Texas Real Estate Commission and TALCB Updates

TREC Advisor - October 2019

Texas Real Estate Commission sent this bulletin at 10/10/2019 03:36 PM CDT

TREC recently amended §535.148 (and made conforming changes to §535.220) to strengthen settlement service provider independence and provide clarity about consumer protection issues when a license holder pays funds to or receives funds from another real estate settlement service provider. TREC has long had rules in place limiting an inspector’s ability to engage in what is commonly known as “pay to play.” However, TREC has not had explicit rules addressing this issue for other TREC license holders. The recent rule amendments provide parity for all license types subject to TREC’s jurisdiction.

From the General Counsel, Chelsea Buchholtz

October marks six months since I began with the Commission. I am grateful for the warm welcome and generosity shown to me by our staff team, our policymakers and our license holders. In my short time here, I have observed many remarkably positive aspects of our agency processes: diligence in rolling up sleeves for committee work; passionate comments related to proposed rules; a desire to teach well by understanding the nuances of the law that are sometimes tedious to grasp; inquisitive questions about the completion of promulgated forms; and people, both in the industry and on staff at TREC, who work hard toward success. It is a pleasure to be part of this team.

To implement requirements in the agency’s Sunset bill, the Commission recently adopted rules eliminating TREC licenses for instructors. However, the standards that set the qualifications for instructors did not change. Effective September 1, education providers are now responsible to ensure instructors meet the qualifications to teach a course. We have also published two articles explaining these topics, one about the upcoming changes, and another about the adoption of the rule and the requirements for instructors.

The Texas Real Estate Commission (TREC) is hiring a new Executive Director. Our long-serving Executive Director, Douglas Oldmixon, is retiring at the end of March 2020. The Executive Director serves as the agency leader for both TREC and for the Texas Appraiser Licensing and Certification Board (TALCB), and is responsible for organizational culture and day-to-day operations of the agency. This includes managing staff and agency resources, overseeing the annual budget, and developing and implementing a strategic plan in collaboration with TREC and TALCB policymakers appointed by the Governor.

See The Full Job Posting

Additional News

We Need Your Feedback on Proposed Rules and Contract Forms

At their recently held meeting on August 12, 2019, the Commission adopted and proposed rules based on recommendations received from the Sunset Advisory Commission and TREC’s education, inspector and broker-lawyer committees. License Holders and the public are encouraged to review and comment on any proposed changes to the rules and contracts by emailing general.counsel@trec.texas.gov. These proposed rules and contracts will be up for adoption in November.