TREC changes you need to know about

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08/06/2015 | Author: Editorial Staff

Changes to your education requirements, updated terminology, and savings for brokers are just a few outcomes of the 84th Texas Legislature. The latest Texas REALTOR® Magazine Minute explains these changes and more. Plus, get the details on TREC form updates in the August issue of Texas REALTOR® Magazine.

Categories: Continuing education, Forms
Tags: trec, legislation, texas realtor magazine, magazine minute


Comments

Ward Lowe on 08/07/2015

@Bob: This info comes from a TAR attorney:

Because “advises or offers advice to an owner of real estate concerning the negotiation or completion of a short sale” is being added to the definition of broker in the Real Estate Licensing Act, conducting this activity on behalf of another person in exchange for compensation would be considered brokerage activity in Texas. If they have an out of state real estate license, then see the TREC FAQ below. If they are not licensed, then they would be treated as any unlicensed person engaging in brokerage activity in Texas.

Q:  How can an out-of-state broker sell land in Texas?
A:  The foreign broker must either associate with a Texas broker who handles all the negotiations and other acts that require a license in Texas, including showing the broker’s listings or soliciting listing of real property, or obtain a Texas real estate license. No license is necessary to sell land in Texas as long as the broker does not perform any acts in Texas that require a license.

Bob Leonard on 08/06/2015

Beginning January 1st, TREC will regulate “Short Sale Advisors”.  I recently represented a residential seller who was trying to short sell.  The buyer, through her agent,  hired a short sale negotiator in California with whom we cooperated.  How does this regulation affect advisors who are out of state?


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