Final answer:
The Texas Real Estate License Act (TRELA) and Texas Real Estate Commission (TREC) govern the practice of real estate in Texas, including licensing and adherence to ethical guidelines. Zoning is a common government regulation affecting property use, with both advantages and disadvantages, such as protecting residential areas and potentially restricting development.
Step-by-step explanation:
The rules and regulations regarding the practice of real estate in Texas are overseen by The Texas Real Estate License Act (TRELA), which aims to ensure professional standards and protect consumers. These regulations are administered by the Texas Real Estate Commission (TREC), which issues licenses to agents and brokers, enforces TRELA, and ensures that practitioners adhere to ethical and professional guidelines.
One aspect of governmental regulation on property is zoning, which affects how property can be used. Businesses must comply with these regulations, which include limitations on building heights, densities, and the types of activities that can be conducted on a property.
There are both advantages and disadvantages to government regulations on property. While these rules can protect residential areas from incompatible uses, reduce congestion, and preserve property values, they can also restrict development and limit the use of property, potentially impacting economic growth.