the estimation of the gross living area.

Approved Course Number:

03-00-100-7473

This Real Estate Math course utilizes interactive technology and audio in an appealing way to facilitate learning.

Learning Objectives

Upon completion of this course, the student will be able to:

• Name key terms used in real estate math problems.
• Apply fractions, decimals and percentages.
• Translate fractions into decimal and percentage forms.
• Determine the area and volume of a given object or parcel.
• Manipulate the principles involved in rate calculations.
• Grasp the concept of amortization.
• Comprehend the principles of prorating and how to apply them.
• Understand and solve for appreciation and depreciation.
• Identify and apply calculation formulas to determine value and profit.
• Apply interest rates and loan discount rates.
• Use equations to calculate interest.

Approved Course Number:

03-00-100-7481

This course presents an overview of the home inspection business and explains how it fits into the real estate industry as a whole. In addition, the course covers the regulatory bodies and professional organizations associated with home inspection. At the conclusion of this course, the student will understand the methods used to inspect homes, will know what to look for when examining properties, both inside and out, and will understand the various types of inspection reports and the differences between them.

Learning Objectives

Upon completion of this course, the student will:

• Understand the development of home inspection in the inspection business.
• Appreciate an inspector’s role at closing in residential sales transactions.
• Know the tools needed and conduct expected in the field.
• Distinguish various field report styles and know the benefits and drawbacks to each.
• Understand an inspector’s professional liability.
• Recognize the steps in the examination process.
• Identify common misconceptions about home inspection.
• Value membership to a reputable, non-profit home inspection organization.
• Know the extent of home inspection legislation.
• Appreciate the different ways states regulate the home inspection industry.

Approved Course Number:

03-00-100-7475

The first lesson of this module reviews the requirements of a legally enforceable contract. A deed is a legal contract between two parties for land conveyance; therefore, the requirements for a deed to legally convey the title to real property are also reviewed and explained in detail.

The second lesson of this module covers types of deeds and their different uses. Types of deeds for voluntary land conveyance differ in the extent of covenants and warranties on the title that are offered to the grantee. The most common types of deeds for voluntary land conveyance are general warranty deeds, special warranty deeds, bargain and sale deeds and quitclaim deeds. The lesson then identifies other types of deeds that may be used for special purposes.

All states have distinctive legislation pertaining to title conveyance. As a result, the third lesson of this module outlines relevant state statutes that affect the creation and execution of deeds, including those that differentiate between the unauthorized practice of law and the lawful role of real estate professionals.

The last lesson in this module is a real estate practice lesson in which the student is presented with real world situations that licensees might face in the field. This lesson gives the student an opportunity to employ his or her new knowledge, and to use the material in this module to properly manage ethical predicaments and problematic transactions.

Approved Course Number:

03-00-100-7471

The first lesson presents a general overview of liens. It explains the classification of liens and discusses the types of non-tax liens. Lesson two discusses taxes and tax issues, including ad valorem taxes, real estate tax computation, special assessments, real estate transfer taxes, federal income taxes, capital gains taxes and tax shelters for homeowners and investors. It also discusses the priority of liens. Lesson three addresses the methods of foreclosure, redemption, deficiency judgments, tips for homeowners facing foreclosure and fraudulent behaviors related to foreclosure.

The conclusion of this module presents real world dilemmas and applications of the information presented. As the student completes the module, he or she should try to paint a big picture of the issues surrounding liens, taxes and foreclosures, which the module addresses with comprehensive questions, activities and case studies.

Approved Course Number:

03-00-100-7477

In accordance with TREC rules Sections 535.71 and 535.72D, in this course, you will learn the basics of the different types of loans available, loan applications, appraisals, escrow, titles and credit reports, including qualifying for loan amounts and verifying income and assets.

Upon completion of this module, the student will know how to calculate loan amounts, estimate monthly payments, property taxes, hazard and mortgage insurance (for conventional, FHA and VA) and qualifying ratios and income.

Learning Objectives

Upon Completion of this course, the student will:

• Understand the basic concepts of real estate financing, and the key terms involved
• Know how to qualify a buyer for the most common types of loans
• Be familiar with the use and function of escrow accounts
• Know what a Mortgage Insurance Premium is
• Know the underwriting guidelines and process
• Be familiar with the three most common types of loans: Conventional, FHA and VA
• Know the advantages and disadvantages of conventional loans
• Know how to use conventional qualifying ratios
• Know the advantages and disadvantages of FHA loans
• Know about the differing FHA qualification ratios
• Know the advantages and disadvantages of VA loans
• Be familiar with VA eligibility and qualification periods
• Be able to calculate the amount of VA entitlement used
• Be able to calculate VA loan amounts and required down payments
• Know the process and qualifications for assuming VA and FHA loans
• Be familiar with other types of loans available
• Know how to underwrite and close loans

This NTREIS Listing training course will introduce and familiarize the members of the North Texas Real Estate Information Services, Inc. with an Internet only based Multiple Listing Service and to assist them in their marketing ability to list and sell properties online. The course will focus on the ability to search for properties in a variety of ways, integrate tax information using an online tax database, create maps of properties and the areas around it, download pictures and virtual tours, set up auto-notification, find statistical reports, create a prospect data base and learn how to use the new transaction management online platform.

