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Which entity requires sales agents to treat all parties fairly? Form: What You Should Know
Interest (or any other applicable consumer-protection law) and you have a duty to disclose known or suspected violations of the law to the public. Condo Rules — Texas.gov Effective Date: 5/31/2016 Texas Code (Exhibit A) A real estate salesperson is not a professional, including an attorney, unless he or she has a license issued under this chapter and is qualified as an appraiser or appraiser's representative, a real estate appraiser or real estate appraiser representative, a mortgagee/manager, or a real estate broker, unless he or she is licensed by the State of Texas, unless he or she is serving as an agent under contract to a seller, unless he or she is serving in a sales agency or sales representative, and, if licensed, unless he or she is acting in that capacity in any other capacity. Exhibit B The term “real estate salesperson” has the common (commonly used) meaning as used in this article of law that applies to a “professional mortgage transaction investigator and consultant” who is not a broker, unless the real estate salesperson meets the following conditions: (1) the appraiser or appraiser's representative, real estate appraiser or real estate appraiser representative; (A) has the qualification, education and training standards as established by the State Banking Commissioner. (B) has been licensed as an appraiser or appraisal's representative, real estate appraiser or real estate appraiser representative, mortgagee/manager, or real estate broker under this article; or this article applies to the real estate salesperson; or (2) the real estate salesperson represents the title insurance company or broker in the transaction; or the real estate salesperson represents an entity in the transaction; however, in all other cases he shall be the licensed agent of the title insurance company or broker unless the real estate salesperson has a professional obligation as a mortgagee, mortgage broker, or real estate broker, other than under a sale or rental agreement or agreement for the purchase of a single residential dwelling, under which the seller is the primary obliged and the title insurance company or broker is the secondary obliged.
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