The Texas Real Estate Commission (TREC) adopts an amendment to §535.148, concerning a real estate licensee's receiving an undisclosed commission or rebate, without changes to the proposed text as published in the May 11, 2001, issue of the Texas Register (26 TexReg 3450). The amendment requires a licensee to obtain the consent of the licensee's client, rather than both parties in the transaction, when the licensee receives a fee, commission, or rebate from a person other than the licensee's client. In transactions in which a licensee is receiving a payment for referring a service provider who is being paid by a party the licensee does not represent, the amendment will require the licensee to obtain the consent of the other party to receive the payment. Adoption of the amendment is necessary to simplify disclosure requirements for licensees, while ensuring material disclosures are made to the appropriate persons.

No comments were received regarding the proposal.

The amendment is adopted under Texas Civil Statutes, Article 6573a, §5(h), which authorizes the Texas Real Estate Commission to make and enforce all rules and regulations necessary for the performance of its duties.