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The purpose of Legal Update I is to support Texas license holder competence through the review of recent legislative and TREC rule changes, including changes to TREC promulgated contract forms. The courses include topics relevant to the current practice of real estate in Texas
Chapter 1: TREC Rules, Updates, and Legislative Changes
Chapter 2: Promulgated Contract Forms & Addenda
Chapter 3: Introduction to Fair Housing
Chapter 4: Fair Housing: Do's and Don'ts, Property Management
By the end of this course, you will be able to:
• Describe TREC’s advisory committees that examine different areas of the real estate industry.
• Explain how an idea becomes a TREC rule.
• Describe why TREC’s quadrennial rule review is important to license holders and consumers.
• Identify recent TREC rule changes that affect license holders.
• Understand legislation passed by the 88th Texas Legislature relating to the practice of real estate.
• Summarize the purpose and practice of the Broker-Lawyer Committee (BLC).
• Explain why TREC contract forms change
• Identify recent changes to the One to Four Family Residential Contract (Resale) and other contract forms.
• Analyze possible consequences of loan assumptions and the importance of a license holder’s familiarity with the Loan Assumption Addendum form.
• Distinguish between mandatory and voluntary use of TREC contract forms.
• Understand the impact of discrimination in real estate given the history of civil rights laws, current investigations, and trends.
• Identify federal, state, and local fair housing laws.
• Distinguish between the protected classes found in the Fair Housing Act, Texas Real Estate Commission’s Canons of Professional Ethics and Conduct, TREC Rule Section 531.19, and the NAR Code of Ethics.
• Recognize and define different forms of bias.
• Describe steering and strategies to avoid it.
• Explain appraisal bias, including federal and state initiatives to reduce it.
• Describe best practices for advertising and marketing related to fair housing.
• Recall resources for fair housing information and assistance.
• Understand the rights of tenants with disabilities under the Fair Housing Act.
• Understand the differences between reasonable accommodations and modifications.
Approved States: TX