I just returned from our Texas Realtors®, Winter Meeting. We received many updates from our state licensing commission, legal updates, and legislative updates. In particular, one new requirement for brokerages in Texas I believe is much needed.
New TREC requirement:
Any agent who has not written THREE of LIKE contracts MUST have their broker assist them. So, if an agent has never written an offer for New Home Construction at least three times, they will need to reach out to their broker for review and assistance.
Why I like this new requirement:
- This causes agents with little or no experience to reach out for help. I often see agents who don't want to "bother their broker", or, cannot reach their broker and they attempt to complete a contract they don't understand.
- By requiring more assistance, agents are taught rather than guessing. And, this, in turn, provides more protection for the consumer.
- The importance of brokers engaging with their agents is encouraged.
- Competence is increased which of course, is a NAR ethics requirement.
Agents must recognize the importance of proper execution of these legal documents. We must never lose sight of the legalities that come with real estate contracts, addenda, and disclosures.
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