Fannie Mae, Freddie Mac, and the Department of Housing and Urban Development (HUD) have created new guidelines for Reconsideration of Value (ROV) policies with clearer expectations for lenders, appraisers, and borrowers.
ROVs are used when borrowers wish to appeal an appraisal when they believe the opinion of value is unsupported, deficient because of unacceptable appraisal practices, or reflects discriminatory practices.
The Sunset Advisory Commission is conducting a special-purpose review of the Texas Real Estate Commission (TREC). By law, the scope of the review is strictly limited to reviewing the legally required disclosures made by a seller of real property and the associated disclosure forms developed by TREC. Sunset staff welcomes public comments related to this topic.
Continuing Education (CE) providers play a key role in ensuring real estate professionals receive ongoing training. TREC Rule 535.75 outlines important responsibilities that CE providers must adhere to.
Want your real estate continuing education (CE) submission process to go more smoothly? Use this checklist each time you submit an application.
Remember, CE course fees must be calculated based on the following information. All courses must include the base fee and content review fee. In addition to the base and content review fees, fees for each delivery method in which the course will be offered are required.
During the May 2024 TREC Meeting, the Commission proposed a new rule to address broker succession when the designated broker for a business entity passes away.
Record-breaking attendance made the TREC Meeting in Dallas-Fort Worth (DFW) a standout and marks the Commission's second out-of-Austin meeting. Leaving the comforts of the Texas Capitol Complex in Austin—where TREC is headquartered—is an initiative that began last year in an effort to connect with more license holders and Texans. Houston was the first stop in 2023 with roughly 80 attendees.
They are still happening: Real estate leasing scams continue to pose a threat to property owners in Texas, especially in the greater Houston area, prompting the Texas Real Estate Commission (TREC) to issue warnings such as this press release sent to more than a dozen news outlets—most of them based in the southeastern part of the state—including
The Texas Real Estate Commission Meeting is at 10:00 a.m. CT in Dallas.
The Texas Real Estate Commission’s Enforcement Division has 37 people—10 attorneys, legal assistants, and investigators. They enforce the laws and rules that regulate real estate brokers, sales agents, real estate inspectors, and timeshare plans, through the investigation of consumer complaints. They also review the fitness of an applicant for licensure.
The only way enforcement can initiate an investigation is through a filed complaint, which can be done by anyone.
Lowering broker education requirements, raising experience requirements? What about broker associates? These are some of the questions raised during the Texas Broker Responsibility Advisory Committee’s (BRAC) April 23 meeting.
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I hope this message finds you recovering from Halloween and the election. In these uncertain times, I urge us all to focus on what matters to us most. November brings Thanksgiving, and with that a unique opportunity to give thanks. This year is one for the record books, but I am grateful to live in the great state of Texas.
The Inspector Advisory Committee met on October 12 via teleconference. There were some public comments submitted in response to the newly proposed Consumer Protection Notice, and most of the feedback was positive. The new notice includes verbiage to inform consumers that inspectors are required to carry E&O insurance, and that inspectors have the ability to limit their liability through the use of an agreement between themselves and their client.
October is here. It is finally cooling off outside and the hints of fall in the air give me a spirit of optimism for our future. I hope that is true for you too.
After almost two years of effort on the part of the Inspector Committee to restructure and streamline the education and substitute experience requirements for inspector licensure, the Commission adopted rules at its August meeting to implement the proposals recommended by the Committee. This long-overdue revamp of these requirements remove redundancies in the current rules and simplify the process to become an inspector in Texas.
We have made it another month in the virtual environment, and I don’t know about you, but I am ready to see folks in person again. The agency continues to work primarily remotely with a high level of productivity, maintaining a call hold time of under 2 minutes, and processing 5 months of renewals after the COVID extensions expired.
Hello to each of you. I hope you and your families are safe and well.
The Texas Real Estate Inspector Committee met via teleconference on July 20th. The agenda was reasonably short this time around. The education rules which change the pre-licensure process were proposed at the previous Commission meeting, and they have gone through the public comment period. After considering the comments received, the Inspector Committee voted to forward the rules as proposed, along with some non-substantive changes made as a result of questions raised by the Go
The agency has been busy over the last several months adjusting to the new norm resulting from the COVID-19 virus. We are operating almost 100% remotely, with only essential staff coming into the office to process mail, or deal with the various technical issue that arise from a remote workforce.
Last weekend we celebrated our country's 244th birthday.
Greetings to you upon the beginning of summer. I hope each of you continues to live well in this COVID-19 season. This is a season in which the burdens of each of us are personal and unique. Our agency will do what we can to ease whatever burdens possible.
