Yes, but The Real Estate License Act states that, as a license holder, you may only receive compensation from more than one party in a transaction if you have the full knowledge and consent of all parties. It’s a good idea for you to get the necessary consents in advance and in writing.
In addition to the legal requirement, Article 7 of the REALTOR® Code of Ethics states that “in a transaction, REALTORS® shall not accept compensation from more than one party, even if permitted by law, without disclosure to all parties and the informed consent of the REALTOR®’s client or clients.” However, the legal requirement puts a greater obligation on you than the REALTOR® Code of Ethics because it requires the consent of all parties in a transaction and not just the consent of the REALTOR®’s client.
Very interesting because there are several that are doing just that but has never let the listing side know till we were at closing!
Will the Closing Statement serve as notification and agreement by both parties?
That is after the fact and does not give consent at the proper time.
To me, the perfect time to inform the parties is when a contract offer is written/presented. Is there a Texas Realtor approved form to use to inform and gain consent of the parties?
Is there a document to “document ” this has been discussed and agreed upon?
What is considered a FEE?