Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Administration topic
No spam. Unsubscribe anytime.
Real estate commission approves rulemaking package to conform rules to new state laws
Summary
Commissioners reviewed new statutory changes affecting wholesaling, renewal and grandfathering and voted to move a rulemaking package forward that implements multiple amendments effective July 1 and January 1, 2026.
Staff delivered a legislative update summarizing recent changes to Tennessee law that affect license renewal, wholesaling disclosure, grandfathering and the commission’s meeting requirements. Anna Matlock (rules/legal staff) walked commissioners through statutory revisions and the proposed rule amendments necessary to implement them.
Major statutory items summarized by staff included: extension of the time to submit an application after passing an exam (from six months to one year, with commission waiver discretion), new codified requirements for real-estate wholesaling transactions (public-chapter statutory language requiring buyer disclosure and a two-year cause of action window), elimination of the prior statutory requirement to hold at least one meeting in each grand division, and changes to lapse/reinstatement paths for temporarily retired and expired licensees (including a statutory cap on penalty fees and a 30-hour reinstatement option).
Staff also presented a draft rulemaking package to align commission rules with those statutory changes, noted editorial cleanups (for example, replacing the word 'classroom' with 'continuing education' where applicable), and identified effective dates (multiple statutory changes effective 07/01/2025; principal-broker CE supervision requirement effective 01/01/2026). The commission voted unanimously to advance the draft rule package to the formal rulemaking process and to schedule the associated rule hearing steps.
