{"id":28431,"date":"2025-08-13T11:08:08","date_gmt":"2025-08-13T16:08:08","guid":{"rendered":"https:\/\/pintailcos.com\/web\/new-definitions-form-and-forms-changes-from-trec-meeting\/"},"modified":"2025-08-13T11:08:08","modified_gmt":"2025-08-13T16:08:08","slug":"new-definitions-form-and-forms-changes-from-trec-meeting","status":"publish","type":"post","link":"https:\/\/pintailcos.com\/web\/new-definitions-form-and-forms-changes-from-trec-meeting\/","title":{"rendered":"New Definitions, Form, and Forms Changes from TREC Meeting"},"content":{"rendered":"The Texas Real Estate Commission met August 11 and proposed several changes to rules, forms, and licensing systems. TREC will post the changes in the Texas Register for public comment. The commission will vote to adopt the proposed rule changes and forms at its Nov 3 meeting.\nNew Online License System\nTREC Executive Director Chelsea Buchholtz provided a broad overview of the commission\u2019s new online licensing system, the REALM Portal, and stated that the hope is for the new system to be ready to go live before the end of the year. Once it is live, all TREC real estate applications will be available online.\nNew Definitions\n\nAssociated Broker: This refers to a real estate broker who associates with and is paid through another broker under a relationship that is intended to be a continuous relationship, including as an employee or an ongoing independent contractor. This definition is only for purposes related to displaying broker associations on the TREC website and notifying brokers when their associated brokers have complaints against them.\u00a0\nLegal Holiday: These holidays are described in Sections 662.003(a) and 662.003(b)(6) of the Texas Government Code. They include New Year\u2019s Day, Martin Luther King, Jr. Day, Presidents\u2019 Day, Memorial Day, Independence Day, Labor Day, Veterans Day, Thanksgiving Day, the Friday after Thanksgiving, and Christmas Day.\nConservation Easement: This means an easement (permanent or for a period of years) on a property that restricts the use of all or a part of the property to protect natural resources, wildlife habitat, open space, or historical sites.\n\nProposed New Form\nWater Notice: Seller\u2019s Disclosure about Groundwater and Surface Water Rights\nThis form arises out of a directive from the Sunset Advisory Commission. It\u2019s for mandatory use to provide information regarding disclosure of groundwater and surface water rights associated with the property.\nProposed Forms Changes\nThe commission proposed several forms changes, many of which are a direct result of the passage of SB 1968, which goes into effect Jan 1, 2026.\nInformation About Brokerage Services (IABS Notice)\n\nAdds a paragraph describing the circumstances and timing for when a license holder must enter into a written agreement with a buyer. Adds a paragraph explaining when and how a license holder can show property to a buyer or tenant without representing them. Removes all reference to subagency.\nUpdates the description of the parties in the contact information.\n\nUnimproved Property Contract,\u00a0One to Four Family Residential Contract, New Home Contract (Incomplete), New Home Contract (Completed Construction), Residential Condominium Contract (Resale)\n\nAdds the new definition for Legal Holiday mentioned above.\nAdds a paragraph where the seller must indicate whether the buyer has received the new water notice mentioned above.\nClarifies the language in Paragraph 12A(1)(b) to state, \u201can amount not to exceed $___ or ___% of the Sales Price (check one box only), to be applied toward the brokerage fees owed by Buyer to Buyer\u2019s broker.\u201d\nClarifies the language in Paragraph 12A(1)(c) to state, \u201can amount not to exceed $___ to be applied to Buyer\u2019s Expenses other than brokerage fees.\u201d\nProvides Broker Information and Intermediary Information in a new format, separating Intermediary information from Broker Information.\nChanges listing broker to seller\u2019s broker.\nChanges other broker to buyer\u2019s broker.\nRemoves reference to subagency in the Broker Information.\nRemoves the disclosure of broker to broker compensation at the bottom of the Broker Information page.\n\nSeller\u2019s Temporary Residential Lease and Buyer\u2019s Temporary Residential Lease\n\nRemoves the paragraph for the landlord\u2019s floodplain and flood notice, since the notice will no longer be required with a short term lease of less than 30 days or a temporary residential lease of 90 days or lease. This is a result of the passage of SB 2349, which goes into effect on Sept 1, 2025.\n\nFarm and Ranch Contract\n\nAdds the new definition for Legal Holiday.\nAdds a paragraph where the seller must indicate whether the buyer has received the new water notice mentioned above.