The commission may adopt rules in the public’s best interest that require license holders to use contract forms prepared by the Texas Real Estate Broker-Lawyer Committee and adopted by the commission.
The commission may not prohibit a license holder from using for the sale, exchange, option, or lease of an interest in real property a contract form that is:
prepared by the property owner; or
prepared by an attorney and required by the property owner.
A listing contract form adopted by the commission that relates to the contractual obligations between a seller of real estate and a license holder acting as an agent for the seller must include:
a provision informing the parties to the contract that real estate commissions are negotiable; and
a provision explaining the availability of Texas coastal natural hazards information important to coastal residents, if that information is appropriate.Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.