| (a) A licensee may not receive a commission, rebate, or fee
in a transaction from a person other than the person the licensee represents
without first disclosing to the licensee's client that the licensee intends
to receive the commission, rebate or fee, and obtaining the consent of the
licensee's client. This subsection does not apply to referral fees paid by
one licensed real estate broker or salesperson to another licensed broker
or salesperson.
(b) If a person the licensee does not represent agrees to pay
a service provider in the transaction, the licensee must also obtain the consent
of that person to accept a fee, commission or rebate from the service provider.
As used in this subsection, the term "service provider" does not include a
person acting in the capacity of a real estate broker or salesperson.
|
| Source Note: The provisions of this §535.148 adopted to be effective January 1, 1976; amended to be effective February 5, 1981, 6 TexReg 272; amended to be effective May 2, 1996, 21 TexReg 3549; amended to be effective October 1, 2000, 25 TexReg 8646; amended to be effective July 2, 2001, 26 TexReg 4872 |
