| (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:
(1) money;
(2) gifts of merchandise having a retail value greater
than $50;
(3) rent bonuses; and
(4) discounts.
(b) A person is not required to be licensed as a real
estate broker or sales agent 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
license holder 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 license holder, the person refers the person's customers to
the real estate license holder.
(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; amended to be effective January 1, 2011, 35 TexReg 11674; amended to be effective January 1, 2015, 39 TexReg 9669; amended to be effective June 11, 2023, 48 TexReg 2948 |
