At the Texas Real Estate Commission’s August meeting, the commission took action on several aspects of SB 747. Why should you care? Because this bill contains many provisions affecting salespeople and brokers, including …
- Shortening the time you’re allowed to “late” renew your license
- Requiring certain brokerages to file a new form
- Changing the experience requirements for a broker’s license
- Requiring a license for performing certain property-management functions
- Revising the language for a broker price opinion
The Texas Association of REALTORS has prepared a summary of the proposed changes, which you may download HERE.
TREC proposes other rules
In addition to above changes, TREC is proposing other rules related to laws passed during the 82nd Texas Legislature, including …
- Creating a point system to determine if an applicant for a broker’s license has enough “active experience” to qualify
- Applying new broker-responsibility requirements to a broker who sponsors a salesperson, a designated broker of a business entity, or a license holder who is a delegated supervisor of one or more license holders for six months or more during the course of the current license.