The course is broken down into four lessons:

1. Introduction to NTREIS
2. Using NTREIS
3. NTREIS Tax Training
4. NTREIS Transactions

Approved Course Number:

02-00-051-8145

This module provides an introduction to the basics of asset management. It introduces the student to the key ideas and concepts of management as well as the techniques a manager will use to evaluate the market and evaluate the financial impact of alternatives in order to make properly informed decisions. The student will learn how to handle distressed properties and how to successfully market a revenue-increasing strategy.

The module ends with case studies and real world practice, which will aid the student in becoming confident and familiar with the various aspects of asset management.

Learning Objectives

Upon completion of this module, the student will:

• Be familiar with the basic concepts of asset management
• Be familiar with the common decisions faced by an asset manager
• Know what a Real Estate Investment Trust (REIT) is and the benefits of investing in one
• Understand the risks and rewards associated with real estate investment
• Know how to conduct a useful market study
• Understand how interest rates affect the real estate market
• Be able to calculate the depreciation of residential and commercial real property held for business or investment
• Be familiar with the financial ratio methods of valuation, including Price to Earnings Ratios and Cap Rates
• Know how to create a pro forma projection for a real estate investment alternative
• Know the basics of a Discounted Cash Flow (DCF) analysis
• Know how to use the Net Present Value (NPV) and Internal Rate of Return (IRR) to compare the values of several alternatives
• Be familiar with distressed properties and how to handle them
• Know the important factors to consider when refinancing
• Be able to apply these concepts in the real world

Assessments

• Quizzes – There is a quiz at the end of each lesson to test comprehension of the subject matter.
• Final Exam – Passing Grade 70%. You can take the final three times.

Approved Course Number:

03-00-059-5968

The relationship between a real estate agent and a client is a fiduciary one, requiring each agent to put clients interests first and adhere to the particular standards and ethics required by law. The varied responsibilities and duties of the real estate agent to different parties may often lead to conflicts of interest. Real estate agents must be aware of these potential conflicts and be aware of how to prevent and deal with them.

The course discusses the specific requirements for agents in making offers to clients, disclosures of information, and resolving any disputes that may arise in the course of real estate transactions. When agents fail to meet the required ethical standards or satisfy other legal requirements they are subject to disciplinary action. This course includes case studies, which help to explore the ethical situations that agents may face, and the potential consequences that may occur when agents fail to behave in accord with the ethical requirements that govern their business transactions. The course concludes with a question and answer exercise about Disclosure of Agency and Intermediary Practice.

Learning Objectives

• Discuss procedures the commission is required to adopt during informal dispositions so as to expedite discipline and avoid formal proceedings.
• Distinguish between when an Information about Brokerage Services form is and is not required.
• State a situation when licensees are not subject to an intermediary’s duty of impartiality.
• Describe what must happen when a broker orally agrees to represent a buyer.
• Discuss minimum services that property managers, builders and sealed bid proceedings must provide, as they relate to technical questioning in compliance with the Real Estate License Act.
• Explain in what instances a party to a real estate transaction may sue a broker for violation of the Deceptive Trade Practices Act (DTPA).
• Explain reasons why the DTPA is particularly hard on brokers who merely rely on the information furnished them by home owners.
• Distinguish between truthful and misleading advertising.
• Explain why mediation should be understood as distinctive from making decisions or granting awards.
• Summarize court case legislation and consequent disciplinary actions.

Assessments

• 7 quizzes with 10 questions each
• 1 final exam with 30 questions

Approved Course Number:

03-03-129-6505

In addition to learning about the recent changes in the legal environment of real estate, students will learn about the blurred distinctions between legal and unethical practices. Since this distinction can be difficult to interpret, understanding the dangers involved in the practices discussed in Section 5 will help students to avoid potential legal pitfalls.

Learning Objectives

• Explain changes to the Real Estate License Act (TRELA) in 2007.
• Name commission adopted limited warranties affecting builders.
• Demonstrate the manner in which licensees should advise clients when mineral rights may be at issue in residential transactions.
• Explain why an option to buy is now an executory contract under law.
• Explain the legal acceptance of electronic records and signatures resulting from the Uniform Electronic Transactions Act (UETA).
• Identify common mistakes made in completing contractual forms.
• Recall recent case law, describing the significance of court rulings.
• Distinguish between mortgage fraud, sub-prime lending, and predatory lending and how their impact affects the real estate market.
• List revised contractual forms and their substantive changes.