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.

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.

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.

Legislation passed by the 88th Texas Legislature requires the Texas Real Estate Commission to update two frequently used forms: the Consumer Protection Notice and the Seller’s Disclosure Notice.

Consumer Protection Notice

What changed? It no longer references the real estate inspection recovery fund, which was repealed this session.

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.

A new rule effective earlier this summer sets a timeline of two calendar days to respond to parties to a real estate transaction you’re involved in. Here’s what you need to know.

What Is the Rule?

535.157, Obligation to Respond Timely

When Did it Go into Effect?

June 11, 2023

What is Required?

Brokers or sales agents must respond within two calendar days to: