Section 1101.559 - Broker Acting As Intermediary(a) A broker may act as an intermediary between parties to a real estate transaction if: (1) the broker obtains written consent from each party for the broker to act as an intermediary in the transaction; and(2) the written consent of the parties states the source of any expected compensation to the broker.(b) A written listing agreement to represent a seller or landlord or a written agreement to represent a buyer or tenant that authorizes a broker to act as an intermediary in a real estate transaction is sufficient to establish written consent of the party to the transaction if the written agreement specifies in conspicuous bold or underlined print the conduct that is prohibited under Section 1101.651(d).(c) An intermediary shall act fairly and impartially. Appointment by a broker acting as an intermediary of an associated license holder under Section 1101.560 to communicate with, carry out the instructions of, and provide opinions and advice to the parties to whom that associated license holder is appointed is a fair and impartial act.Tex. Occ. Code § 1101.559
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. 6/1/2003.