星空体育app下载

The Texas Real Estate Commission met May 2, 2022. In addition to hearing updates from 星空体育app下载 staff, the Commission contemplated a proposed new flood disclosure form for leases, non-substantive proposed changes from the quadrennial rule review, and adopted a rule change for easement or right-of-way (ERW) agents. The Commission also heard a presentation from , executive director of the Texas Real Estate Research Center at Texas A&M University.

Market Trends and Annual Report from Texas Real Estate Research Center

Texas Real Estate Research Center Executive Director Gary Maler says don鈥檛 believe the experts when it comes to what will happen next in the economy. "The truth is, we don鈥檛 know what鈥檚 going to happen. ... There are all kinds of opinions in the Center 鈥� so we鈥檙e divided within the house about what we think is going on."

Maler said that Texas is one of the leading states in terms of population growth, and that Austin attracted the most people from Los Angeles, while Houston attracted the most Californians overall. Almost 45% of Dallas and Houston population increase is from foreign immigrants.

"Home prices are up by double digits just about everywhere,"聽says Maler. He shared other stats, including that:

• There is one month鈥檚 supply of homes
• Housing sales are up 6.1% in 2021
• The average price is up 16.1%
• Price per square foot up is up almost 20%.

Adopted Changes

ERW Agent Requirements

What Changes?

Generally, the amendments to Chapter 535 add requirements related to the completion of qualifying and continuing education courses to obtain or maintain a certificate of registration. All amendments implement statutory changes enacted by the 87th Texas Legislature. The changes set forth rules for education providers and ERW agents and applicants, as well as address rules for probationary certificates.

Why the Changes?

, passed during the 87th Texas Legislative Session, requires that 星空体育app下载 adopt rules related to the requirements for ERW agents.

When Do These Rule Changes Become Effective?

These adopted changes become effective September 1, 2022, except for 535.406, which will have an effective date of January 1, 2023, to correspond with implementation of continuing education requirements in HB 2730.

Proposed Changes

Quadrennial Rule Review

Texas law requires state agencies, including the Commission, to undergo a comprehensive rule review every four years. During this process, the Commission reviews all currently enacted rules to determine if they should be continued, amended, or repealed.

Chapter 537, Professional Agreements and Standard Contracts

The proposed amendments and new rules to Chapter 537 are made as a result of the Commission鈥檚 quadrennial rule review and are technical or non-substantive in nature.

Texas real estate license holders are generally required to use forms promulgated by 星空体育app下载 when negotiating contacts for the sale of real property. The proposed changes to the existing rules add the title of the form adopted by reference in each rule to the rule title and add clarifying language to specify which forms are for mandatory versus voluntary use by license holders. The new rules pair previously existing forms that were available for voluntary use by license holders with a rule to provide greater clarity about the forms鈥� purpose and use. These proposed amendments and new rules will be posted in the Texas Register with an open public comment period forthcoming.

Proposed Flood Disclosure Form for Leases

requires a landlord to disclose, in certain situations, whether the landlord is aware that the dwelling is located in a 100鈥恲ear floodplain or that the dwelling has flooded within the last five years. In response, the Broker-Lawyer Committee recommended the Commission propose a voluntary new form, Landlord鈥檚 Floodplain and Flood Notice (星空体育app下载 54-0).

Because landlords of temporary residential leases are not exempted, the proposed changes also add a new paragraph referencing the notice in the Seller鈥檚 Temporary Residential Lease (星空体育app下载 15鈥�5) and the Buyer鈥檚 Temporary Residential Lease (星空体育app下载 16-5).

Additionally, the proposed amendments to 535.26, Standard Contract Form 星空体育app下载 No. 15鈥� 5, and 535.27, Standard Contract Form 星空体育app下载 No. 16鈥�5, contain proposed changes made as a result of the Commission鈥檚 quadrennial rule review. Those changes add the corresponding standard contract form title to the rule title and add clarifying language to specify that both forms adopted by reference in these rules are for mandatory use by license holders.

The earliest these changes and the proposed new form could be adopted is at the August Commission meeting with a potential effective date later this year. The public comment period will open after the proposals are published in the Texas Register.

New Rule Chapter Opened for Quadrennial Rule Review

The rules found within Chapter 535, General Provisions, will be reviewed and considered for re-adoption, revision, or repeal. The review will include whether the reasons for initially adopting these rules continue to exist.

Where to Find Meeting Materials聽

You can find redlined versions of forms and rules in the meeting materials packet on the meeting page.