The Texas Real Estate Commission requires Salesperson licensees to complete 15 hours of MCE every 2 yrs, 6 hours of which must be in Legal and Ethics Training. Our online packages offer the 15 hours.. Our courses give you the flexibility to take your MCE courses whenever and wherever it's convenient for you. More TREC Information
The purpose of this course is to communicate recent updates, changes, and addendums to laws, regulations, legal definitions, and forms as they apply to real estate practice in the state of Texas. Since judicial interpretation provides the effective enforcement of these changes, a section containing several case studies is included in the course in order to illustrate the law in action in contemporary practice.
TREC Ethics Update MCE 2014-2015
The purpose of this course is to provide guidance and discussion of the ethical requirements and concerns affecting Texas Real Estate Agents. First, the five canons of professional ethics and conduct are identified and discussed. Because agency relationships are critical to real estate transactions, this relationship is explored. Another relationship that is explored involves connections between parties in real estate transactions, including intermediary brokerage relationships and sub agency. 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 must also of how to prevent and deal with them.
This module discusses liens, taxes and foreclosures.
There are many types of liens, as well as several kinds of taxes, that can attach to a parcel of real estate.
When borrowers default on a debt, foreclosure is the process by which lienholders collect the unpaid portion of a debt. Because liens represent an interest in real property, it is crucial that real estate licensees develop an in-depth understanding of liens and lien-related issues.
Such knowledge also helps licensees to better advise buyers and sellers.
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.
Some real estate licensees to believe that their job ends when the purchase and sales contract is signed, because in many states, a licensee has no official duties throughout the closing process, but this is not a prudent stance.
Transactions can and do fall apart during the closing stage. Licensees who are familiar with closing procedures and settlement costs can stay involved and use their skills to help ensure that their transactions end well.
This course will introduce the student to the closing statement (also called a Settlement statement). This is a document that provides a detailed list of each party?s expenses as well as how much he or she has already contributed to the transaction thus far.
This statement also provides an accounting of the final amount that the buyer must bring to the closing. To complete a closing or settlement statement properly, one must know which principal is responsible for each transaction expense.
A licensee must also have a clear understanding of credits and debits and should know how to prorate expenses that must be divided between the principals.
All transactions that fall under RESPA (the Real Estate Settlement Procedures Act) regulation are required to use the HUD-1 Settlement Statement form.
This means that all transactions involving a federally related loan used to purchase a one- to four-family home must use the HUD-1 Settlement Statement form; this in turn means that nearly all residential purchase transactions will require this form.
Therefore, the HUD-1 Settlement Statement is the most commonly used form for settlement statements, and all licensees who deal in residential property should be familiar with it.
Mandatory Continuing Education (MCE) Information
You must complete 15 hours of MCE to renew your license in ACTIVE status (including 3 hours in TREC's Legal Update, 3 hours in TREC's Ethics MCE, and 9 hours in MCE electives).
If you are a broker who sponsors a salesperson, a designated broker of a business entity, or a license holder who is a delegated supervisor of one or more license holders for 6 months or moreduring the current license, your MCE must include 6 hours in the TREC Broker Responsibility course,
3 hours in TREC's Legal Update, 3 hours in TREC's Ethics MCE, and 3 hours in MCE electives.
If you cannot complete the MCE requirement, you may renew your license in INACTIVE status prior to the expiration date of your license to avoid paying a $200 deferral fee and late reporting fees.
However, you will not be able to perform real estate activities that require a license while your status is INACTIVE.
Sales Annual Education (SAE) Information Core credit will not be awarded if the same core course is taken within 2 years of each other.
Salespersons completing their first term of licensure must have a total of 270 hours in TREC records (including 210 core real estate course hours and 60 related or core hours).
SAE must be posted to your records before you can renew online.
Student may take a portion of the course, Bookmark it and resume the class later.
Student may print Certificate of Completion online at time of course completion.
Online final exams
Payment for courses is available by Master CardVISA,, American Express, Discover, PayPal or online check.
"24 hour MCE Rule"
As of Sept 1, 2007, a licensee who takes an online MCE (Mandatory Continuing Education) course will not be allowed to complete an online course in less than Twernty four (24) hours.
If a licensee has paid their renewal fee and begins an online MCE course for renewal purposes on the day their license expires, credit will not be awarded for completing the course on that day (regardless of how many hrs credit the course is for).
If this occurs, the licensee's MCE will be considered late and a $200 Late MCE penalty fee will be assessed. to the licensee.
New laws effective in 2011 and 2012 are good news for both consumers and licensees.
New Broker Rules
As of January 1, an applicant for a broker license will need to have four years of “active experience” to apply for a license.
A point system will be used to quantify active experience in real estate transactions.
Broker applicants will be required to document that they have obtained at least 3,600 points of active experience with evidence of specific transactions &
A verification statement from the applicant’s sponsoring broker at the time the experience was earned
.A complete explanation of the point system can be found on the TREC Commission website.
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TREC Provider #238
For distance learning, The Texas Real Estate Commission considers an online course complete when credit is awarded by the provider.
The provider shall award the student credit for the course no earlier than 24 hours after the student starts and completes the course requirements for credit.
The certificate shall reflect the completion date that conforms with this requirement.
Please take this 24 hour period into consideration when choosing to start your course, especially if you are extremely close to your expiration date.