The Texas Real Estate Commission met on May 7, and here’s a summary of actions relevant to Texas REALTORS®:
- Proposed new Release of Earnest Money form (different from TAR’s current form)
- Re-proposed changes to the Notice of Buyer’s Termination of Contract
- Re-proposed new Notice of Seller’s Termination of Contract
- Proposed removing the prohibition of using term realty as part of team names
- Proposed an exception to advertising rules for directional signs (e.g., open-house signs with arrows)
These proposals will be posted in an upcoming Texas Register, after which the public will have 30 days to comment. The earliest these changes could be adopted is at TREC’s August meeting.
So they had the meeting on the 7th and we still don’t know what they came up with in the meeting? What was the purpose of this posting.
If you click on the form name, the proposed form with changes opens for you to view.
The purpose is to let you know what has been proposed, gives you the opportunity to review the changes and make comments to TREC as to your thoughts regarding these proposals.
Very glad to see a Termination Form for Sellers…