The Texas Real Estate Commission met on August 7 and adopted amendments to existing rules and proposed several more. 查看会议资料包, which provides more details about all the changes, 在TREC的网站上. Here’s a breakdown of a proposal related to BPOs, CMAs, and AVMs. Find a list of other rule changes proposed by TREC 在这里.
TREC proposed amendments to Section 535.17, Broker Price Opinion or Comparative Market Analysis. The current rule requires license holders to provide a written statement with specific language when giving a broker price opinion or comparative market analysis to 消费者. 美国职业足球大联盟s and RPR should provide the disclaimer when a BPO or CMA is created through these plat形式.
The proposed amendment adds “Estimated Worth or Sales Price”—which would include Automated Valuation Models (AVMs)—to the types of items given to 消费者 that require a written 信息披露 statement.
如果采用, the required 信息披露 statement would change to the following and would need to be reproduced verbatim and in at least 12-point type:
“This represents an estimated sale price for this property. It is not the same as the opinion of value in an appraisal used by a lender to approve a mortgage loan.”
Share your feedback on proposed rule changes with TREC
The earliest these proposed rule amendments could be adopted is during the next TREC meeting, 定于11月13日.
You can provide comments about these proposed rule changes for at least 30 days after they are published in the 德州注册 通过发邮件 一般.counsel@trec.德州.政府. The proposals from the August 7 meeting will likely go live August 25; you can enter “Texas Real Estate Commission” in the Agency Name field on this page to read the rules when they’re published in the 德州注册.
Comments made on this blog post will not be read by TREC and do not count as official feedback on proposed rule changes.
Other adopted or proposed rule changes from TREC:
- Does your linked IABS form comply with TREC规则? New proposal aims to clarify what’s required
- Proposed changes to requirements for the Consumer Protection Notice
- Proposed limits for when lawyers can draft 合同 for principals who aren’t their clients
- TREC proposes a new 广告 rule, adopts revisions to existing rule
- Rule amendment that would affect availability of TAR 形式
- TREC提出了两种新的形式
- Changes to earnest money and other paragraphs proposed
- 采用了与代理相关的规则更改
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