Texas Register
TITLE 22 EXAMINING BOARDS
PART 23TEXAS REAL ESTATE COMMISSION
CHAPTER 535PROVISIONS OF THE REAL ESTATE LICENSE ACT
SUBCHAPTER NSUSPENSION AND REVOCATION OF LICENSURE
RULE §535.148Receiving an Undisclosed Commission or Rebate
ISSUE 05/11/2001
ACTION Proposed
Preamble Texas Admin Code Rule
(a) A licensee may not receive a commission, rebate, or fee in a transaction from a person other than the person the licensee represents without first disclosing to the licensee's client [all parties to the transaction] that the licensee intends to receive the commission, rebate or fee, and obtaining the consent of the licensee's client [all parties]. This subsection [section] does not apply to referral fees paid by one licensed real estate broker or salesperson to another licensed broker or salesperson [real estate license to another licensee].

(b)If a person the licensee does not represent agrees to pay a service provider in the transaction, the licensee must also obtain the consent of that person to accept a fee, commission or rebate from the service provider. As used in this subsection, the term "service provider" does not include a person acting in the capacity of a real estate broker or salesperson.

This agency hereby certifies that the proposal has been reviewed by legal counsel and found to be within the agency's legal authority to adopt.

Filed with the Office of the Secretary of State, on April 24, 2001

TRD-200102385

Mark A. Moseley

General Counsel

Texas Real Estate Commission

Earliest possible date of adoption: June 10, 2001

For further information, please call: (512) 465-3900

 

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