Re-Star

Yes. Although this is not mandatory, it may still be placed on a sign. Are the disclosure and statutory information requirements applicable to commercial transactions, new home sales, farm and ranch sales or transactions other than residential sales? Unless an exception applies, the requirements apply to all proposed real estate transactions. The e... xceptions to the representation disclosure are in TRELA §1101.558(c). Are there exceptions when the disclosure notice about agency relationships (IABS) is not required? Yes. The Information About Brokerage Services (IABS) representations disclosure is not required when: (2) a meeting is with a party currently known to be represented by another license holder; or (3) the communication is at an open house and the communication concerns that same property. In addition, the IABS is not generally required when the license holder is acting solely as a principal in the transaction. Can I advertise a service provider such as an inspector, moving company, or repair contractor on my website? Yes, but if you offer, recommend, or promote the use of a service provider and expect to receive compensation from the service provider when a party uses the service, the ad must disclose that you may receive the compensation. [Rule 535.155 (effective May 15, 2018)] You may advertise an inspectors services, however, an inspector may not pay a fee or other valuable consideration for (1) a referral, (2) inclusion on a list of inspectors or preferred providers, or a similar arrangement; or (3) inclusion on a list of inspections contingent on other financial agreements. [Rule 535.220(e)(3)] Also, acceptance of a fee from a service provider may violate the Federal Real Estate Settlement Procedures Act (RESPA), which prohibits certain referral fees and kickbacks. Can a broker be the designated broker for more than one business entity? Can a broker pay all or a portion of a commission or fee to an unlicensed person? In general, no. However, a license holder may rebate all or a portion of the fee ...Read More