Landmark advocacy successes by Texas REALTORS®

August 01, 2020

In its first 100 years, Texas REALTORS® can claim several important legislative accomplishments that benefit you, the real estate industry, and all consumers. Here are a few and how they help you.

State Credentials Boost Your Credibility

After its inception in 1920, Texas REALTORS® spent years calling for a licensing act and real estate commission. That hard work finally paid off in 1939, when state leaders passed what became the Texas Real Estate License Act. In 1949, the Texas Real Estate Commission was founded, thanks in large part to the association’s efforts. These steps improve the professionalism, credibility, and accountability of real estate license holders.

Teaming Up with Lawyers Makes Transactions Smoother

REALTORS® and lawyers were at odds in the early 1970s over “creative” approaches to contracts. Texas REALTORS® helped smooth things over with the State Bar of Texas. The two organizations created the Broker-Lawyer Committee, defined the REALTOR® and lawyer roles, and wrote standardized forms. REALTORS® were recognized as fiduciaries, who put clients’ interests above their own. These actions make transactions simpler for all parties.

Higher Standards Improve Client Experience

REALTORS® believe that real estate professionals should be held to the highest standards. The association backed efforts to enforce the license law and establish minimum services all real estate license holders must provide. This ensures a better experience for clients.

Limiting Taxes Protects Everyone’s Wallets

The association has advocated throughout its history for lower real estate taxes and against new taxes, like sales taxes on services and real estate transfer taxes. Of course, keeping property taxes low and fending off new types of real estate taxes or fees helps make homeownership attainable for more Texans.

Home Equity Protection Helps Avoid Market Crashes

REALTORS® defend strong consumer protections that allow homeowners to access their hard-earned property equity. In the 1990s, Texas REALTORS® helped enshrine in the Texas Constitution strong home equity protections that prohibit homeowners from borrowing more than 80% of the value of their home minus what is still owed. In 2017 and 2019, REALTORS® advocated for modernizing these provisions. These safeguards have protected Texas from housing market crashes seen in other states.

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