A TREC licensed inspector may perform inspections on commercial property, as long as no other laws prohibit the inspector from doing so (please check with the Texas Board of Professional Engineering to determine when a Professional Engineer license is required). Paragraph 11 is amended to further clarify the intent of the paragraph by replacing the terms factual statements and business details with informational items, which is now defined, and adding that real estate brokers cannot practice law and are prohibited from adding to, deleting, or modifying the contract unless drafted by a party to the contract or a partys attorney. If gutters are present, they are required to be inspected under 535.228(b)(1)(C). Both the Acts and TREC rules are a great resource for helping consumers know what to expect from a real estate service provider. It depends. As such, the buyer would still be represented by the sales agents previous broker. What kind of criminal matters will prevent an applicant from obtaining a real estate license? ], Yes. You should consult with a private attorney to determine whether you have a claim and what deadlines may apply to your claim. A licensed broker is prohibited from sharing compensation with anyone who acts in the capacity of a broker but is not licensed as a broker [TRELA 1101.651(a) and 1101.652(b)(11)]. I typically negotiate the resale of the properties for the corporation. All business entities engaged in real estate brokerage activity, including partnerships, need to be licensed. TREC leaves the determination of "similar" names to the Secretary of State's rules or to common law remedies. No, not unless the broker agrees to do so. Does TREC determine which brokerage business names may be registered with the agency if a name is similar to others already registered? TREC does not require a pre-inspection or employment contract to be signed by the parties to the inspection. TREC does not have jurisdiction over licensed repair providers. No. The term Escrow Agent is capitalized throughout the contract to reflect its status as a defined term. If you were to perform an inspection in connection with a transaction in which your broker was involved, your broker would need to disclose your relationship (as the brokers sponsored agent), and if you were paid or received compensation or anything of value from anyone in your office in connection with the inspection, you would also need to disclose this fact and obtain the clients prior permission. Yes. I have completed several courses for my law degree. [Rule 535.63(a)] To be eligible for a Texas license, an out-of-state license holder must meet all current Texas licensing requirements found on our website. [Rule 535.154(a)(4)], Team Name is a name used only by a team or group of one or more sponsored sales agents or brokers associated with this broker. Is the presence of a single drain or suction opening in a pool spa deficient and a required reporting item per TREC? No. Is wrinkled loose carpet a defect and required reporting item per TREC? Paragraph 3 is amended to add that a note must be secured by vendors and deed of trust liens only if required by the buyers lender. Yes, on the first contact with the license holder representing the buyer. Do I have to have pay for an option period to be able to buy the house? Do the Standards of Practice require inspectors to report as deficient a gas log fireplace with a damper that has not been blocked open? The proposed changes to 22 TAC 535.75(d) clarify that a provider is not prohibited from providing a course completion certificate to a student. Is a license required to sell a timeshare interest in Texas? A brokers name includes a brokers assumed business name that has been registered with TREC. Is the absence of combustion air in the bottom of the closet a required reporting deficiency? It depends. If the broker appoints an associated license holder to represent the seller and another associated license holder to represent the buyer, the individual agents may offer advice and opinions regarding the real estate transaction to the party each has been appointed to represent. Section 535.228(c)(3) of the Standards of Practice do require inspectors to report as a deficiency a starter course tab that is not sealed material. Verify the sponsoring broker information on the Summary page and click "Submit". It is important to remember that there will always be a single intermediary broker even if another license holder has been authorized to make the specific appointments. Yes. A sales agent may use her name with the term Team or Group, so long as the advertisement also includes the brokers name, and so long as the broker has registered the team or group name with the Commission. If the transaction concerns a residential lease of less than one year and a sale is not being considered, the locator is not required to provide the tenant with a copy of the statutory information about agency (Information about Brokerage Services). The Standards of Practice require inspectors to report as deficient the lack of exhaust ventilators in required areas. [TRELA 1101.355 and Rules 535.50(5) and 535.53]. if hired for that purpose. To become active, a professional inspector would need to send in the Return to Active Status form (or, for apprentice or real estate inspectors, the sponsorship form) along with the applicable fee and the required proof of insurance. A license holder may reproduce the IABS Form for the purpose of prefilling the Broker Contact Information section. The changes to the existing rules add the title of the form adopted by reference in each rule to the rule title and add clarifying language to specify which forms are for mandatory versus voluntary use by license holders. The link can also be "TREC Information About Brokerage Services," in at least 12 point font. Is a TREC inspector required to report the presence of CSST as a deficiency? No. Paragraph 18.B is amended to add that if no closing occurs, the escrow agent may require a written release of liability before releasing the earnest money. Texas Occupations Code Chapter 1101 - Real Estate Brokers and Sales Agents Yes. If you are a member, TAR may have a form that fits your needs. TREC requires licensure if the person seeks or has an expectation of compensation for offering to locate a unit in an apartment complex to a prospective tenant.