The procedures for filing a complaint, as well as data on past
disciplinary actions taken by TREC, can be found in the "Complaints" side menu to the left.
The Texas Real Estate Commission (TREC) is the state agency responsible for licensing real estate professionals in Texas.
TREC is here to assist and protect consumers of real estate services by requiring that all real estate brokers and sales agents meet and maintain specified
levels of education to hold a license to act as a real estate agent. Agents are required to follow the provisions of the
Real Estate License Act and the
Rules of the Texas Real Estate Commission in
all transactions and deal with the public in a competent and honest manner. The Commission also licenses real estate inspectors, residential service companies,
real estate schools and registers timeshare properties.
To learn more about the complaint process:
Texas Association of REALTORSí Complaint Article
TREC Flow Chart
Do you need to choose a real estate sales agent or broker?
TREC has a very helpful Guide for Buyers and Sellers of Real Estate in Texas, and there is a Homebuyer's Guide provided by The Real Estate Center at Texas A&M.
Buyers and sellers of property should make certain that real estate professionals with whom they deal are legally qualified to offer brokerage services and are licensed by the Texas Real Estate Commission. Information on all license holders can be found by doing a License Holder Info Search, which is accessible at the top of any page of the TREC web site.
Should you hire a home inspector?
See this one page guide from HUD, called, For Your Protection: Get a Home Inspection
Excerpt: "A home inspection gives the buyer more detailed information about the overall condition of the home prior to purchase. In a home inspection, a qualified inspector takes an in-depth, unbiased look at your potential new home to...."
Concerned about Mold in the Home?
For information about homeowners insurance or related mold issues, please visit the Texas Department of Insurance site and click on "Consumer Help."
For the EPA's publication, "A Brief Guide to Mold, Moisture, and Your Home", see http://www.epa.gov/iaq/molds/images/moldguide.pdf (this is a PDF file, so you will need Adobe Acrobat Reader on your computer).
Who Pays Judgments Made Against License Holders?
TREC maintains two recovery funds, which are used to pay judgments taken by consumers against its license holders or registrants. The Real Estate Recovery Trust Account (formerly Recovery Fund) is available to consumers harmed by brokers, sales agents, or registered Easement Or Right-of-Way agents. The Real Estate Inspection Recovery Fund provides a similar remedy for consumers holding an unsatisfied judgment against a real estate inspector.
Need Information about Home Warranties?
To learn about the providers of these warranties, and their regulation, please visit TREC's Residential Service Company Program page.
CFPB Launches Mortgage "Toolkit" for Consumers
The Consumer Financial Protection Bureau (CFPB) has released a new guide booklet to help home buyers become better mortgage shoppers
and understand the new mortgage disclosure forms that will become mandatory on August 1, 2015. While mortgage creditors will be required to provide the booklet to
borrowers as a part of the application process, the CFPB is encouraging other transactions participants, including real estate professionals, to help disseminate
the information to potential home buyers.
The CFPB's new
"Your Home Loan Toolkit: A Step by Step Guide"
replaces the similarly intended Department of Housing and Urban Development
(HUD) settlement costs booklet that residential mortgage borrowers have received for decades. The CFPB's "toolkit" booklet provides a much-updated, step-by-step
guide to help consumers understand the nature and costs of real estate settlement services, define what affordable means to them, and find the best mortgage. The
booklet also provides a how-to guide for mortgage shopping among potential lenders, with tips for avoiding pitfalls and handling problems that arise during the
mortgage application process. Additionally, the toolkit focuses on the mortgage closing/settlement process, including an explanation of the meaning of the CFPB's
new Closing Disclosure form. The booklet concludes with a section on "Owning Your Home" with information about what borrowers can do if they get behind on payments,
determining the need for flood insurance and understanding home equity and refinancing loans. The toolkit includes worksheets and checklists (which are interactive
in the online version), conversation starters for discussions with lenders, and research tips to help consumers seek out and find important information.
The new home loan toolkit is the latest product of the CFPB's "Know Before You Owe" mortgage initiative, major components of which
are the new
integrated mortgage disclosure forms
that will be required for most residential mortgage transactions effective August 1, 2015. The CFPB's new "Loan
Estimate" form redesigns and integrates the current "early" Truth in Lending Act (TILA) disclosure and the Real Estate Settlement Procedures Act (RESPA) "Good Faith
Estimate" form. The new "Closing Disclosure" replaces the final, corrected TILA disclosure and the RESPA HUD-1 Settlement Statement.
In addition to the online version linked above, the print booklet is available for bulk purchase from the
U.S. Government Printing Office.
See our Frequently Asked Questions page to address many other consumer-related issues.