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REI

TREC Adopts Revised Forms, Proposes Rule Changes to Clarify the Unauthorized Practice of Law

The Texas Real Estate Commission met November 7 and received updates from advisory committees and staff, adopted revised forms, and proposed revisions to rules related to the inspection form and the unauthorized practice of law. Here are a few key takeaways from the meeting.

Appointments Made to ESAC, TREIC

The Commission appointed the following individuals to serve on the Education Standards Advisory Committee (ESAC):

Do You Really Have to Provide a Flood Disclosure for Temporary Residential Leases?

Yes. A bill passed during the 87th Texas Legislative Session does not generally exempt landlords of temporary residential leases from providing a disclosure notice about whether the landlord is aware that the dwelling is located in a 100‐year floodplain or that the dwelling has flooded within the last five years.

Comment on Proposed TREC Form Revisions by September 26

The Texas Real Estate Commission at its August meeting proposed form revisions recommended by the Texas Real Estate Broker-Lawyer Committee. The Texas Real Estate Broker-Lawyer Committee an advisory body consisting of six attorneys appointed by the president of the State Bar of Texas, six brokers appointed by TREC, and one public member appointed by the governor. 

Broker Responsibility Group Proposes New Rule on Response Times, Adding Oversight to Sales Agent’s First-Time Brokerage Activity

The Broker Responsibility Working Group (BRWG) met July 13 and acted on two proposals related to broker oversight and sales agents’ response times.

Proposed Rule

BRWG proposed a new rule, 535.157, that requires a broker or sales agent to respond to their principal, a broker or sales agent representing another party to a real estate transaction, or an unrepresented party to a real estate transaction within two calendar days.