The Texas Real Estate Commission (TREC) is pleased to announce the appointment of two broker members to the TREC Broker-Lawyer Committee. Broker members Dianne McCoy and Mary Miner were appointed at the August 2021 Commission meeting with terms set to expire in 2027.
As a result of the healthy Texas real estate market, the agency has seen an increase in new applications and longer hold times. TREC is committed to providing superior customer service to anyone who reaches out to the agency. Part of that commitment is a dedication to ensure short hold times and quick responses to emails.
In case you missed it, we have published the May "Coffee with the Commission" session. TREC Chair, Scott Kesner and TREC Executive Director, Chelsea Buchholtz discussed the latest from the May TREC Commission meeting and answered your questions about recently adopted rules, the legislative session, upcoming events, and more.
Broker business entity licenses were inactivated in error on Wednesday, June 2, 2021. The issue is resolved, and all licenses are restored.
During the May Commission meeting, rules relating to the Inspector Standards of Practice (SOP) were proposed. These proposed revisions are the product of many meetings of the Inspector SOP subcommittee and the work of the entire Texas Real Estate Inspector Committee. The Commission also adopted a rule which helps streamline the process for petitioning the Commission for the adoption of rules. See the full agenda and mate
AUSTIN, TX – The Texas Real Estate Commission (TREC) is pleased to announce the confirmation of broker members Leslie Lerner and Mark Woodroof and public member Ben Peña as new commissioners for terms to expire on January 31, 2027. The Commissioners were nominated in March and were confirmed by Senate vote on April 28, 2021.
As of April 1, 2021, the following form versions are now required for use:
Pursuant to section 551.0411 of the Texas Government Code, the Texas Real Estate Commission (TREC) is postponing its February 16, 2021, quarterly open meeting to February 19, 2021, at 9:00 am. The State of Texas is experiencing unprecedented snowfall, extreme temperatures, rolling blackouts, and power outages that are catastrophic and prohibitive of conducting the meeting at its posted scheduled date and time. TREC will take up items posted with the Secretary of Stat
The Texas Real Estate Commission (TREC) has received many comments and requests related to license holders’ involvement in the events that occurred at the US Capitol on January 6, 2021. The Commission is limited in the action it may take against real estate license holders by the Real Estate License Act, the
AUSTIN, TX – The Texas Real Estate Commission (TREC) will launch the second phase of the education provider audit program in January 2021. TREC rules give staff authority to audit education providers and permits staff to conduct on-site audits without prior notice. Staff may also enroll in and attend a course without identifying themselves as TREC employees.
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To expedite the renewal of qualifying courses where content, design, and delivery have not changed, qualifying education (QE) providers may submit the appropriate Qualifying Course Application (Real Estate or Inspector) and the Qualifying Course Renewal Certif
The new 8 Hour Inspector Legal & Ethics and Standards of Practice Review course is effective on September 1, 2021. This course replaces the 4-hour Inspector Legal and Ethics and the 4 hour Standards of Practice Review courses.
The current inspector non-elective CE courses, 4-hour Inspector Legal & Ethics and 4-hour Standards of Practice Review course expire on August 31, 2021. Please be sure all students enrolled in these courses are notified to complete these two courses before August 31, 2021.
The Education Standards Advisory Committee (ESAC) met on April 5, 2021. This meeting was held virtually and included a presentation from the Broker Responsibility Working Group (BRWG) Chair, Leslie Lerner. ESAC and BRWG have agreed to collaborate to develop recommendations aimed at better informing sales agents and brokers of duties and responsibilities to one another, which may include both education and experience co
New real estate inspector and
New inspector pre-licensing education and experience requirements begin March 1, 2021. The new experience requirement includes a 40 hour Texas Practicum, which must consist of a minimum of five complete and in-person inspections. In light of the current COVID-19 pandemic, TREC will grant a temporary allowance for on-site inspections to take place virtually, as long as the Practicum instructor conducts inspections live and on-site, and the instructor and students are able to interact with ea
On February 1, 2021, sales agents and brokers will be required to complete at least three hours in contract-related coursework as part of the 18 hours of continuing education (CE) required to renew a license. For your convenience, and the convenience of your students, a “contracts” search filter is available on the Approved Real Estate CE Course List, which allows license h
The TREC Education & Examinations Division will launch the next phase of the education provider audit program in January of 2021. TREC rule §535.67(a) gives staff the authority to conduct on-site audits without prior notice as well as enroll in and attend courses without identifying themselves as
When preparing course applications, be sure they are filled out completely, all necessary documents are included and the fee is accurately calculated. Course applications and fees received separately will be sent back to the provider.
All providers are required to provide each student with a course evaluation form approved by the Commission or Board.
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If you feel there has been a violation of The Real Estate License Act , or TREC rules
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