Legal FAQs for REALTORS®
— Commission Disputes
Can I collect a fee from the seller and the buyer in the same transaction? (updated March 19, 2014)
Yes, but the Real Estate License Act states that, as a licensee, you may only receive compensation from more than one party if you have the full knowledge and consent of all parties. It's also a good idea for you to get the necessary consents 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 and not just the consent of the REALTOR®'s client.
Legal Disclaimer: The material provided here is for informational purposes only and is not intended and should not be considered as legal advice for your particular matter. You should contact your attorney to obtain advice with respect to any particular issue or problem. Applicability of the legal principles discussed in this material may differ substantially in individual situations.
While the Texas Association of REALTORS® has used reasonable efforts in collecting and preparing materials included here, due to the rapidly changing nature of the real estate marketplace and the law, and our reliance on information provided by outside sources, the Texas Association of REALTORS® makes no representation, warranty, or guarantee of the accuracy or reliability of any information provided here or elsewhere on TexasRealEstate.com. Any legal or other information found here, on TexasRealEstate.com, or at other sites to which we link, should be verified before it is relied upon.