Texas Statutes (Last Updated: January 4, 2014) |
OCCUPATIONS CODE |
Title 7. PRACTICES AND PROFESSIONS RELATED TO REAL PROPERTY AND HOUSING |
Subtitle A. PROFESSIONS RELATED TO REAL ESTATE |
Chapter 1101. REAL ESTATE BROKERS AND SALESPERSONS |
Subchapter A. GENERAL PROVISIONS |
Sec. 1101.002. DEFINITIONS
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In this chapter:
(1) "Broker":
(A) means a person who, in exchange for a commission or other valuable consideration or with the expectation of receiving a commission or other valuable consideration, performs for another person one of the following acts:
(i) sells, exchanges, purchases, or leases real estate;
(ii) offers to sell, exchange, purchase, or lease real estate;
(iii) negotiates or attempts to negotiate the listing, sale, exchange, purchase, or lease of real estate;
(iv) lists or offers, attempts, or agrees to list real estate for sale, lease, or exchange;
(v) auctions or offers, attempts, or agrees to auction real estate;
(vi) deals in options on real estate, including buying, selling, or offering to buy or sell options on real estate;
(vii) aids or offers or attempts to aid in locating or obtaining real estate for purchase or lease;
(viii) procures or assists in procuring a prospect to effect the sale, exchange, or lease of real estate;
(ix) procures or assists in procuring property to effect the sale, exchange, or lease of real estate;
(x) controls the acceptance or deposit of rent from a resident of a single-family residential real property unit; or
(xi) provides a written analysis, opinion, or conclusion relating to the estimated price of real property if the analysis, opinion, or conclusion:
(a) is not referred to as an appraisal;
(b) is provided in the ordinary course of the person's business; and
(c) is related to the actual or potential management, acquisition, disposition, or encumbrance of an interest in real property; and
(B) includes a person who:
(i) is employed by or for an owner of real estate to sell any portion of the real estate; or
(ii) engages in the business of charging an advance fee or contracting to collect a fee under a contract that requires the person primarily to promote the sale of real estate by:
(a) listing the real estate in a publication primarily used for listing real estate; or
(b) referring information about the real estate to brokers.
(1-a) "Business entity" means a "domestic entity" or "foreign entity" as those terms are defined by Section 1.002, Business Organizations Code.
(2) "Certificate holder" means a person registered under Subchapter K.
(3) "Commission" means the Texas Real Estate Commission.
(4) "License holder" means a broker or salesperson licensed under this chapter.
(5) "Real estate" means any interest in real property, including a leasehold, located in or outside this state. The term does not include an interest given as security for the performance of an obligation.
(6) "Residential rental locator" means a person who offers for consideration to locate a unit in an apartment complex for lease to a prospective tenant. The term does not include an owner who offers to locate a unit in the owner's complex.
(7) "Salesperson" means a person who is associated with a licensed broker for the purpose of performing an act described by Subdivision (1).
(8) "Subagent" means a license holder who:
(A) represents a principal through cooperation with and the consent of a broker representing the principal; and
(B) is not sponsored by or associated with the principal's broker.