Aceable level 9 chapter 1

TRELA and TREC Origins

TRELA Remember: The Texas Real Estate License Act (TRELA) is a law that governs the licensing, education, and activities of real estate license holders practicing brokerage in Texas. In 1939, the Texas Legislature passed the Texas Real Estate License Act to govern the licensing and practice of real estate in Texas. It was originally called the Real Estate Dealers License Act but eventually took upon the name Texas Real Estate License Act (TRELA). Today, TRELA is a part of the Texas Occupations Code, Chapter 1101. TREC Remember: The Texas Real Estate Commission (TREC) is a group of nine appointed people who regulate real estate activity and licensees in Texas to ensure laws are followed and consumers are protected. In order to enforce the provisions of TRELA, the Texas Legislature created the Texas Real Estate Commission (TREC) in 1949 (10 years later). TREC's purpose is to oversee the licensing, education requirements, and ethical standards of practice for real estate sales professionals and real estate inspectors within the State of Texas. TREC has the authority to adopt and enforce rules for governing real estate practitioners.

Regulation

Let's take a closer look at what and who TREC regulates. What TREC regulates the activities of: Real estate brokers Sales agents Inspectors Education providers (that's me!) who offer real estate and inspection courses The Commission also regulates the activities of: Residential service companies Timeshare developers Easement or right-of-way developers Who TREC regulates all of the following individuals: Real estate inspectors 🔎 Easement/right-of-way agents 🛣 Education providers for real estate & inspection courses 📚 Developers of timeshares ⛱ Residential service companies 🏠 Real estate brokers and sales agents 🕵️ As a future real estate sales agent, you'll be under the regulation of TREC.

Texas Real Estate Commission

TRELA gives a lot of power, duty, and responsibility to the Texas Real Estate Commission. The Texas Real Estate Commission (TREC) is a group of nine appointed people who regulate real estate activity and licensees in Texas to ensure laws are followed and consumers are protected. TREC and TRELA TRELA is an Act, so it lays out rules. But rules don't do very much if they aren't enforced. That's part of why TREC is so important: TREC enforces the rules and regulations laid out in TRELA. Think of it this way: If real estate were a country, TRELA would be that country's constitution and TREC would be the government who enforces that constitution. TREC members propose new rules, enforce laws, and talk a lot about the good and bad of the real estate business in an effort to keep improving it. Purpose TREC's purpose is to help protect the public by regulating licensed real estate agents, brokers, and practitioners, among others. Because TREC shares a similar purpose to TRELA, it makes sense that TREC enforces TRELA.