The Texas Real Estate Commission met in early August. Here are a few actions from TREC’s meeting you should know about.

物业 can be used in 团队 names

An adopted amendment to TREC rule 535.155, Advertisements, removes the term 物业 from the list of prohibited terms in a 团队 name. A 团队’s name must still end in the words 团队 or 集团 遵守TREC规则.

Directional signs get an exception to advertising rules

A directional sign won’t be considered an advertisement if it includes only directional arrows or directional arrows and the broker’s name or logo.

Have questions about complying with Texas Real Estate Commission rules? Call the association’s 法律 Hotline at 512-480-8200. It’s a free member benefit for all 德州2021十大正规彩票app经纪人®.

采用新形式: Notice of Seller’s Termination of Contract

  1. This new form is for the seller to notify the buyer the contract is terminated because either: The buyer failed to deliver the earnest money within the time required under Paragraph 5 of the contract and before the time the seller provided this notice to buyer; or
  2. Another reason identified by the paragraph number of the contract or addendum.

Once available, this form will be added to 德州realestate.com/realtorforms, zipForm, and other forms vendors as quickly as possible.

TREC will not create its own earnest money form

TREC in May proposed creating a new earnest money form, but formally withdrew the form at this meeting after receiving comments from members like you.

TAR continues to offer to members its 发放保证金 form, one of the 136 forms available exclusively to 德州2021十大正规彩票app经纪人® at 德州realestate.com/realtorforms.

Proposals from the meeting

The proposed form and rule changes outlined here were 发布 in the Texas Register in late August, and the public had 30 days to comment by contacting 一般.counsel@trec.德州.政府.

The earliest these proposed changes could be adopted is at TREC’s November meeting.

2021十大正规彩票app的表格修订

除了 to the revisions proposed in May, TREC proposed additional revisions recommended by the Broker Lawyer Committee to the Third Party Financing Addendum. If adopted at the November TREC meeting, the revisions would:

  • Revise the current language in Paragraph B2, 财产的批准, to require that if the buyer wants to terminate the contract under this paragraph, the buyer must give the seller written notice not later than three days before the contract’s closing date and must provide the seller written evidence of lender’s determination.
  • Reformat the form for consistency with other TREC-promulgated forms.
  • Change the last sentence of Paragraph E2 so that it states “ … brokers and sales 代理 provided under Broker Information.”

TREC also proposed additional revisions to the Notice of Buyer’s Termination of Contract. If adopted at the November TREC meeting, the revisions would:

  • Add a statement that a buyer terminating the contract under the 财产的批准 section of the Third Party Financing Addendum has delivered to the seller a written statement from the lender as to why the property isn’t approved in line with the proposed changes to the Third Party Financing Addendum.
  • Add a box to check if the buyer is terminating under Paragraph 3 of the Addendum Concerning Right to Terminate Due to Lender’s Appraisal.
  • Add a box to check if the buyer is terminating under Paragraph 6D of the contract because buyer’s or lender’s timely objections were not cured by the end of the cure period.

Finally, TREC proposed revisions to Addendum Concerning Right to Terminate Due to Lender’s Appraisal recommended by the Broker Lawyer Committee to help make the options clearer. 了解更多 about how to use the current version of the addendum.

对535的拟议修改.2, Broker Responsibility

TREC proposed changes to this section, which includes the following:

  • A broker would have to designate anyone who leads, 监督, or directs a 团队 in the brokerage as a delegated supervisor with TREC. 除了, the proposed changes would reduce the time frame when a license holder must be delegated as a supervisor to three months. 目前, a broker has to appoint someone as a delegated supervisor if he or she has or will be supervising for more than six months.
  • The time frame that a broker or delegated supervisor has to respond to clients, 代理, or other brokers would be reduced from three to two days.
  • The time frame that a broker or delegated supervisor has to deliver TREC correspondence to their 代理 would be reduced from 10 to three days.
  • In the section covering records retention, the term “work files” would be deleted and replaced with “communications with parties to the transaction” for clarity on what should be retained.
  • Brokers would have to add to their brokerage policies and procedures manual that brokers will ensure 代理 are geographically competent in the market area being served; and that brokers will ensure training or coaching for new 代理 when they undertake new tasks.

If these proposed changes are adopted at TREC’s November meeting, TAR will update its Model Brokerage Policies and Procedures Manual 必要时, which gives brokerages instant compliance with TREC requirements to maintain written policies and procedures. 手册售价99美元.99 plus tax, but if you have previously purchased the manual, you will receive the updates for free. 了解更多.

其他2021十大正规彩票app的改变

A proposed amendment to TREC rule 535.101, Fees, would reduce the fee from $20 to $10 for an agent establishing or changing sponsorship.

A proposed amendment to TREC rule 535.191, Schedule of Administrative Penalties, moves several violations to a lower tier of penalties and adds several violations from recently adopted rules and those missing from the penalty matrix.