Your TREPAC Dollars at Work

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  • The occupations fee that Texas real estate brokers pay when applying for or renewing their two-year broker's license was repealed and takes effect September 1, 2015. This is a $300 savings.
  • Legislation passed this session giving Texas voters the chance to pass Proposition 1, which if passed could increase the homestead exemption and constitutionally ban real estate transfer taxes.
  • Texas REALTOR® magazine outlines what TAR achieved at the Capitol this year
  • Played a key role in addressing the state’s long-term water and public education needs
  • Helped enact critical consumer-protection laws in the property-tax lending industry
  • Fought for and passed a revision to the Deceptive Trade Practices Act that effectively exempts real estate brokerage from liability under the act—as long as the broker or agent hasn’t committed an unscrupulous or illegal act
  • Helped the Texas Real Estate Commission attain a self-directed, semi-independent status, insulating the agency from future state-mandated budget cuts and enabling TREC to better serve licensees and consumers
  • Passed a measure eliminating most future private transfer fees on real estate transactions
  • Enacted strong consumer protections in eminent-domain proceedings
  • Passed numerous HOA-reform bills that increase homeowners’ rights and promote more efficient, transparent and effective HOA management
  • Property Appraisals The most significant appraisal reform since 1979, provides additional oversight, uniform standards and helps to slow down the pace of increasing property appraisals.
  • Transfer Tax Defeated multiple proposals to tax real estate, including several bills requiring the creation of a tax on every deed recorded by the county clerk.
  • Tax on Personal Autos - Exempts personal vehicles that are also used for business purposes for the production of income from the required rendition for ad valorem tax purposes.
  • Property Tax Reduction - The largest in Texas history, reduces property taxes in excess of $15.7 billion by the year 2010.
  • Minimum Services Codifies regulations relating to a minimum level of service a real estate broker must provide to a consumer.
  • Eminent Domain Protects Texans against government entities that may want to seize their private property on behalf of other private ventures that may be more lucrative.
  • Commercial Lien Commercial brokers and appraisers may secure a commission with a lien against the   property.
  • Licensing of Mortgage Brokers Mortgage brokers for the first time are licensed by the state of Texas for the benefit of consumers.
  • Tort Reforms: DTPA Amendments A number of pro-real estate amendments passed, including: defendant can compel a plaintiff to mediate; commercial real estate was effectively removed from DTPA liability; improved additional proof requirements on plaintiffs; and added penalties for the plaintiff’s refusal of reasonable settlements
  • Seller Disclosure  Required a seller of residential property to use a promulgated property condition disclosure form, thereby decreasing liability on the seller and real estate licensee
  • Lock Law Enhancements Superseded common-law requirements for residential tenant security by specifying what types of security devices a landlord must provide to a tenant, thereby decreasing liability on landlords and brokers.
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