The May 6 Texas Real Estate Commission meeting covered 47 agenda items. See the full agenda and materials here, and read below for highlights relevant to your business.
Competency
One proposal to amend TREC rule §531.3 would make clear that license holders must be knowledgeable about local market issues in the geographic area in which they work and the characteristics involved in the specific type of property being sold or leased. Per TREC: “The proposed amendments clarify the definition of competency to conform with recent changes to §535.2, Broker Responsibility, which requires brokers to ensure their sponsored agents have geographic and property-type competence.”
Instructor Approval
As a result of a recommendation by the Sunset Advisory Commission, the Texas Legislature is considering passage of a bill that would eliminate TREC’s authority to approve instructors. Accordingly, the commission proposed amendments to the rules to reflect this change. TREC will still determine qualifications that an instructor of a TREC-approved course must meet, but the instructor will be approved by the education provider. In terms of those instructor qualifications, TREC has proposed eliminating the 8-hour adult education instructor training course required within four years of an application to teach qualifying or non-elective continuing education courses.
Payments Between Settlement Service Providers
The proposed amendments to §535.148 would provide clarity about federal law prohibiting the paying or receiving of funds to other settlement service providers defined by RESPA. TREC currently has a rule that includes these provisions for inspectors, but not explicitly for other real estate license holders.
All the proposed rule changes will be posted in an upcoming Texas Register, after which the public will have 30 days to comment. Once published in the register, you can send comments to general.counsel@trec.texas.gov.
Consumer Complaints
The commission adopted a new rule that places the process for consumer complaints in one place: §535.142. This action does not change how consumer complaints are handled. It makes it easier to access that information.
Is it just me or have all realtors ,landlords and rent collection agencies nation wide conspired to monopolize to keep raising fees.
Look around. The conspiracy is non-real estate companies trying to enter the RE arena and knock real estate professionals out of the way in favor of their cube farm work models.