| (a) Referring a prospective buyer, seller, landlord, or tenant to another person in connection with a proposed real estate transaction is an act requiring the person making the referral to be licensed if the referral is made with the expectation of receiving valuable consideration. For the purposes of this section, the term "valuable consideration" includes but is not limited to money, gifts of merchandise having a retail value greater than $50, rent bonuses and discounts. (b) A person is not required to be licensed as a real estate broker or salesperson if all of the following conditions are met. (1) The person is engaged in the business of selling goods or services to the public. (2) The person sells goods or services to a real estate licensee who intends to offer the goods or services as an inducement to potential buyers, sellers, landlords or tenants. (3) After selling the goods or services to the real estate licensee, the person refers the person's customers to the real estate licensee. (4) The payment to the person for the goods or services is not contingent upon the consummation of a real estate transaction by the person's customers. |
| Source Note: The provisions of this §535.20 adopted to be effective January 1, 1976; amended to be effective October 21, 1997, 22 TexReg 10316; amended to be effective April 14, 1998, 23 TexReg 3682; amended to be effective August 25, 1999, 24 TexReg 6487 |
