TX Occ Code § 1101.002 (2021)
2021 Texas Statutes|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 Sales Agents|Subchapter A. General Provisions|Section 1101.002. Definitions

Sec. 1101.002.  DEFINITIONS.  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 a lease to purchase or 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;(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; or(xii)  advises or offers advice to an owner of real estate concerning the negotiation or completion of a short sale; 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, that is qualified to transact business in this state.(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 sales agent 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)  "Sales agent" means a person who is sponsored by 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.|Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.  Amended by Acts 2003, 78th Leg., ch. 1276, Sec. 14A.151, eff. Sept. 1, 2003.Amended by: Acts 2011, 82nd Leg., R.S., Ch. 1064 (S.B. 747), Sec. 1, eff. September 1, 2011.Acts 2015, 84th Leg., R.S., Ch. 1158 (S.B. 699), Sec. 2, eff. January 1, 2016.|