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The residential real estate industry in Texas is unique in that the real estate sales contract forms used in most transactions in the state are developed through a state agency, the Texas Real Estate Commission (TREC). TREC's Broker-Lawyer Committee develops standard contract forms and addenda which are promulgated by the Commission.
The Texas Real Estate Commission(TREC) is the state agency that governs real estate practices in the state of Texas. The agency is headquartered at 1700 North Congress in Austin. [ 1 ] TREC is composed of nine members appointed by the Governor with the concurrence of the Texas Senate. The members are appointed for six-year terms, with the terms ...
Multiple listing service. A multiple listing service ( MLS, also multiple listing system or multiple listings service) is an organization with a suite of services that real estate brokers use to establish contractual offers of cooperation and compensation (among brokers) and accumulate and disseminate information to enable appraisals.
A 5 percent real estate commission on that price would come to $12,500. But in San Francisco, where the median was a considerably higher $1.37 million, a 5 percent commission would come to $68,500.
Real estate agent. Real estate agents and real estate brokers are people who represents sellers or buyers of real estate or real property. While a broker may work independently, an agent usually works under a licensed broker to represent clients. [1] Brokers and agents are licensed by the state to negotiate sales agreements and manage the ...
When it came time to list their five-bedroom, three-bath . home with a real estate agent -- and agree on the commission they'd pay -- Nancy and Rick Razzano of Wayne, Ill. got a surprise. "The ...