 As of now, the only way a license holder can receive compensation through a business entity is by obtaining a?business entity real estate broker license. Effective January 2024, license holders will have the option to register LLCs and S-Corporations (S-Corps) with TREC for the sole purpose of receiving compensation, as long as those entities meet certain requirements.?The registered entity cannot perform any other brokerage activity and must be 51% owned by the license holder on whose behalf the entity receives compensation.
 Commissioner Chance Brown explains what the change means for brokers and sales agents, and how each does?business.?
 Find out what you which documents you?ll need to support your business entity?s registration, which you will email to TREC after submitting your application and payment online.
Under Texas law, if a seller?s property is located in a water district, like a municipal utility district (MUD), the seller must provide a notice that includes certain specific information to the buyer prior to execution of the contract.?
Water districts are required to post the notice containing the information in this form on the district?s website. However, if the district does not have the notice on its website, the seller can obtain the information from the district and then could use that information to complete the proposed voluntary form,?Notice to Purchaser of Special Taxing or Assessment District.
Submit online comments?about the proposed form and the associated rule by December 24. The earliest the form could be adopted by the Commission is February 2024.
2024 marks 75 years of the Texas Real Estate Commission (TREC) and its work to protect consumers in their real estate transactions. As that new chapter soon opens, here are some highlights from the Commission?s efforts during the last 12 months
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