| 1 | 1 | | 89R11069 RAL-F |
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| 2 | 2 | | By: Middleton S.B. No. 1970 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | |
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| 6 | 6 | | |
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| 7 | 7 | | A BILL TO BE ENTITLED |
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| 8 | 8 | | AN ACT |
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| 9 | 9 | | relating to the duties of a real estate broker or sales agent who |
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| 10 | 10 | | lists real estate for sale. |
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| 11 | 11 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 12 | 12 | | SECTION 1. Subchapter L, Chapter 1101, Occupations Code, is |
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| 13 | 13 | | amended by adding Section 1101.562 to read as follows: |
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| 14 | 14 | | Sec. 1101.562. DUTIES OF LICENSE HOLDER LISTING REAL ESTATE |
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| 15 | 15 | | FOR SALE. (a) A license holder who enters into a listing contract |
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| 16 | 16 | | with a seller of real estate shall: |
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| 17 | 17 | | (1) share information regarding the real estate with |
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| 18 | 18 | | and respond to any inquiry from a license holder representing a |
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| 19 | 19 | | prospective buyer; |
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| 20 | 20 | | (2) at the seller's direction, show the property to |
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| 21 | 21 | | prospective buyers; and |
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| 22 | 22 | | (3) except as provided by Subsection (b), not later |
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| 23 | 23 | | than the first business day after the start date of the listing |
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| 24 | 24 | | contract, publicly advertise or market the real estate in or on a |
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| 25 | 25 | | publication, platform, or Internet website that is broadly |
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| 26 | 26 | | accessible to the public and any license holder representing |
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| 27 | 27 | | prospective buyers. |
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| 28 | 28 | | (b) Subsection (a)(3) does not apply if the seller in |
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| 29 | 29 | | writing waives the requirement to publicly advertise or market the |
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| 30 | 30 | | real estate. The commission shall adopt a form for a waiver under |
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| 31 | 31 | | this subsection. The form must state that the seller acknowledges |
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| 32 | 32 | | that the failure to publicly advertise or market the real estate |
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| 33 | 33 | | could result in: |
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| 34 | 34 | | (1) license holders and prospective buyers not being |
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| 35 | 35 | | aware that the real estate is for sale or of the terms under which |
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| 36 | 36 | | the real estate is being offered for sale; |
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| 37 | 37 | | (2) the real estate not being displayed on platforms |
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| 38 | 38 | | or Internet websites used by the public to search for property |
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| 39 | 39 | | listings; |
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| 40 | 40 | | (3) fewer offers to purchase the real estate; and |
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| 41 | 41 | | (4) a negative impact on the seller's ability to sell |
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| 42 | 42 | | the real estate at terms favorable to the seller. |
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| 43 | 43 | | SECTION 2. This Act takes effect September 1, 2025. |
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