Message From TREIC Chair Lee Warren: July 2024
Submitted by Summer Mandell on Wed, 2024-07-24 16:23The Texas Real Estate Inspector Committee (TREIC) met on July 15 at TREC headquarters in Austin.
The Texas Real Estate Inspector Committee (TREIC) met on July 15 at TREC headquarters in Austin.
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.
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.
The Texas Real Estate Commission Meeting is at 10:00 a.m. CT in Dallas.
The Texas Real Estate Inspector Committee (TREIC) met April 15 in Austin. The agenda was light, as much of the work being done is within the subcommittees at this point.
The Texas Broker-Lawyer Committee (BLC) met April 12 and discussed the National Association of Realtors proposed settlement agreement for a lawsuit it is involved with related to commissions that may affect members of NAR, Texas Realtors, and local boards of Realtors—all voluntary membership organizations. While many TREC license holders are members, not all of them are, nor are they required to be.
If you've been wondering if the recent NAR settlement announcement relates to TREC, livestream the next Texas Broker-Lawyer Committee (BLC) meeting on Friday, April 12 at 9 a.m. CT. BLC members will review public comments it has received and discuss how NAR’s situation may affect TREC forms.
TREC is not involved in the litigation. TREC has narrow regulatory authority over license holder compensation—specifically, that a broker is the one who gets paid. However, some contract form language may be impacted.