(a) Repealed by Acts 2015, 84th Leg., R.S., Ch. 1158 , Sec. 92, eff. January 1, 2016.
(b) A license holder who represents a party in a proposed real estate transaction shall disclose, orally or in writing, that representation at the time of the license holder's first contact with:
(1) another party to the transaction; or
(2) another license holder who represents another party to the transaction.
(b-1) At the time of a license holder's first substantive communication with a party relating to a proposed transaction regarding specific real property, the license holder shall provide to the party written notice in at least a 10-point font that:
(1) describes the ways in which a broker can represent a party to a real estate transaction, including as an intermediary;
(2) describes the basic duties and obligations a broker has to a party to a real estate transaction that the broker represents;
(3) describes the basic obligations a broker has to a party to a real estate transaction that the broker does not represent; and
(4) provides the name, license number, and contact information for the license holder and the license holder's supervisor and broker, if applicable.
(b-2) The commission by rule shall prescribe the text of the notice required under Subsections (b-1)(1) and (2) and establish the methods by which a license holder shall provide the notice.
(c) A license holder is not required to provide the notice required by Subsection (b-1) if:
(1) the proposed transaction is for a residential lease for less than one year and a sale is not being considered;
(2) the license holder meets with a party who the license holder knows is represented by another license holder; or
(3) the communication occurs at a property that is held open for any prospective buyer or tenant and the communication concerns that property.
(d) Repealed by Acts 2015, 84th Leg., R.S., Ch. 1158 , Sec. 92, eff. January 1, 2016.
(e) Repealed by Acts 2015, 84th Leg., R.S., Ch. 1158 , Sec. 92, eff. January 1, 2016.