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Texas Real Estate Commission
Texas Consumer Notice
STERLING RESIDENTIAL®, REALTORS® IS LICENSED AND REGULATED BY THE TEXAS REAL ESTATE COMMISSION (TREC) AND IS ONLY LICENSED IN THE STATE OF TEXAS.
TREC ADMINISTERS TWO RECOVERY FUNDS WHICH MAY BE USED TO SATISFY JUDGMENTS AGAINST INSPECTORS AND REAL ESTATE LICENSEES INVOLVING A VIOLATION OF THE LAW. COMPLAINTS OR INQUIRIES SHOULD BE DIRECTED TO:
TEXAS REAL ESTATE COMMISSION
P O BOX 12188
AUSTIN, TX 78711-2188
What is the Texas Real Estate Commission (TREC)?
The Texas Real Estate Commission (TREC) is the Texas agency responsible for licensing real estate agents and protecting real estate consumers. TREC’s mission is to assist and protect consumers of real estate services by requiring that all real estate brokers and licensees meet and maintain specified levels of education to hold a license to act as a real estate agent.
TREC was formed in 1949 under the Texas Real Estate License Act (TRELA). The commission is formed of nine members, six real estate brokers and three members of the public appointed by the governor and confirmed by the state senate for six-year, staggered terms.
Two advisory committees provide information and expertise to TREC. The Broker-Lawyer Committee drafts and promulgates the Texas contract forms in use by real estate licensees, and the Texas Real Estate Inspection Committee advises TREC and administers the licensing and standards for Texas real estate inspectors.
What does TREC Regulate?
TREC is the state agency responsible for licensing real estate brokers and salespersons in Texas.
TREC requires that all real estate brokers and salespersons meet and maintain specified levels of education to hold a license to act as a real estate agent. Brokers and salespersons are required to follow the provisions of TRELA in all transactions and deal with the public in a competent and honest manner. The Commission also licenses real estate inspectors, residential service companies, real estate schools, rental locators and right-of-way agents, and registers timeshare properties.
Buyers and sellers can verify the legal qualifications and licensing status of real estate professionals offering brokerage services by visiting the Licensee Information Page on the TREC website.
Who Must be Licensed?
TRELA defines the persons and real-estate related activities requiring a Texas real estate license. Any person, working for a fee, commission, or other valuable consideration while performing for another person the selling, purchasing, exchanging, renting, leasing, negotiating, listing, auctioning, appraising, locating, or procuring of an interest in land or real property, leasehold or other, with the objective of effecting a purchase, sale, or real estate related transaction, is required to hold a real estate license. Consult Section 2 of TRELA which defines brokerage and real estate and contains the full text for more information.
Who is Exempt from Licensing Requirements?
Homeowners, selling their own property, are not required to hold a license and specific exemptions to the licensing requirements do exist for persons selling real estate while performing their duties as attorneys, trustees, or employees. Consult Section 3 of TRELA which defines the licensing exemptions and contains the full text for more information.
What is the Real Estate Recovery Fund?
The Real Estate Recovery Fund is available to consumers harmed by brokers or salespersons. TREC collects fees from real estate licensees and maintains the Real Estate Recovery Fund used to pay judgments for consumers harmed by brokers or salespersons licensed at the time the real estate transaction took place. Consumers should consult with TREC or an attorney of their choice for specific information about filing a claim.
How do I File a Complaint?
TREC accepts written, signed complaints against real estate licensees. Instructions and downloadable complaint forms are available on the TREC web site and submitted forms must contain the name of the real estate licensee against whom the complaint is being filed (respondent), the name and address of the person filing the complaint (complaintant), and information about the real estate transaction that resulted in the complaint.
For complete instructions visit the TREC page: How to File a Complaint.
Latest Blog Postings
Why should I pay asking price if the housing market has dropped 15%
Today’s Houston real estate asking prices are derived from local market conditions based on comparable sales prices paid by home buyers in a particular neighborhood. Despite recent sales volume declines, prices are holding steady across Houston. While that may not be true for all Houston area neighborhoods, there hasn’t been an overall 15% drop in Houston home values. The housing supply is growing — tending to favor home buyers — but it hasn’t increased enough to force home sellers into large double-digit price reductions.
Do Realtors share blame for mortgage mess?
A Houston Chronicle Real Estate discussion posted a few weeks ago asked if Realtors share blame for the mortgage crisis unwinding across the country. Citing dual-licensed Realtors (those holding real estate and mortgage brokers licenses) as part of the problem, some forum participants pointed to the potential conflict of interest between real estate and mortgage brokerage as a reason for the mortgage crisis, while others stated that dual-licensed Realtors couldn’t adequately perform both jobs as agent and mortgage broker. Both could be valid points — yet, the number of Realtors holding a both a real estate and mortgage license isn’t large enough to have contributed to the mortgage crisis in a significant way.
Houston Market Conditions
Buyer & Seller ResourcesJune 2008: Houston median house price buoyant despite slower sales
While most housing market indicators have been tracking negative for months, Houston’s median home price for existing single-family housing is positively buoyant despite steady declines in sale volumes in recent months — the median price increased 1.5% in June 2008 when compared to last year. Houston’s residential real estate housing market sales were lower again in June 2008 with a year-to-year sales decline of 15.1% — the slowest June sales volume since 2004. Nationally, sales were down 15.5%. Sales declines were across most property and price classes with the single largest declines in homes priced between $80,000 and $200,000. Pending sales were down over 20% indicating that sales declines will continue. Inventory supply and DOM are up almost 10% in year-to-year comparisons.
Real Estate News
- Getting a Mortgage Tougher for Buyers
- How the New First-Time Buyer Tax Credit Works
- House Passes Bill That May Stem Foreclosures
- Little-Known Loans for Buyers
- U.S. Senate Passes Housing Stimulus Bill
- Top 10 Cities to Buy a Home
- Fed Issues New Lending Rules
- Selling a Home in a Hurry Still Possible
- Tips for Buying Foreclosures
- Lawsuit Claims Countrywide Misled Borrowers