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BLC Discusses Pending NAR Settlement and Whether it Affects TREC Forms

The Texas Broker-Lawyer Committee (BLC) met April 12 and discussed the National Association of Realtors proposed settlement agreement for a lawsuit it is involved with related to commissions that may affect members of NAR, Texas Realtors, and local boards of Realtors—all voluntary membership organizations. While many TREC license holders are members, not all of them are, nor are they required to be.

Broker-Lawyer Committee to Discuss Public Comments on Compensation, TREC Form Considerations

If you've been wondering if the recent NAR settlement announcement relates to TREC, livestream the next Texas Broker-Lawyer Committee (BLC) meeting on Friday, April 12 at 9 a.m. CT. BLC members will review public comments it has received and discuss how NAR’s situation may affect TREC forms.

TREC is not involved in the litigation. TREC has narrow regulatory authority over license holder compensation—specifically, that a broker is the one who gets paid. However, some contract form language may be impacted.

Sara Oates

Sara Oates of Austin is president of Total Appraisal Management & Review, and is a second generation real estate appraiser. She is a member of the Foundation Appraisers Coalition of Texas and a former gubernatorial appointee to the Appraisal Management Companies Advisory Committee. Additionally, she is a volunteer with CASA of Travis County. Oates received a Bachelor of Arts in government from The University of Texas at Austin.