The Texas Real Estate Commission met May 2, 2022. In addition to hearing updates from TREC staff, the Commission contemplated a proposed new flood disclosure form for leases, non-substantive proposed changes from the quadrennial rule review, and adopted a rule change for easement or right-of-way (ERW) agents. The Commission also heard a presentation from Gary Maler, executive director of the Texas Real Estate Research Center at Texas A&M University.

The Broker Responsibility Working Group (BRWG) met April 13 and made two proposed recommendations that will be discussed during the next TREC Workshop on May 3. Feedback from the TREC Workshop discussion will be part of the next BRWG meeting in July.

The process to apply for your Texas broker’s license is easier to understand thanks to a recent rule change.

There may be instances where a client wants to add language to a real estate contract. In a “hot market,” it is not uncommon for a buyer to want an escalation clause added to the contract (for example, language stating the buyer will pay “X amount more than the highest offer if other offers are present”). Typically, an escalation clause such as this will be added to “Paragraph 11, Special Provisions” (which is reserved for factual statements and business details) of the One to Four Family Residential Contract, but it might also be drafted as an addendum to the contract. 

Broker business entity licenses were inactivated in error on Wednesday, June 2, 2021. The issue is resolved, and all licenses are restored.

All business entity licenses have been updated and the TREC website should reflect the accurate status of your license. Business entities and agents can once again manage their sponsorships online as well. If you believe your license status is not correct please contact TREC.

As of April 1, 2021, the following form versions are now required for use: