The Texas Real Estate Commission (TREC) adopts new rule §537.65, Standard Contract Form TREC No. 57-0, Notice to Prospective Buyer, without changes to the rule text as published in the August 26, 2022, issue of the Texas Register (47 TexReg 5067), and without changes to the form adopted by reference. The rule text will not be republished, but the adopted changes to the form adopted by reference are available through the Commission's website at www.trec.texas.gov.

The new rule is made as a result of the Commission's quadrennial rule review. The new rule pairs a previously existing form that was available for voluntary use by license holders with a rule to provide greater clarity about the form's purpose and use.

Texas real estate license holders are generally required to use forms promulgated by TREC when negotiating contacts for the sale of real property. These forms are drafted and recommended for proposal by the Texas Real Estate Broker-Lawyer Committee, an advisory body consisting of six attorneys appointed by the President of the State Bar of Texas, six brokers appointed by TREC, and one public member appointed by the governor. The new rule and form adopted by reference are recommended for adoption by the Texas Real Estate Broker-Lawyer Committee.

The Notice to Prospective Buyer form (which currently exists, but has not had a corresponding rule which adopts the form by reference) is amended to add a reference to the notice requirements regarding public improvement districts.

No comments were received specifically regarding the new rule or the form adopted by reference.

The new rule is adopted under Texas Occupations Code, §1101.151, which authorizes the Texas Real Estate Commission to adopt and enforce rules necessary to administer Chapters 1101 and 1102; and to establish standards of conduct and ethics for its license holders to fulfill the purposes of Chapters 1101 and 1102 and ensure compliance with Chapters 1101 and 1102.