Wholesaling in San Antonio, TX

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A question that keeps popping up in my mind is does what TREC have complete control in what clauses can and cannot be included in a contract, and more importantly, can TREC nullify clauses if those clauses are against what TREC recommends?

In other words, according to TREC you as a wholesaler who doesn not have a real estate license, cannot market a property through pictures or with a statement saying you are selling a house.  However, if you and the seller sign a contract where you are upfront with the seller or any other clause, inform him or her of your steps to market the property, seller agrees and signs the contract, then can TREC legally object and get you into legal trouble if you have the seller saying it is okay?

In Texas, is is okay to contact owners in preforeclosure?