I am requesting your help in drafting an ivitation for inspectors and the general public to come meet with the Real Estate Commission to have their voices heard.
Any input would be appreciated and if you prefer not to post on this public forum my e-mail is firstname.lastname@example.org
Please let’s not get into the pros and cons of in$urance. I’m looking for editorial input, only.
Thanks in advance.
Dear fellow inspectors and concerned citizens,
This may be the last chance to have your voice heard. The TREC commissioners will meet again on October 8, 2007 at 9:00 am. If you believe the mandated insurance coverage rules will negatively impact, in any way, real estate consumers, your profession, livelihood and family I request you take action and join me, clients, family members, friends and my peers in bringing our concerns before the commission. The commissioners can, if we can be persuasive enough and they choose to, have a final ruling (vote) on this matter before the Attorney General review is completed.
As you probably already know there is already verbiage in our profession’s Occupations Code that disallows negligence, incompetence and dishonesty in our profession.
These acts are against the laws of our state and a recovery fund is already in place for consumers, to cover these events when they do occur in our profession.
TEXAS OCCUPATIONS CODE
CHAPTER 1102. REAL ESTATE INSPECTORS
SUBCHAPTER G. PROHIBITED ACTS
§ 1102.301. NEGLIGENCE OR INCOMPETENCE. An inspector may
not perform a real estate inspection in a negligent or incompetent
§ 1102.302. AGREEMENT FOR SPECIFIC REPORT;
DISHONESTY. An inspector may not:
(1) accept an assignment for real estate inspection if
the employment or a fee is contingent on the reporting of:
(A) a specific, predetermined condition of the
improvements to real property; or
(B) specific findings other than those that the
inspector knows to be true when the assignment is accepted; or
(2) act in a manner or engage in a practice that:
(A) is dishonest or fraudulent; or
(B) involves deceit or misrepresentation.
§ 1102.305. VIOLATION OF LAW. An inspector may not
violate this chapter or a rule adopted by the commission.
SUBCHAPTER H. REAL ESTATE INSPECTION RECOVERY FUND
§ 1102.351. REAL ESTATE INSPECTION RECOVERY FUND. The
commission shall maintain a real estate inspection recovery fund to
reimburse aggrieved persons who suffer actual damages from an
inspector’s act in violation of Subchapter G. The inspector must
have held a license at the time the act was committed.
Errors & Omissions and General Liability insurance do not, cannot and will not cover any of the above acts. Nor do they benefit Texas consumers in any way. There is no insurance coverage available on this planet that will cover an inspector if and when these events occur.
Mandating these coverage’s is like saying it is against the law to rob banks but here is some insurance you can purchase just in case you what to make robbing banks your chosen career path.
In closing I hope to see everyone receiving this in Austin October 8, 2007 at 9:00 am
Texas Real Estate Commission
1101 Camino La Costa
Austin, TX 78752
Map to TREC
Driving Directions to TREC
(512) 459-6544 or 1-800-250-TREC (8732)
8:00 a.m. - 5:00 p.m. Monday - Friday
Please feel free to pass this on to anyone you know that could be impacted by these new rules and contact me by e-mail or by phone after 6pm any day of the week.