The TREC Broker-Lawyer Committee (BLC) met April 8. The committee received updates from various working groups and made recommendations for the Commission on form revisions and a new form.

Attorney Co-Chair and Alternate Co-Chair Named

The meeting started with attorney members electing John George to serve as attorney co-chair and Aimee Slusher as alternate co-chair.

The process to apply for your Texas broker’s license is easier to understand thanks to a recent rule change.

TREC’s Broker-Lawyer Committee met January 14 to discuss public comments and potential changes to the Farm and Ranch Contract and other contract forms. Here are some takeaways from the meeting.

There may be instances where a client wants to add language to a real estate contract. In a “hot market,” it is not uncommon for a buyer to want an escalation clause added to the contract (for example, language stating the buyer will pay “X amount more than the highest offer if other offers are present”). Typically, an escalation clause such as this will be added to “Paragraph 11, Special Provisions” (which is reserved for factual statements and business details) of the One to Four Family Residential Contract, but it might also be drafted as an addendum to the contract. 

Broker business entity licenses were inactivated in error on Wednesday, June 2, 2021. The issue is resolved, and all licenses are restored.

All business entity licenses have been updated and the TREC website should reflect the accurate status of your license. Business entities and agents can once again manage their sponsorships online as well. If you believe your license status is not correct please contact TREC.

As of April 1, 2021, the following form versions are now required for use: