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What You’ll Need to Register Your Business Entity With TREC

Starting in January 2024, license holders will have the option to register certain LLCs and S-Corps with the Texas Real Estate Commission to accept compensation. The registered entity cannot perform any other brokerage activity and must be 51% owned by the license holder on whose behalf the entity receives compensation. Read more details about the new business entity registration.

TREC Appoints Committee Members, Proposes Voluntary Form for MUD Disclosure

The Texas Real Estate Commission (TREC) met November 6 for its final quarterly meeting of 2023. TREC Chair Scott Kesner recognized a group of license holders who attended to earn Continuing Education (CE) credit. This was the first opportunity to earn CE credit by attending a quarterly TREC meeting under a rule change adopted by the Commission in August. Previously, license holders could only earn credit by attending the February TREC Meeting.

Want to Receive Your Compensation Through an LLC or S-Corp? There’s A New Option Coming January 2024

As of now, the only way a license holder can receive compensation through a business entity is by obtaining a business entity real estate broker license. Effective January 2024, license holders will have the option to register LLCs and S-Corporations (S-Corps) with TREC for the sole purpose of receiving compensation, as long as those entities meet certain requirements.

Message From TREIC Chair Lee Warren: October 2023

The Texas Real Estate Inspector Committee (TREIC) met on October 16 for the final meeting of the calendar year. This meeting marks the last meeting for multiple members on the committee. Steve Rinehart, Shawn Emerick, Keisha Moulton, and Dave Motley have graciously volunteered their time to help make the inspection industry better. Their contributions have been extremely valuable and greatly appreciated.

BLC Recommends Commission Propose New Voluntary Form

The Texas Real Estate Broker-Lawyer Committee (BLC) met October 13 and continued discussing possible revisions to contract forms and recommended one new form for proposal.

Voluntary Notice to Purchaser of Special Taxing or Assessment District Form

Under Texas law, if a seller’s property is located in a water district, like a municipal utility district (MUD), the seller must provide a notice that includes certain specific information to the buyer prior to execution of the contract.

ESAC Talks Principles I and II Course Content

The TREC Education Standards Advisory Committee (ESAC) met October 2 and discussed draft revisions to the Principles I and II course content. ESAC also discussed combining the Principles I and II courses into a single 60-hour Principles course and making this course a pre-requisite for the four additional pre-licensing courses. The committee asked staff to look into the feasibility of their recommendations and will continue discussion at the January 8, 2024 meeting.

Coming October 1: If Your License Expires, It Also Goes Inactive

Starting October 1, active license holders whose licenses expire will be set to inactive status as of the expiration date, and any license relationships to sales agents and/or brokers will be terminated.

If you late renew—up to six months after your expiration date—your license will be renewed on inactive status.

These changes were adopted during the May TREC Meeting.

License Holders’ Contact Information Becomes Private September 1

A bill passed by the 88th Texas Legislature requires all licensing agencies, including the Texas Real Estate Commission, to remove or redact certain details about applicants and current and past license holders in publicly available information, such as the TREC website license holder search or via public information requests.