| (a) Other than as contemplated by this section, the Real Estate License Act does not regulate the working agreements between or among licensees. (b) Licensure as either a Texas real estate salesperson or broker does not require membership in any trade association or local board. (c) A broker is responsible for the authorized acts of the broker's salespersons, but the broker may absent himself or herself as the broker chooses. (d) A salesperson may work in or out of a real estate office without direct supervision of the salesperson's sponsoring broker. This in no way lessens the degree of responsibility of the sponsoring broker for the salesperson's actions. (e) A real estate salesperson is not required by this Act to sell a home or other real property owned by the salesperson through the salesperson's sponsoring broker. Such may be a matter of civil agreement between the
two. (f) A real estate agent owes the very highest fiduciary obligation to the agent's principal and is obliged to convey to the principal all information of which the agent has knowledge and which may affect the principal's decision. It is the broker's obligation under a listing contract to negotiate the best possible transaction for the principal, the person the broker has agreed to represent. (g) A broker is responsible for the authorized acts of the broker's associates whether they are licensed as salespersons or brokers. (h) A broker is responsible for the proper handling of escrow monies placed with the broker, but whom the broker designates to sign checks is the broker's internal business and not regulated by this Act.
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