(a)(No change.)
[(b)A person may acquire an option
or contract to purchase real estate and then sell the option or contract,
or offer to sell the option or contract, without having a real estate
license provided the person does not use the options or contracts
to purchase to engage in the real estate brokerage business.]
(b)[(c)] A person who owns property
jointly may sell and convey title to his or her interest in the property,
but to act for compensation or with the expectation of compensation
as an agent for the other owner, the person must be licensed unless
otherwise exempted by the Act.
(c)[(d)] A real estate license
is not required for an individual employed by a business entity for
the purpose of buying, selling, or leasing real property for the entity.
An entity is considered to be an owner if it holds record title to
the property or has an equitable title or right acquired by contract
with the record title holder. An individual employed by a business
entity means a person employed and directly compensated by the business
entity. An independent contractor is not an employee.
(d)[(e)] Trade associations
or other organizations that provide an electronic listing service
for their members, but do not receive compensation when the real estate
is sold, are not required to be licensed under the Act.
(e)[(f)] Auctioneers are not
required to be licensed under the Act when auctioning real property
for sale. However, a licensed auctioneer may not show the real property,
prepare offers, or negotiate contracts unless the auctioneer is also
licensed under the Act.
(f)[(g)] An answering service
or clerical or secretarial employees identified to callers as such
to confirm information concerning the size, price and terms of property
advertised are not required to be licensed under the Act.
The agency
certifies that legal counsel has reviewed
the proposal and found it to be within the state agency's legal authority
to adopt.
Filed with the Office
of the Secretary of State on February 15, 2017
TRD-201700646 Kerri Lewis
General Counsel
Texas Real Estate Commission
Earliest possible date of adoption: April 2, 2017
For further information, please call: (512) 936-3092
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