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A BILL TO BE ENTITLED
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AN ACT
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relating to the duties of a real estate broker or sales agent who |
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lists real estate for sale. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter L, Chapter 1101, Occupations Code, is |
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amended by adding Section 1101.562 to read as follows: |
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Sec. 1101.562. DUTIES OF LICENSE HOLDER LISTING REAL ESTATE |
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FOR SALE. (a) A license holder who enters into a listing contract |
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with a seller of real estate shall: |
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(1) share information regarding the real estate with |
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and respond to any inquiry from a license holder representing a |
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prospective buyer; |
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(2) at the seller's direction, show the property to |
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prospective buyers; and |
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(3) except as provided by Subsection (b), not later |
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than the first business day after the start date of the listing |
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contract, publicly advertise or market the real estate in or on a |
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publication, platform, or Internet website that is broadly |
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accessible to the public and any license holder representing |
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prospective buyers. |
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(b) Subsection (a)(3) does not apply if the seller in |
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writing waives the requirement to publicly advertise or market the |
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real estate. The commission shall adopt a form for a waiver under |
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this subsection. The form must state that the seller acknowledges |
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that the failure to publicly advertise or market the real estate |
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could result in: |
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(1) license holders and prospective buyers not being |
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aware that the real estate is for sale or of the terms under which |
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the real estate is being offered for sale; |
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(2) the real estate not being displayed on platforms |
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or Internet websites used by the public to search for property |
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listings; |
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(3) fewer offers to purchase the real estate; and |
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(4) a negative impact on the seller's ability to sell |
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the real estate at terms favorable to the seller. |
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SECTION 2. This Act takes effect September 1, 2025. |