TREC Enforcement Division
Summer is coming to an end, and I cannot believe how quickly time has flown. The hot temperatures here in Texas do not seem to compare to the red-hot real estate market. I am forever grateful for the opportunity to work in this state with so many hardworking, knowledgeable license holders who make a difference in the lives of so many Texans every day.
If there is one thing the COVID-19 pandemic has taught us is to expect the unexpected and that planning is essential for you and your business. While succession planning in the event of a broker’s death is largely outside of TREC’s jurisdiction and is primarily a private business decision, it may be helpful to keep a few things in mind.
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.
Intermediary relationships have been part of The Texas Real Estate License Act (TRELA) for well over a decade. Even though these relationships have been well established, there is still confusion about how it works.
An intermediary is a broker who negotiates a real estate transaction between two parties when a broker, or a sales agent sponsored by the broker, has obtained written consent from the parties to represent both the buyer and the seller. A broker acting as an intermediary can make appointments in some circumstances.
AUSTIN, TX – The Texas Real Estate Commission (TREC) is pleased to announce the promotion of Michael Molloy to Director of Standards and Enforcement Services (SES), beginning May 18, 2020.