Your question: What is the purpose of the Tennessee Real Estate Commission rules?

The Tennessee Real Estate Commission handles issues related to real estate agents, such as licenses, regulations, and overseeing professional conduct. The commission helps to protect consumers and clients by having requirements for education, behavior, and professionalism.

What is the purpose of the Tennessee Real Estate Commission?

The mission of the Tennessee Real Estate Commission is to protect the public through establishment and administration of minimum requirements for candidates and licensees, effective professional education of licensees and enforcement of professional conduct.

What is a commission policy statement?

What is a Commission policy statement? An occasional amplification that becomes part of the rules. What is the purpose of the Commission rules? To enable the Commission to carry out its duties under the License Act.

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What can the Tennessee Real Estate Commission require as a disciplinary action?

The Commission was created to enforce the Tennessee Real Estate Broker’s Licensing Law of the state. … After investigation, the Commission can seek criminal prosecution against those it finds are operating or practicing without a license. It can also seek an injunction to prohibit further unlicensed activities.

What is the purpose of the rules of the Texas Real Estate Commission?

TREC’s primary function is to protect the public from unscrupulous or illegal acts of real estate professionals by enforcing the laws of Chapters 1101 and 1102 of the occupations code and adopt new rules as necessary.

How much does a realtor make in Tennessee?

According to Indeed, the average base salary for a Tennessee real estate agent is $78,940. To earn the average salary, a listing agent would need to sell roughly eight properties at the current median price each year. There are several factors that affect how much an individual real estate agent will earn.

Which act established the Tennessee Real Estate Commission?

The Tennessee Real Estate Commission (TREC) was created as a result of the Tennessee Real Estate Broker License Act of 1973. TREC is one of several regulatory agencies under the Division of Regulatory Boards within the Tennessee Department of Commerce and Insurance.

Which of the following actions can the Commission not take?

Which of the following actions can the Commission NOT take? Regulate real estate training schools. … The person must hold a real estate license. The person must be over 25 years of age.

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How do I get my TN real estate license out of retirement?

If you wish to stop practicing real estate for any reason but do not want to give up your real estate license, you may place your license in retirement. In order to retire your license, you will complete the application online at core.tn.gov. Please upload the completed TREC-1 form with the application.

Which entity administers real estate license law in Tennessee?

In Tennessee, real estate law is administered by the Tennessee Real Estate Commission.

What happens if a realtor violates the code of ethics?

If a Realtor violates the code of ethics, a complaint can be filed and disciplinary action is taken by the Realtor’s local Realtor association. In practice, Realtors are required to abide by the Code of Ethics as a way of doing business.

What action may the Tennessee real estate commission take against a person who engages in regulated real estate activities without a license?

What action may the Tennessee Real Estate Commission take against a person who engages in regulated real estate activities without a license? Impose a fine of $1,000 per violation.

What states are reciprocal with Tennessee real estate license?

No, Tennessee does not offer reciprocity with other states in regards to real estate licenses.

How many members of the Tennessee real estate Commission must be licensed?

(a) There is created the Tennessee real estate commission, referred to in this part as the “commission,” which consists of nine (9) members appointed by the governor, each of whom shall be a resident of this state and shall possess good moral character.

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What does trec stand for?

TREC

Acronym Definition
TREC Texas Real Estate Commission
TREC Trans-Mediterranean Renewable Energy Cooperation
TREC Trading Right Entitlement Certificate (Pakistan)
TREC The Real Estate Club (various locations)

Which of the following must be reported to the Commission within 10 days?

True. Licensees must report to the Commission any charge of, arrest or indictment for, plea of guilty or nolo contendere to, or conviction of any misdemeanor or any felony within 10 days of the occurrence. Also, within 10 days of the occurrence, the licensee must notify their supervising broker.