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(a)A license holder may not receive a commission,
rebate, or fee in a transaction from a person other than the person
the license holder represents without first disclosing to the license
holder's client that the license holder intends to receive the commission,
rebate or fee, and obtaining the consent of the license holder's client.
This subsection does not apply to referral fees paid by one licensed
real estate broker or sales agent to another active licensed broker
or sales agent.
(b)If a party the license holder does not represent
agrees to pay a service provider in the transaction, the license holder
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 sales agent.
(c)A license holder may not enter into a contract
or agreement with a service provider to a real estate transaction
in which the license holder represents one or both of the parties
if, pursuant to the contract or agreement:
(1)the license holder provides services for or on
behalf of the service provider; and
(2)the contract or agreement prohibits the license
holder from offering similar services for or on behalf of a competing
service provider.
(d)A license holder 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 must use TREC No. RSC-2, Disclosure
of Relationship with Residential Service Company, to disclose to a
party to a real estate transaction in which the license holder 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 No. RSC-2, Disclosure of Relationship with Residential Service
Company, approved by the Commission for use by license holders to
disclose payments received from a residential 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.
The agency
certifies that legal counsel has reviewed
the adoption and found it to be a valid exercise of the agency's legal
authority.
Filed with the Office
of the Secretary of State on November 6, 2015
TRD-201504796 Kerri Lewis
General Counsel
Texas Real Estate Commission
Effective date: January 1, 2016
Proposal publication date: September 4, 2015
For further information, please call: (512) 936-3092
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