TREC to emphasize enforcement of Information About Brokerage Services form rules

Is your IABS form filled out and posted to all your business websites?

“We’re emphasizing IABS rules because far too many license holders are still not in compliance,” says Texas Real Estate Commission Chairman Avis Wukasch. “Also, now that the requirement for license holders to identify themselves in advertising as a licensed broker or agent has been eliminated, it makes the proper display and delivery of the IABS notice even more important for consumer protection.”

What’s required?

Texas law requires all agents and brokers to provide written notice regarding information about brokerage services at the first substantive communication with a prospective client. The Information About Brokerage Services form is the required method to provide that information to those parties.

Do you have a website?

Even if you deliver the required form in person or via email to prospective clients, you’re required to post a completed IABS form on the homepage of your business website. “Completed” means that all applicable fields are filled out—blank forms don’t count.

What counts as a business website?

If the URL is listed on your business card, yard sign, or ad, it’s a business website. TREC says it’s “any website used to attract or conduct real estate brokerage activity”—that includes Facebook business pages. If you have more than one business website, a link to your completed IABS form must be provided on the homepage of each one.

Where to get more compliance information

Go to the commission’s website for tips and videos to help you comply.

Advertisements

About Texas Association of REALTORS®

The voice for Texas real estate
This entry was posted in Legal and tagged , , , . Bookmark the permalink.

11 Responses to TREC to emphasize enforcement of Information About Brokerage Services form rules

  1. Thanks for the update, now if you can only add exact steps to take to accomplish this requirement please.

    Liked by 2 people

  2. ran1025 says:

    This is one of the requirements that my clients don’t mind once they realize that the law requires this of all real estate agents. Problem though is trying to explain it to customers at an Open House who are casual browsers. “I’m not signing anything. I don’t care what the State says” OK would you just initial here that says you refuse to sign.”

    One of the brilliant attorneys who drafted this form should be required to reduce the IABS to about three sentences and then add in big,bold letters (THIS FORM IS REQUIRED BY THE STATE OF TEXAS-IT DOES NOT OBLIGATE YOU TO PURCHASE )

    Agents have enough trouble getting signatures on Buyer Rep Forms and Listing Agreements, this form only serves to add to the distrust. As hard as the profession has worked to build the bonds of trust, this form serves to try to kill an ant with a sledgehammer.

    Like

    • David J Davis says:

      Considering there is no requirement for the consumer to sign the form, that’s not going to happen any time soon. All that is required is that licensees give it to the consumer. By the way, did you know that an open house is one the scenarios in which you don’t have to give the IABS?

      Liked by 2 people

  3. CLMyers says:

    What about if we only use our HAR, et al other association’s website? It would be helpful if HAR… just added it to all of ours. I’m sure they can or is it not required there?

    Like

  4. How are they going to be enforcing the IABS requirement, now that they are cracking down? I’ve heard that the IABS comes up to TREC in mediations / lawsuits, well after the transaction takes place. Seems like TREC needs to take more proactive actions if it’s a problem.

    Like

    • David J Davis says:

      I doubt seriously there is money in the budget (at least I hope not) to set about screening for potential IABS violations, but websites are pretty easy to police and look at. Go to your favorite search engine and type “real estate broker” or “REALTOR” and bang. There you are with hundreds of sights to looks at.

      Like

  5. Rebecca Habib says:

    I believe TREC will be checking and should have been for years…it is very easy for them to check. They can issue mass emails as potential customers – without the mass “undisclosed recipients” apparent – to MLS individuals in different areas at different times. Every time I respond to a (first contact) customer or client email I attach both completed IABS and Consumer Protection Forms. I want the customer or client to read and understand these forms with all of the brokerage information complete.

    Like

  6. Richard Weeks says:

    If they really want to crack down they should have a section on their website where you could enter a website url that is not in compliance.

    Liked by 1 person

    • ddavis1038 says:

      I’m not real sure of the point of your comment. Are you saying that they (TREC) haven’t been informative enough with how to correct a problem, or are you saying the complaint of a non compliant website should be anonymous (that’s not likely to happen due to the requirement that all complaints be signed by the complainant?)

      Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s