(0111) Principles of Real Estate I - Book format
Texas Principles of Real Estate Part One is a 30 hour course required by the Texas Real Estate Commission (TREC) for anyone who wishes to become a licensed real estate agent in Texas. The course provides a comprehensive overview of real estate principles. TREC mandates that all real estate agents obtain a total of 60 hours of course work in the principles of real estate. For this reason, there is a second, 30 hour, part of this course, Texas Principles of Real Estate Part Two. While both courses work independently of the other, we suggest that for continuity and convenience, you take both parts together.

Texas Principles of Real Estate Part One contains the following modules:

" Texas License Law
" Real Property Ownership and Land Use
" Code of Ethics in Real Estate Practice
" Fair Housing
" Agency
" Contracts, Purchase, and Sale Agreements
" Environmental Hazards

Modules begin with an introduction, learning objectives and key terms. As students work through the course, they can keep the learning objectives in mind and refer to the key terms as necessary. The modules are divided into lessons, which are followed by quizzes to test student comprehension. Modules conclude with activities and case studies that allow students to apply the knowledge they have gained to real-world situations. The introductions, lesson summaries and module summaries are all available in a printable format for reference purposes.

Learning Objectives
" Outline the statutes and agencies governing real estate practice.
" Describe the purpose of license law.
" State the eligibility requirements and exemptions for licenses and the types of licenses.
" Name the steps of the application process.
" Identify the educational and testing requirements for obtaining and renewing a license.
" Sketch the license law's rules regarding the issuing, denial, display, and expiration of licenses.
" Describe the licensee's role in representing clients.
" Recognize the license law's disciplinary procedures and penalties.
" Describe the difference between land, real estate, and real property.
" Recognize the difference between real property and personal property.
" State the definition of a fixture.
" Explain the general character of surface, subsurface, and air rights, as well as littoral and riparian rights.
" Outline the basic features of the metes and bounds survey method and the rectangular survey method.
" Distinguish the vertical method of land description from other survey methods.
" Name the basic public and private methods employed to control the use and development of land.
" Outline the "highest and best use" theory of land use.
" Identify the definition of ethics as used in this course.
" Describe the four business ethics approaches used in this course.
" List major categories of the Articles of the NAR® Code of Ethics.
" Describe the structure of the NAR® Code of Ethics and its supporting materials.
" Identify at least two aspirational concepts in the Preamble to the NAR® Code of Ethics, describe the concept of general business ethics and identify how the Code of Ethics compares and contrasts with the concept of general business ethics.
" Describe the concepts of at least two of the following Articles of the Code of Ethics: Articles 1, 2, 3, 9, 11, 12, 16, and 17.
" Identify possible violations of the NAR® Code of Ethics given interactive learning methods such as case studies, quizzes, role playing, and group discussion of fact scenarios.
" Describe the professional standards enforcement process of a local board or association.
" Differentiate between intentional fraud, negligent misrepresentation, and negligence.
" List the three violations of antitrust laws: price fixing, group boycotts, and market allocations.
" Describe how the existence of and adherence to the NAR® Code of Ethics is good for the real estate profession.
" Explain the purpose of the federal Fair Housing Laws and be able to identify the protected classes covered by the Fair Housing Act.
" Name the seven activities considered illegal as a result of the Fair Housing Laws.
" Identify the five exemptions from the federal Fair Housing Laws for property owners.
" Recognize discrimination in real estate practice.
" Identify acts considered discriminatory under the Fair Housing Act of 1968 as amended in 1972 and 1988.
" Recognize the purpose of the federal Equal Credit Opportunity Act (ECOA) and know the classes it protects.
" Describe the purpose of the Americans with Disabilities Act (ADA).
" Outline how the ADA affects real estate practice.
" Describe how fair housing complaints are handled.
" List the penalties for non-compliance with Fair Housing Laws.
" Sketch various ways a broker might incorporate business practices designed to prevent discriminatory practices.
" Explain the purpose and importance of the HUD/NAR Partnership.
" State the basic principle that should guide licensees in following HUD's Advertising Guidelines.
" Identify acceptable and unacceptable words and phrases for use in advertisements.
" Describe antidiscrimination practices of licensees.
" Describe Texas state laws regarding fair housing.
" Identify the ways agency relationships are formed.
" Describe the role of the agent, the principal, and the third party in the agency relationship.
" Name the different types of authority.
" Outline the differences between the general and the special agent.
" State the rules of agency disclosure.
" Describe the duties that an agent owes the principal.
" Recognize the Texas rules governing compensation of agents.
" Outline the idea of tort liability.
" Identify the circumstances under which a licensee may be held professionally liable.
" Describe how the licensee's duties apply to the four different agency positions.
" Compare and contrast the different forms of listing agreements.
" Interpret buyer representation agreements.
" State the distinctive features of an intermediary relationship.
" Describe how an agency relationship can be terminated.
" Name the laws that prohibit deceptive trade practices.
" Name and explain the various components of a valid contract.
" Identify the differences between a unilateral and bilateral contract.
" Describe the various types of contracts.
" Outline the features of a contract (and the contracting parties) that make a contract legally binding.
" Identify when a contract can be discharged.
" Recognize the difference between a forbearance and performance agreement.
" Recognize the general features of a completed contract. .
" Recognize the different kinds of real estate contracts.
" Distinguish the differences in contracts and purchase and sale agreements in the State of Texas.
" Identify recent laws that have an impact on environmental issues, including lead-based paint disclosure laws.
" State the procedures used to locate toxic waste sites, the responsibilities for cleanup, and steps that may be taken to minimize future liabilities.
" Describe at least two major provisions of the Small Business Liability Relief and Brownfields Revitalization Act.
" Identify at least three sources of human exposure to PCBs and at least two health effects seen in humans exposed to PCBs.
" Sketch the nature of electromagnetic fields (EMFs) and the possible need for testing in areas where these are present.
" Describe the nature of major air pollutants and the remedies that may be applied to minimize their effects.
" Outline landowners' responsibility for the protection of wetlands areas on their property.
" Identify the issues landowners and developers face regarding endangered-species protection.
" Outline the current status of environmental laws and their effect on property insurance and mortgage lending.