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Commission Duties And Powers
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Agency / Brokerage
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The Key To Passing The Texas State Exam Is Understanding The Topic Areas
Monday's Free Key Points
Key Point's are important bullet points that relate to Texas state exam topic areas.
Commission Duties And Powers | The Texas Appraiser Licensing and Certification Act (TALCA) sets forth the regulations and requirements for licensing and certification of real estate appraisers in the state of Texas. |
Licensing | Assisting in the leasing or renting of real estate properties, including residential and commercial leases, typically requires a real estate license. |
Standards Of Conduct | Failing to act in the best interests of clients, breaching fiduciary duties, or failing to disclose conflicts of interest are grounds to suspend or revoke a real estate license. |
Agency / Brokerage | After receiving the written agency disclosure, the prospective client or customer is required to acknowledge receipt of the disclosure and provide written consent to the desired agency relationship. |
Contracts | If the property is located within a designated flood hazard area, the floodplain disclosure notice must also inform the buyer of the requirements for obtaining flood insurance through the National Flood Insurance Program. |
Special Topics | In the event of the death of a spouse, community property passes to the surviving spouse without the need for probate. |