Information about the new TREC IABS and Consumer Protection Notice
In light of recent TREC regulations, you are now required to provide Information About Brokerage Services to your clients. You need to add a link to this form (shown below) on your website, Facebook business page and any other advertising media. To learn more about this new regulation, click here.
Information about Brokerage Services (IABS) Facts:
The new IABS and Consumer Protection Notice are statutorily required forms for consumer information to help ensure that consumers of Real Estate Services better understand how a broker or agent can represent them and where to find help if they need it.
- The form should be filled out completely when it is linked to your website as well as when it is provided during the first substantive communication.
- The only change that can be made to the appearance of the mandatory form is that the contact information may be prefilled. Do not change text, font size, style or add your business logo.
- Business website means a website used to attract or conduct real estate brokerage activity, that includes a business Facebook page. For example: a website listed on a business card, yard sign or advertisements is a business website. If you have more than one business website then a link to the notice must be provided on the homepage of each business website.
- The link to the IABS must read, “Texas Real Estate Commission Information About Brokerage Services” and be in at least 10 point font in a readily noticeable place on your homepage.
- The IABS form linked to a broker’s business homepage only needs to contain information about the broker, including designated broker if an entity. If it is on the sales agent’s or associate’s homepage then the form should be filled out with the agent’s or associate’s information as well. If some contact information blanks do not apply, simply fill in “N/A.”
- If you are a “broker associate”, your name goes on the “Sales agent/Associate” line and the contact information for the brokerage you are associated with goes on the broker line.
- If you are providing the IABS through a link in an email, the link and a specific reference to the IABS must be in the body of the email and look like the rest of the text in the body of the email (not smaller or a lighter color).
Consumer Protection Notice Facts:
- The Consumer Protection Notice is required to be posted at your place of business AND on your website. This includes a business Facebook page.
- The Consumer Protection Notice cannot be altered in any way. Do not change the font or add your logo to the notice.
- The link to the Consumer Notice must read, “Texas Real Estate Commission Consumer Protection Notice”, and be in at least 10 point font in a readily noticeable place on your homepage.
Let me know exactly how I can help you grow your business and EARN it. You can reach me at 832-727-2102 or ACraft@OldRepublicTitle.com. Let’s SHARE SUCCESS in 2016!