Name Management Tool Launched!
TREC has launched our new Name Management Tool to allow broker license holders to easily manage their names with the agency online and get in compliance with the new advertising rules.
Articles
Are you a Delegated Supervisor?
The answer to this question is “yes” if a broker has delegated to you in writing the responsibility to assist the broker in complying with The Real Estate License Act and Commission Rules. When this delegation exists to supervise sales agents sponsored by the broker, your name must appear on the Information About Brokerage Services form as the “Licensed Supervisor of Sales Agent/Associate.” A sales agent or broker may act as a delegated supervisor.
Seeking Recommendations from Inspector Committee
After postponing consideration of proposed changes to inspector insurance requirements at their November 2017 meeting, TREC took no action on the proposed rule amendments and remanded the matter to the Real Estate Inspector Committee at the Commission’s February 2018 meeting. TREC asked the Inspector Committee to gather input from stakeholders on all consumer recovery issues and bring recommendations on potential legislative solutions to the Commission for consideration at a future Commission meeting.
New Contract Form Changes Now Available For Voluntary Use
Mandatory Use Begins May 15, 2018 For All License Holders, Make Sure You Are Ready
Improved Communications Options Announced
To Help Improve Response Times and Quality of Communication TREC Is Launching More Ways to Get In Touch With The Agency
We know many of you have had a hard time getting through to the agency. We're working every day to improve our response times and customer satisfaction. We are pleased to announce the launch of several new ways to get in touch with us:
Flexibility Added for Posting a Link to IABS and Consumer Protection Notices
Effective December 6, 2017
Since February 2016, you are required to have a specific link for each of these notices in a readily noticeable location on the homepage of your business website. The Commission has adopted amendments to those rules that give you additional flexibility when posting the link to the Consumer Protection Notice.
What Happens To Administrative Penalties?
(Hint: the money doesn’t fund the Commission)
Administrative penalties are not revenue -- the Commission doesn’t make money from administrative penalties. Instead, the money goes to a trust account to pay consumers for judgments against a license holder.
Don’t Be The One Who Gets Blamed When a Buyer Does Not Get Approval
Want to avoid a complaint? If you are a buyer’s agent and the buyer needs to get a loan, here are a few tips on how to avoid issues that have led to some complaints to the Commission.
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).
Report Crimes Within 30 Days Or Face Penalties
Did you know you are required to notify TREC within 30 days if you have been convicted of a crime even if you are already licensed?
The Texas Real Estate License Act states that if you have entered a plea of guilty or nolo contendere or have been convicted of a felony or any criminal offense that involves fraud (including misdemeanors), you must disclose this to the Commission not later than the 30th day after the final conviction or the entry of a plea of guilty or nolo contendere.