(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 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 license holder [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 license holder [licensee], the person refers the person's customers to the real estate license holder [ 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.
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 August 25, 2014
TRD-201404021 Kerri Lewis
General Counsel
Texas Real Estate Commission
Earliest possible date of adoption: October 5, 2014
For further information, please call: (512) 936-3092
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