TX Real Estate study guide
TX Real Estate · Work through your exam, one topic at a time.
The Texas Real Estate Sales Agent license is issued by the Texas Real Estate Commission (TREC), the state agency whose site covers real estate brokerage licensing, inspections, easement and right-of-way agents, education providers, and timeshare plans. The credential is for people who want to act for others in buying, selling, or leasing real property under a sponsoring broker. The TX Real Estate study guide has 8 sections and about 3,152 words.
01Agency and Fiduciary Duties
Texas does not use the term "dual agency." Under the Real Estate License Act (Occupations Code Ch. 1101), a broker may act as an intermediary between parties to a transaction only with the written consent of both parties .
353 words, about 2 min02Contracts and Promulgated Contract Forms
Texas license holders must use TREC-promulgated forms for the transactions they handle. The workhorse is the One to Four Family Residential Contract (Resale) .
370 words, about 2 min03Real Property Ownership, Interests, and Encumbrances
Fee simple absolute is the most complete ownership; lesser freeholds (life estate, fee simple determinable) limit use or duration. Co-ownership in Texas comes in three main flavors: tenancy in common (no survivorship, unequal shares allowed), joint tenancy with right of survivorship (must be created expressly in writing), and community property , because Texas is a community property state.
358 words, about 2 min04Financing and Lender Requirements
The promissory note is the promise to pay; the deed of trust is the security instrument that lets the trustee foreclose. Texas foreclosures are non-judicial, with notice of sale and a sale held on the first Tuesday of the month at the courthouse.
325 words, about 2 min05Leasing and Property Management
A lease longer than one year must be in writing under the statute of frauds. Residential tenancies are governed by Texas Property Code Chapter 92; commercial tenancies by Chapter 93.
356 words, about 2 min06Real Estate Mathematics and Closing Statements
Every line is a debit (money paid) or credit (money received) to one party, and a seller's debit is normally the buyer's credit. Seller credits: sales price, prorated rent, deposits held by the seller's agent.
351 words, about 2 min07Specialized Transactions and Property Types
Commercial and investment questions focus on NOI, cap rate, lease structure (NNN versus gross), estoppel certificates, and environmental risk (Phase I ESA). Farm and ranch questions focus on severed mineral estates, water rights, wind and solar leases, and agricultural valuation.
322 words, about 2 min08Licensing Law, TREC Rules, and Ethics
TREC administers the Real Estate License Act. A sales agent applicant completes 180 qualifying education hours , passes the exam, and is fingerprinted.
717 words, about 4 min