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REO

From the Chair - December 2017

The Commission met on November 13th for its regular quarterly meeting and it was one of the most productive – and lengthy – that we have had for many years.  Despite its length, we recognized recent accomplishments and achieved some major milestones that we have been working on for over two years.  We began by ratifying a very generous set of accommodations implemented in response to the unprecedented impact of Hurricane Harvey.  Up to six full months of deadline extensions are available to those who really need them in the 60 counties declared as a Disaster Area by Governor Abbo

SCAM ALERT!

TREC has been made aware of a scam requesting money from our license holders. The request is sent by text by someone posing as the Texas Real Estate Commission and asks that a specified amount be paid through Square Cash and provides a link to pay the amount (see example texts below).

"Coming Soon" to a Complaint Near You!

There has been a proliferation of the use of “coming soon” or “pocket” listings over the past year. While there may be legitimate reasons for the use of this marketing method, license holders should be aware that selling property using this method, under certain circumstances, may result in a complaint with the Commission and finding that the license holder has violated TREC laws and rules.

Use of Unlicensed Assistants in Real Estate Transactions

Brokers and sales agents often use unlicensed personnel for assistance in conducting their real estate brokerage activities. Such unlicensed persons, sometimes referred to as administrative assistants, can be of great help to a busy agent. However, care must be taken to ensure that the unlicensed person does not conduct any of the activities for which a real estate license is required. This article defines some of those activities which may and may not be legally conducted by unlicensed persons.