\nClarifies the language in Paragraph 12A(1)(b) to state, \u201can amount not to exceed $___ or ___% of the Sales Price (check one box only), to be applied toward the brokerage fees owed by Buyer to Buyer\u2019s broker.\u201d\nClarifies the language in Paragraph 12A(1)(c) to state, \u201can amount not to exceed $___ to be applied to Buyer\u2019s Expenses other than brokerage fees.\u201d\nProvides Broker Information and Intermediary Information in a new format, separating Intermediary information from Broker Information.\nChanges listing broker to seller\u2019s broker.\nChanges other broker to buyer\u2019s broker.\nRemoves reference to subagency in the Broker Information.\n\nLandlord\u2019s Floodplain and Flood Notice\n\nAdds the language, \u201cNot Required with a TREC Temporary Residential Lease.\u201d\nThis is a result of the recent passage of SB 2349.\n\nLead-Based Paint Addendum\n\nChanges listing broker to seller\u2019s broker.\nChanges other broker to buyer\u2019s broker.\n\nSeller\u2019s Disclosure Notice\nThere are additional disclosures that the seller must make including the existence of:\n\nA conservation easement\nWhether the property is currently covered by insurance\nWhether the property is presently covered by windstorm insurance\nIf the seller has been unable to insure the property for any reason\nThe existence of a private road that the seller is financially responsible for maintaining\nAny aboveground or underground storage tanks on the property\nAny aboveground storage tanks on the property that hold 500 gallons or more of stored petroleum or other chemicals.\n\nThese new disclosure requirements arise out of a directive from the Sunset Advisory Committee.\nChanges Affecting Brokers\n\nAll brokers and broker applicants must attend the six-hour Broker Responsibility Course. Delegated supervisors are still required to take the Broker Responsibility Course.\nApplicants for a broker\u2019s license who have obtained a bachelor\u2019s degree or higher may obtain up to 300 hours of real estate related education credit (formerly a degree could count up to the required 630 classroom hours). Rental property management in residential transaction may be credited 2.5 points per property per year and rental property management in farm and ranch and unimproved land transactions may be credited 5 points per property per year. Delegated supervisors may receive 3 points per transaction.\nApplicants for a broker\u2019s license must also now obtain 720 points of qualifying practical experience (which is double the former requirement). Additional experience points above 720 may now be credited towards education, up to a maximum of 300 classroom hours.\nAn associated broker must provide to the commission the name of the broker with whom they are associated and report any changes within 10 days.\nThese changes arise out of the recently enacted SB 1968.\n\nChanges Affecting All License Holders\n\nLicense holders must provide their business address and business phone number to the commission. This arises out of SB 1968.\nApplicants for a real estate license who are military service members, spouses, and veterans may receive a Texas license if they have a current license in good standing issued in another state. The license must also be processed and issued within 10 business days. This is in response to the recently enacted HB 5629.\n","protected":false},"excerpt":{"rendered":"<p>The Texas Real Estate Commission met August 11 and proposed several changes to rules, forms, and licensing systems. TREC will post the changes in the Texas Register for public comment. The commission will vote to adopt the proposed rule changes and forms at its Nov 3 meeting. New Online License System TREC Executive Director Chelsea [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[108],"tags":[],"class_list":["post-28431","post","type-post","status-publish","format-standard","hentry","category-news"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/pintailcos.com\/web\/wp-json\/wp\/v2\/posts\/28431","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pintailcos.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pintailcos.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pintailcos.com\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pintailcos.com\/web\/wp-json\/wp\/v2\/comments?post=28431"}],"version-history":[{"count":0,"href":"https:\/\/pintailcos.com\/web\/wp-json\/wp\/v2\/posts\/28431\/revisions"}],"wp:attachment":[{"href":"https:\/\/pintailcos.com\/web\/wp-json\/wp\/v2\/media?parent=28431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pintailcos.com\/web\/wp-json\/wp\/v2\/categories?post=28431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pintailcos.com\/web\/wp-json\/wp\/v2\/tags?post=28431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}