Legal Question in Real Estate Law in Texas
Information Brokering
What are the legal requirements for acquiring leads on home buyers, then charging real estate agents a percentage of their commissions for access to that lead, should that lead convert to a buyer? Do I also need to be a licensed real estate agent? If so, are there any viable and legally unquestionable loopholes?
Asked on 5/27/09, 9:35 pm
1 Answer from Attorneys
Cheryl Rivera Smith
The Smith Law Firm
Re: Information Brokering
You need to be a real estate agent to receive a referral fee. Check with the Texas Real Estate Commission for the code of ethics.
Answered on 5/28/09, 6:08 pm