S.B. No. 1968 proposes significant amendments to the Texas Occupations Code, specifically targeting the licensing and regulation of real estate professionals by the Texas Real Estate Commission. The bill broadens the definition of "qualifying real estate courses" by removing specific subtopics and introduces new requirements for broker and sales agent license applicants, including the completion of a broker responsibility course and a specified number of qualifying course hours. Additionally, it allows the commission to notify associated license holders of investigations and clarifies brokers' obligations when showing properties without representation. License holders are also required to maintain updated contact information with the commission.

Moreover, the bill establishes new requirements for real estate license holders before engaging in brokerage activities for prospective buyers of residential properties. It mandates a written agreement that details the services provided, termination dates, exclusivity, representation status, compensation, and negotiability of broker compensation. A new ground for disciplinary action is introduced for failing to enter into this required agreement. The bill also updates provisions regarding license suspension or revocation and removes outdated terms. It is set to take effect on January 1, 2026, with new regulations applying only to actions and applications submitted after this date.

Statutes affected:
Introduced: Occupations Code 1101.003, Occupations Code 1101.161, Occupations Code 1101.204, Occupations Code 1101.356, Occupations Code 1101.358, Occupations Code 1101.458, Occupations Code 1101.552, Occupations Code 1101.652, Occupations Code 1101.653 (Occupations Code 1101)