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The Texas Real Estate Commission (星空体育app下载) is conducting a study on wholesaling and seeking input from consumers, wholesalers, and license holders. Wholesaling is a model where a person enters into a contract to buy real estate and then sells their contractual interest in the property to a third party prior to closing. to help the agency as it examines wholesaling practices and consumer protection measures.听The survey should take about five minutes to complete.

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We have published the video of the November 2021 "Coffee with the Commission" session. Chair Scott Kesner and Executive Director, Chelsea Buchholtz discussed all the latest from the November Commission meeting and what is听coming for 2022.

During the November quarterly Commission meeting, several rule changes were proposed and adopted. See the full agenda and materials on the Commission Meetings and Minutes page. The next Commission meeting is scheduled for February 14, 2022 at 10:00 a.m.

Proposed Rules

There may be instances where a client wants to add language to a real estate contract. In a 鈥渉ot market,鈥� it is not uncommon for a buyer to want an escalation clause added to the contract (for example, language stating the buyer will pay 鈥淴 amount more than the highest offer if other offers are present鈥�). Typically, an escalation clause such as this will be added to 鈥淧aragraph 11, Special Provisions鈥� (which is reserved for factual statements and business details) of the One to Four Family Residential Contract, but it might also be drafted as an addendum to the contract.听

The Texas Real Estate Commission recently adopted changes to the real estate inspector Standards of Practice (SOPs) at its August 9, 2021 meeting based on recommendations from the Texas Real Estate Inspector Committee. These changes are not effective until February 1, 2022. This six-month period will provide inspectors the time necessary to familiarize themselves with the updated SOPs prior to their mandatory use on February 1, 2022.听

We have published the August听"Coffee with the Commission" session.听星空体育app下载 Chair, Scott Kesner and 星空体育app下载 Executive Director, Chelsea Buchholtz discussed the latest from the August 星空体育app下载 Commission meeting. They discussed the new PID addendum, escalation clauses, and more. Check out the video below.

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As a result of the healthy Texas real estate market, the agency has seen an increase in new applications and longer hold times.听 星空体育app下载 is committed to providing superior customer service to anyone who reaches out to the agency. Part of that commitment is a dedication to ensure short hold times and quick responses to emails. To ensure the agency is maintaining the highest level of customer service, 星空体育app下载 has hired and is now training additional staff to answer phones and respond to emails.听听听

During the August quarterly Commission meeting, several rule and form changes were proposed and adopted. See the full agenda and materials on the Commission Meetings and Minutes page. The next Commission meeting is scheduled for November 8, 2021 at 10:00 a.m.

Form Changes

Changes were adopted to the following contract forms on an emergency basis:

Memorial Day was the last day of the Regular 87^th Legislative session. While there were several bills filed this session relating to the agency and its license holders, not all of those bills made it through the process.听 The following is a summary of bills that passed both houses of the Legislature and have a direct effect on license holders. The agency is currently working on implementing the provisions of these bills.听

On June 2, 2021,听星空体育app下载 inactivated听broker business entity licenses in error. 听Upon discovery of the error, staff worked听to resolve the issue听and听all licenses were restored by听Friday, June 4, 2021. 听For purposes of full disclosure, we wanted our license holders to know the details of what occurred and what we are doing to avoid any similar incident in the future.听