The Broker Responsibility Working Group met January 12, 2022, to discuss property management practices, public comments, and broker oversight in new agent transactions. Here is a recap of the group’s discussion.
The working group considered areas of concern related to property management and consumer protection. The group explored recommendations to revisit and update the property management course and discussed whether there is as a way consumers can easily identify whether a license holder can engage in property management. They decided to ask the Education Standards Advisory Committee (ESAC) to review the Commission’s current outline for the property management course.
The group discussed how brokers oversee new agents’ transactions. Commission rule 535.2(i)(5), Broker Responsibility, says, “ … At a minimum, when a sales agent performs a real estate brokerage activity for the first time, the broker must require that the sales agent receive coaching and assistance from an experienced license holder competent for that activity.” The group considered whether there should be a different timeframe in the rule associated with oversight new agents should receive. The group is still considering options.
- The group discussed comments on proposed changes to Section 535.56, Education and Experience Requirements for a Broker License, and no changes were recommended to the proposed rule as a result of these comments.
- The group discussed comments on TREC Rule Section 537.11, Use of Standard Forms, and the unauthorized practice of law, and recommended this issue be further considered by the Commission during its quadrennial rule review.
Upcoming Meeting Information
The next meeting of the Broker Responsibility Working Group is Wednesday, April 13, 2022.
In accordance with normal Commission practice, any meeting materials will be available on the TREC website before the meeting. To participate by providing public comment during the meeting, contact firstname.lastname@example.org by 5 p.m. CT on Tuesday, April 12, 2022, along with the agenda item number you wish to speak on. If you are unable to attend the meeting live, you can email your public comments instead.