Which groups are required to prominently display TRECs consumer protection notice in their offices?

The revised Consumer Protection Notice (CN 1-3; TXR 2503) took effect February 1. You can find the revised notice at trec.texas.gov/forms/consumer-protection-notice and texasrealestate.com/realtorforms. The revised notice informs consumers that inspectors must carry E&O insurance.

The Texas Real Estate Commission requires sales agents and brokers to post the form by providing a link to it on their business websites and by displaying it at their physical place of business.

For your business websites, TREC requires that you place the link in a readily noticeable place on the homepage and label it either “Texas Real Estate Commission Consumer Protection Notice” in at least 10-point font or “TREC Consumer Protection Notice” in at least 12-point font.

Business websites include professional social media accounts. You can place the link in the account’s profile, or a separate page or website through a direct link from the social media platform or account holder profile, according to TREC.

TREC has updated the form on its website, so no action was needed if you have linked to trec.texas.gov/forms/consumer-protection-notice. If you saved a copy of the notice to your site, you must update it immediately.

For a physical place of business, TREC rules state that the notice must be displayed “in a readily noticeable location in each place of business the broker maintains.” Places of business typically means offices where sales agents and brokers meet clients and engage with the public. Readily noticeable means where the public can view the notice, not in a private office or behind a wall.

The notice cannot be altered in any way. Brokers cannot change the font or add their logo to the notice.

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Standards of ConductProfessional Ethics and Conduct•The Canons of Professional Ethics and Conduct are divided into five sections: fidelity,integrity, competency, consumer information, and discriminatory practices.•All real estate licensees in Texas are bound by the Canons of Professional Ethics andConduct, which are enforced by the Texas Real Estate Commission (TREC).•Fidelitymeans licensees must:•Not take undisclosed compensation or compensation from more thanone party without disclosing it to their clients.•Disclose personal interest in any transaction.•Put their client’s interests ahead of their own.•Competencymeans licensees must:•Learn and disclose all material facts about transactional properties.•Stay well-informed and current.•Put all financial obligations and commitments in writing, make sure allparties to the transaction sign the agreement, and give signed copies ofthe agreement to each party.•Stay within their scope of expertise, and always refer clients to qualifiedprofessionals.•Keep track of crucial deadlines to keep the transaction moving along.•Be able to explain the agency agreement.•Be knowledgeable and up to date on all issues, developments, and lawsrelating to the practice of real estate.•Integritymeans to:•Behave honestly and fairly.•Avoid misrepresentation. (Note: While licensees must be loyal to clients,this doesn’t mean covering up defects or failing to correct materialmisconceptions.)•Employ good judgment, and use caution.•Cooperate when it’s in the client’s best interests.•Consumer informationrefers to the TREC Consumer Protection Notice, whichmust be prominently displayed in each place of business. The following apply tothis canon:

•The purpose of the notice is to notify the public of the recovery trustaccount and provide contact information for customer complaints andinquiries.•Real estate inspectors and brokers must display the ConsumerProtection Notice in their offices.•Discriminatory practicesprohibits making and responding to inquiries ormaking disclosures which indicate a preference or limitation based race, color,religion, sex, national origin, ancestry, familial status, or disability.•The Texas Workforce Commission Civil Rights Division (TWCCRD)enforces fair housing laws. The Texas Real Estate Commission alsoenforces fair housing laws through the discriminatory practices canon.•Complaints against a Texas licensee for fair housing violations in Texas should besubmitted to TWCCRD, specifying the protected class that was discriminated against andidentifying the harm caused by the action.•The TWCCRD administrative law judge can impose monetary penalties of up to $10,000for the first offense, $25,000 for the second offense within five years, and $50,000 forthird and subsequent violations within a seven-year period.

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Where should the Texas Consumer Protection notice be displayed if anywhere?

What do the TREC canons require to be displayed in a readily noticeable location in each place of business the broker or inspector maintains?

What is the purpose of the Texas real estate Consumer Notice concerning hazards or deficiencies?

Which of the following is a true statement regarding the information about brokerage services notice?