The Texas Broker-Lawyer Committee (BLC) met twice in July to discuss its routine work of reviewing TREC’s forms, but also to discuss potential changes to the TREC contract forms as a result of the proposed NAR settlement related to compensation.
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.
Record-breaking attendance made the TREC Meeting in Dallas-Fort Worth (DFW) a standout and marks the Commission's second out-of-Austin meeting. Leaving the comforts of the Texas Capitol Complex in Austin—where TREC is headquartered—is an initiative that began last year in an effort to connect with more license holders and Texans. Houston was the first stop in 2023 with roughly 80 attendees.
Maybe you’re taking a break from the business, planning to switch brokerages, or intended to temporarily terminate your sponsorship relationship. No matter the reason, awareness of your continuing education (CE) completion date will save you from surprises when you’re ready to go active again.
The newly formed Broker Responsibility Advisory Committee (BRAC) met for the first time on January 17 in Austin.
As of January 2024, license holders have the option to register LLCs and S-Corporations (S-Corps) with TREC for the sole purpose of receiving compensation, as long as those entities meet certain requirements.
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The Texas Real Estate Commission (TREC) met November 6 for its final quarterly meeting of 2023. TREC Chair Scott Kesner recognized a group of license holders who attended to earn Continuing Education (CE) credit. This was the first opportunity to earn CE credit by attending a quarterly TREC meeting under a rule change adopted by the Commission in August. Previously, license holders could only earn credit by attending the February TREC Meeting.
As of now, the only way a license holder can receive compensation through a business entity is by obtaining a business entity real estate broker license. Effective January 2024, license holders will have the option to register LLCs and S-Corporations (S-Corps) with TREC for the sole purpose of receiving compensation, as long as those entities meet certain requirements.
The Texas Real Estate Broker-Lawyer Committee (BLC) met October 13 and continued discussing possible revisions to contract forms and recommended one new form for proposal.
Under Texas law, if a seller’s property is located in a water district, like a municipal utility district (MUD), the seller must provide a notice that includes certain specific information to the buyer prior to execution of the contract.
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