- National Examination Portion
- The section of the Texas Sales Agent exam covering general real estate principles that apply nationwide, such as contracts, property ownership, and financing.
- State Examination Portion
- The section of the exam covering Texas-specific law, rules, and practices, including TREC regulations and state agency requirements.
- TREC (Texas Real Estate Commission)
- The state agency that regulates real estate licensing, sets rules of conduct, and enforces the license law for real estate professionals in Texas.
- Sales Agent License
- The credential that allows a person to perform real estate brokerage activities in Texas, but only while sponsored by and acting on behalf of a licensed broker.
- Sponsoring Broker
- A licensed broker who supervises a sales agent and holds legal responsibility for the agent's real estate activities.
- Fiduciary Duty
- The legal obligation a licensee owes a client to act with loyalty, care, disclosure, obedience, accounting, and confidentiality in the client's best interest.
- Agency
- The relationship created when a client authorizes a licensee to act on their behalf in a real estate transaction, giving rise to the duties owed to that client.
- Escrow Account
- A separate trust account used to hold funds such as earnest money on behalf of parties to a transaction, kept apart from the broker's operating funds.
- Earnest Money
- A good-faith deposit a buyer provides when making an offer, showing serious intent and typically applied toward the purchase price at closing.
- Deed
- The legal document that transfers ownership of real property from a grantor to a grantee.
- Encumbrance
- Any claim, lien, or restriction on a property—such as a mortgage or easement—that may affect its use or transfer of title.
- Examination Fee
- The cost a candidate pays to sit for the Texas real estate sales agent licensing examination.