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 06/29/2001
ACTION Final/Adopted
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 that the licensee intends to receive the commission, rebate or fee, and obtaining the consent of the 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 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 adoption has been reviewed by legal counsel and found to be a valid exercise of the agency's legal authority.

Filed with the Office of the Secretary of State on June 12, 2001

TRD-200103318

Mark A. Moseley

General Counsel

Texas Real Estate Commission

Effective date: July 2, 2001

Proposal publication date: May 11, 2001

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



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