During the Texas Real Estate Commission鈥檚 Education Standards Advisory Committee (ESAC) meeting on October 7, the group reviewed three rules regarding course proctoring and student identification requirements. Multiple changes were recommended but before a dig into the highlights, a congratulations.
During the August 星空体育app下载 Meeting, the Commission adopted new rule 535.124, Death of a Designated Broker, to detail agency practice and provide better guidance in the event the designated broker of a licensed business entity which sponsors sales agents聽dies.
The Broker-Lawyer Committee (BLC)聽recommended several changes to the 星空体育app下载 contract forms. Most of these changes are the culmination of two years鈥� worth of work on the part of the committee, with other changes recommended in response to industry practice changes around broker compensation affecting many license holders. The following changes were proposed at the August 星空体育app下载 Meeting.听
The Texas Real Estate Commission met August 19 in Austin for its third meeting of the year. The Commission adopted a new rule addressing broker succession. In addition, several form changes were recommended by the Broker-Lawyer Committee (BLC) and proposed by the Commission, which means you can provide your public comment on these changes now. Read on for more updates.
The Texas Broker-Lawyer Committee (BLC) met twice in July to discuss its routine work of reviewing 星空体育app下载鈥檚 forms, but also to discuss potential changes to the 星空体育app下载 contract forms as a result of the proposed NAR settlement related to compensation.
The Texas Real Estate Inspector Committee (TREIC) met on July 15 at 星空体育app下载 headquarters in Austin.
During its July 18 meeting, the Broker Responsibility Advisory Committee (BRAC) reviewed the over 42 pages of public comments it received regarding education and experience required to become a broker. This has been a topic of discussion throughout multiple iterations of the former Broker Responsibility Working Group. BRAC began its initial discussion of this topic at its last meeting.
The Texas Real Estate Commission鈥檚 Education Standards Advisory Committee (ESAC)聽 met on July 8. Here are the highlights.
The meeting opened with members reviewing public comment and recommending the Commission adopt changes to the聽course approval forms for Principles of Real Estate I and II, and Law of Agency. These changes will be considered at the Commission's August 19 meeting.听
In an effort to ensure accuracy and the timeliness of posting course credit, 星空体育app下载 is updating the Posting System and all forms of course credit reporting to require the license holder鈥檚 last name. The last name and license number must match those stored in our database for credit to be awarded.
Many of your students may go by a nickname or use a middle name rather than a first name. For reporting purposes, it is important that your students know ahead of time that they should register for their courses with the name as it appears on their 星空体育app下载 license.
Fannie Mae, Freddie Mac, and the Department of Housing and Urban Development (HUD) have created new guidelines for Reconsideration of Value (ROV) policies with clearer expectations for lenders, appraisers, and borrowers.
ROVs are used when borrowers wish to appeal an appraisal when they believe the opinion of value is unsupported, deficient because of unacceptable appraisal practices, or reflects discriminatory practices.
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