(a)A license holder [licensee] may not receive a commission, rebate, or fee in a transaction from a person other than the person the license holder [licensee ] represents without first disclosing to the license holder's [ licensee's] client that the license holder [licensee ] intends to receive the commission, rebate or fee, and obtaining the consent of the license holder's [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 party the license holder [licensee ] does not represent agrees to pay a service provider in the transaction, the license holder [licensee] must also obtain the consent of that party to accept a fee, commission or rebate from the service provider. As used in this section, the term "service provider" does not include a person acting in the capacity of a real estate broker or salesperson. (c)A license holder [licensee] may not enter into a contract or agreement with a service provider to a real estate transaction in which the license holder [ licensee] represents one or both of the parties if, pursuant to the contract or agreement: (1)the license holder [licensee] provides services for or on behalf of the service provider; and (2)the contract or agreement prohibits the license holder [licensee] from offering similar services for or on behalf of a competing service provider. (d)A license holder [licensee] may not accept a fee or payment for services provided for or on behalf of a service provider to a real estate transaction the payment of which is contingent upon a party to the real estate transaction purchasing a contract or services from the service provider. (e)A license holder [Effective March 1, 2011, a licensee] must use TREC Form RSC-1, Disclosure of Relationship with Residential Service Company, to disclose to a party to a real estate transaction in which the license holder [ licensee] represents one or both of the parties any payments received for services provided for or on behalf of a residential service company licensed under Texas Occupations Code Chapter 1303. (f)The Texas Real Estate Commission adopts by reference TREC Form No. RSC-1, Disclosure of Relationship with Residential Service Company, approved by the Commission [commission] for use by licensees to disclose payments received from a resident service company. This document is published by and available from the Texas Real Estate Commission, P.O. Box 12188, Austin, Texas 78711-2188, www.trec.texas.gov [www.trec.state.tx.us].
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-201404045 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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