10/12/2020 - New TREC Gift Card Rule
regarding TCA 62-13-302(b)
For clarification, Tennessee REALTORS® made a request to the Tennessee Real Estate Commission (TREC) asking for a formal opinion. TREC discussed the matter at its most recent meeting on October 8, 2020. The following motion was made and received unanimous approval:
“It is the interpretation of the Tennessee Real Estate Commission at this time that gift cards are cash and are illegal to give as an inducement.”
This means that moving forward, any licensee participating in a program where the consumer is receiving a gift card which was paid for with money from the licensee will be subject to penalties from TREC for violating the Broker’s Act.
Code of Ethics Training (required by Dec. 31, 2020)
All REALTORS® are required to complete ethics training of not less than 2 hours, 30 minutes of instructional time within two-year cycles. The current two-year cycle will end Dec. 31, 2020.
NAR offers two online options:
FREE class (no CE credit), OR
$29.95 class (for 3 CE credits)
2019 Calendar Year Commission Cap (posted 8/15/2018)
Effective January 1, 2019, the commission cap will be $9,000. After an agent has contributed a cumulative calendar-year total of $9,000 to The Realty Association (company dollars) from the 10% portion of each commission, they will be paid 100% of all subsequent commissions received until the end of that calendar year.
Congratulations to all of you that have already exceeded the cap this year. We love writing those 100% checks!
The updated Independent Contractor’s Agreement can be viewed at:
Do you know about your website? (posted 8/15/2018)
You now have a wonderful new personal website with lead generation tools, and it’s FREE! Come to our next website training class to learn how to customize and profit from this incredible Realty Association benefit.
RealTracs billing system is changing: (posted 8/15/2018)
RealTracs is switching to a new monthly billing system beginning September 4th (for October billing cycle). The MLS fee will be $42/month. Details at:
Assign your SentriLocks to the correct property address:
SentriLock has added a new security feature to their mobile app, so make sure you assign each of your lockboxes to its proper listing address, otherwise other agents might not be able to open your lockbox using their mobile app.