Final answer:
The TREC rule for brokers to maintain written policies and procedures is Section 535.2. It aims to ensure compliance with legal requirements and establish accountability in Texas real estate brokerage, including supervisory practices, money handling, and record-keeping.
Step-by-step explanation:
The TREC rule that requires a broker to maintain written policies and procedures is Section 535.2 of the Texas Real Estate Commission (TREC) rules. These policies should ensure compliance with state and federal laws concerning the practice of real estate brokerage in Texas. They must address supervision of licensed and unlicensed personnel, handling of money received from clients and customers, and the maintaining of required records. Section 535.2 is designed to ensure the proper conduct and accountability of real estate brokers, thereby protecting the interests of the public.
In compliance with the rule, brokers must have clear procedures in place for overseeing the actions of their agents to prevent violations of regulations. This includes making sure that advertising is truthful and not misleading, that negotiations are conducted ethically, and that all parties' interests are properly represented and protected. Brokers must also have systems in place to handle and account for earnest money and other client funds responsibly.