Texas REALTORS® Score a Great Victory!

I am sure many of you may already know, but just in case you missed it. All Texas REALTORS® and TREPAC investors won a great victory at the Capitol during the 82nd Texas legislature. What victory you may be asking??? Thanks to your investments, and the efforts of TREPAC,  a new law was recently passed that exempts real estate brokerage activities from liability under the Deceptive Trade Practices Act.  If you didn’t already know TREPAC is the Texas Real Estate Political Action Committee. TREPAC

This new law potentially saves you thousands of dollars in attorney fees, court costs, and higher insurance premiums....not to mention a few sleepless nights too. I can certainly relate to paying those high deductibles on my E & O from a lawsuit that was filed against me and my broker about three years ago. At the time, I wasn’t sure I was going to survive in this industry, but I was fortunate that after two years of depositions and meetings with lawyers, all those Deceptive Trade Practice Act charges were finally dropped against me and my broker.

If you want some numbers, one Texas REALTOR® in San Antonio(but it was not me) recently racked up over $100,000 in attorney fees fighting a meritless lawsuit. Others have found that their E & O providers were unwilling to fight  DTPA claims and are advised to settle out of court for $5,000 to $10,000, which by the way, is the exact amount of their E & O deductible.  Kind of makes you wonder?? The deductible was what I was paying on when all the charges were dropped against us two years ago.  Thanks to our Agent Leadership Council(ALC), all my legal fees and debts were forgiven when the lawsuit was dropped. However, many agents are not always that fortunate.

It’s time to celebrate this hard fought victory for Texas Real Estate agents. I encourage all my fellow REALTORS®  to support and invest in TREPAC. I know I will continue to do so.Invest Today
If you want to help fend off the future threats to your business and keep TREPAC strong, please contribute today at TREPAC’s website, or remember to pay that extra amount when it time to pay your annual Board, and State memberships. It will be money well spent.

(Images provided by TREPAC)

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This post has been included in Texas Real Estate News Bexar County, TX Real Estate News San Antonio, TX Real Estate News
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26 Comments on Texas REALTORS® Score a Great Victory!

20 Most Recent Comments Displayed Show All

JUN
29
2011
307,289 Points 32 Featured Posts Outside Blog Called Shot Master

Great news Jerry! If anybody was ever wondering what the point is to donate to the Realtor Action Committees, that says it all!

10:12am • #7
590,733 Points 56 Featured Posts Outside Blog Called Shot Master

Hi Cathy, I see you have been busy this week, and I thought you were on vacation. Thanks for taking time off to check in today. Now, go and Enjoy the rest of your vacation!

 

10:23am • #8
590,733 Points 56 Featured Posts Outside Blog Called Shot Master

Yes, Brain. All of our Texas REALTORS® have a lot to be thankful for now with the efforts of TREPAC.

10:24am • #9
321,548 Points 18 Featured Posts Attended Rain Camp Called Shot Master

Jerry, isn't that wonderful?  It is great to have someone to fight and protect our interest as an agent, we really need to support them in return.

10:25am • #10
590,733 Points 56 Featured Posts Outside Blog Called Shot Master

Yes, Andrea. It great to see that our donations have got us some much needed legislation passed to help us in this industry.

Have a Great Day!

10:26am • #11
423,183 Points 8 Featured Posts Localism Sponsor Outside Blog
Great news Jerry! Thanks for posting and sharing the information!
10:35am • #12
590,733 Points 56 Featured Posts Outside Blog Called Shot Master

Yes, Rita. I thought this was a Great Victory for Texas. We certainly need to support any of these organizations that fight for our industry.

10:45am • #13
590,733 Points 56 Featured Posts Outside Blog Called Shot Master

Thanks, Maggie. I am sure all Texas REALTORS® will be grateful to know about this News.

10:49am • #14
1,055,279 Points 287 Featured Posts Outside Blog Called Shot Master

Jerry, That's the one thing about this business that makes us anxious, an unjustified law suit.  We try to be careful, treat people well, etc..... but it only takes one person to screw it all up.

11:18am • #15
4 Featured Posts Outside Blog

Jerry, That is certainly good news. I’m so tired of these ridiculous and merit less lawsuits. Even when you win, the time, stress and money spent is outrageous. So far I’ve been luck, thank the good Lord, but I know a few other contractors that have been hurt pretty bad and through no fault on their own. Congratulations, once again Texas passes one for the good guys. 

11:41am • #16
639,542 Points 53 Featured Posts Outside Blog Called Shot Master

Jerry,  It is great that you can rest assured now.  Some folks are sue happy and it makes it hard for everyone.

11:51am • #17
920,859 Points 81 Featured Posts Localism Sponsor Called Shot Master

Jerry, That is quite a success story and more personal victory for you! Glad to know someone is fighting the fight to help our industry become stronger and more united.

1:51pm • #18
590,733 Points 56 Featured Posts Outside Blog Called Shot Master

Yes, Bliz, I know we all try to be careful in this industry, my lawyer told me that I didn't do anything wrong, but I was still sued anyway. Only the attorneys win, since they get paid very well for their time and hours. Can you image how much they got paid for carrying this suit out for two years?

3:34pm • #19
590,733 Points 56 Featured Posts Outside Blog Called Shot Master

Yes, Micheal, I can certainly say the stress and sleepless nights has a way of pulling you down, and that's a lot of weight to carry around too. I am glad you have never had to go through one of these merit less law suits.

3:37pm • #20
590,733 Points 56 Featured Posts Outside Blog Called Shot Master

Yes, Belinda. I am sure with those attorneys who go after agents, that it is all about the MONEY. I am glad all that is behind me now. It was a Great Victory for Texas agents.

3:39pm • #21
590,733 Points 56 Featured Posts Outside Blog Called Shot Master

Yes, Wanda. It is a success story and a Great Victory for Texas agents too. I know I will always support and donate to groups who are fighting on our behalf.

3:41pm • #22
938,227 Points 74 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Great news for Texas Realtors and Brokers...always good to hear a success story!

5:47pm • #23
590,733 Points 56 Featured Posts Outside Blog Called Shot Master

Yes, Thanks, Anita. This was right on time for many agents in Texas. It's great to have a few organizations that are out there fighting to defend us.

7:03pm • #24
655,247 Points 29 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Jerry, I hope Trepac does not get shortchanged this next year because of the extra $40 we will be paying for National dues.  I know that I will still pay for both but I'm afraid this may be the way many cut their cost.

11:51pm • #25
JUN
30
2011
590,733 Points 56 Featured Posts Outside Blog Called Shot Master

Yes, Marchel. I know many agents do want to pay that extra $40, but they need to be thankful for this Great Victory against those merit less lawsuits. It's to our own benefits that we support TREPAC.

12:00am • #26

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