Sec. 1101.651. CERTAIN PRACTICES PROHIBITED. (a) A licensed broker may not pay a commission to or otherwise compensate a person directly or indirectly for performing an act of a broker unless the person is:
(1) a license holder; or
(2) a real estate broker licensed in another state who does not conduct in this state any of the negotiations for which the commission or other compensation is paid.
(b) A sales agent may not accept compensation for a real estate transaction from a person other than the broker that is sponsoring the sales agent or was sponsoring the sales agent when the sales agent earned the compensation.
(c) A sales agent may not pay a commission to a person except through the broker that is sponsoring the sales agent at that time.
(d) A broker and any broker or sales agent appointed under Section 1101.560 who acts as an intermediary under Subchapter L may not:
(1) disclose to the buyer or tenant that the seller or landlord will accept a price less than the asking price, unless otherwise instructed in a separate writing by the seller or landlord;
(2) disclose to the seller or landlord that the buyer or tenant will pay a price greater than the price submitted in a written offer to the seller or landlord, unless otherwise instructed in a separate writing by the buyer or tenant;
(3) disclose any confidential information or any information a party specifically instructs the broker or sales agent in writing not to disclose, unless:
(A) the broker or sales agent is otherwise instructed in a separate writing by the respective party;
(B) the broker or sales agent is required to disclose the information by this chapter or a court order; or
(C) the information materially relates to the condition of the property;
(4) treat a party to a transaction dishonestly; or
(5) violate this chapter.
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.
Amended by:
Acts 2015, 84th Leg., R.S., Ch. 1158 (S.B. 699), Sec. 68, eff. January 1, 2016.
Section: Previous 1101.609 1101.610 1101.611 1101.612 1101.613 1101.614 1101.615 1101.651 1101.652 1101.653 1101.654 1101.655 1101.656 1101.6561 1101.657 NextLast modified: September 28, 2016