TREC Updates: As of 11/13/17 you’ll need these Disclosures

Are these disclosures on your website and social media?

Here’s what you need to be aware of for all of your digital domination.  Make sure your business website and social media profiles have this information displayed and noticeable.

business website – a  website that is accessible to the public, has content controlled by the license holder, and has information about the license holder’s real estate business.

  • Must provide a link to the Consumer Protection Notice form in at least 10-point font in a readily noticeable place on the homepage.
  • The footer will work as long as the link is readily noticeable.
  • TREC added a new option for using only “TREC” as opposed to “Texas Real Estate Commission” in the link so long as the font size is increased to at least 12 point.
  • For social media, the links may be located in the account’s profile or on a separate page or website through a direct link from the profile.
  • Penalties can range from $500 to $3,000 per violation per day.

Doing CMAs?  Of course you are!  You need to know this.

  • License holders must provide new language in writing when giving a broker price opinion, comparative market analysis, or estimate worth or sales price—which includes automated valuation models (AVMs)
    • This needs to be reproduced verbatim and in at least 12-point type: “This represents an estimated sale price for this property. It is not the same as the opinion of value in an appraisal developed by a licensed appraiser under the Uniform Standards of Professional Appraisal Practice.”
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Adam Yera
Entusiasta de los bienes raíces y de la tecnología. Fundador de CompleteAgent.io, DigitalAgent.io, RovinnLabs.com, y BestMasons.com.
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