Texas Register
TITLE 22 EXAMINING BOARDS
PART 23TEXAS REAL ESTATE COMMISSION
CHAPTER 531CANONS OF PROFESSIONAL ETHICS AND CONDUCT
RULE §531.1Fidelity
ISSUE 03/07/2014
ACTION Proposed
Preamble Texas Admin Code Rule
A real estate broker or salesperson, while acting as an agent for another, is a fiduciary. Special obligations are imposed when such fiduciary relationships are created. They demand:

  (1)that the primary duty of the real estate agent is to represent the interests of the agent's client, and the agent's position, in this respect, should be clear to all parties concerned in a real estate transaction; that, however, the agent, in performing duties to the client, shall treat other parties to a transaction fairly;

  (2)that the real estate agent be faithful and observant to trust placed in the agent, and be scrupulous and meticulous in performing the agent's functions; and

  (3)that the real estate agent place no personal interest above that of the agent's client.

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 18, 2014

TRD-201400730

Kerri Lewis

General Counsel

Texas Real Estate Commission

Earliest possible date of adoption: April 6, 2014

For further information, please call: (512) 936-3092

 

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