Which of the following is NOT a function of TREC?

The correct answer is that monitoring real estate market prices is not a function of TREC, or the Tennessee Real Estate Commission. TREC’s primary responsibilities include regulating real estate practice, issuing licenses to real estate professionals, and enforcing laws related to timesharing.

By focusing on regulating real estate practice, TREC ensures that practitioners adhere to the laws and regulations governing the industry, maintaining standards of professionalism and consumer protection. Additionally, TREC issues licenses, ensuring that individuals meet the necessary qualifications and provide oversight to maintain the integrity of the profession.

Enforcement of laws related to timesharing is also within TREC’s jurisdiction, as it requires oversight to protect consumers who may be entering into timeshare agreements. This includes action against any misconduct within the timeshare arena.

However, monitoring real estate market prices falls outside of TREC's regulatory functions. Price monitoring is typically conducted by independent market analysts, economists, or financial institutions rather than a regulatory body focused on practitioner compliance and consumer protection. This delineation illustrates TREC’s role as a regulatory authority rather than a market analysis entity.