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TREC to emphasize enforcement of Information About Brokerage Services form rules

Posted on July 11, 2017 by

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.