AUSTIN – The Texas Real Estate Commission this week passed amendments to rules regarding both broker responsibility and response times.
The commission increased the minimum number of times a broker must assist and coach a sponsored agent conducting a new type of brokerage activity from one to three times.
Also, the Obligation to Respond Timely rule now requires a broker or sales agent to respond to his or her principal, a sales agent representing another party in a real estate transaction, or an un unrepresented party in a real transaction within two calendar days.