TREC Enforcement Division
(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.
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.
There has been a proliferation of the use of “coming soon” or “pocket” listings over the past year. While there may be legitimate reasons for the use of this marketing method, license holders should be aware that selling property using this method, under certain circumstances, may result in a complaint with the Commission and finding that the license holder has violated TREC laws and rules.
Standards & Enforcement Services is frequently asked – “What are your most common violations?” And, “How do I stay out of trouble?” The agency regularly disciplines license holders for violations in all but the last area.
SUPERVISE your sales agents. It is not a defense to broker supervision (Rule 535.2) to say you don’t supervise your sales agents. In other words, saying “I didn’t know about it” is sometimes more of an admission than a defense.