Sec. 1101.563. WRITTEN AGREEMENT REQUIRED. (a) In this section, "residential real property" means: (1) a single-family house; (2) a duplex, triplex, or quadraplex; or (3) a unit in a multiunit residential structure in which title to an individual unit is transferred to the owner of the unit under a condominium or cooperative system. (b) A license holder who performs any act of real estate brokerage for a prospective buyer of residential real property must enter into a written agreement with the prospective buyer before: (1) showing any residential real property to the prospective buyer; or (2) if no residential real property will be shown, presenting an offer to purchase residential real property on behalf of the prospective buyer. (c) The written agreement required by Subsection (b) must: (1) state: (A) the services to be provided by the license holder; (B) the termination date of the agreement; (C) whether the agreement is exclusive or non-exclusive; (D) as applicable, that the license holder: (i) represents the prospective buyer as the buyer's agent; or (ii) does not represent the prospective buyer as the buyer's agent if the only act of real estate brokerage being performed is showing real property under Section 1101.562 ; and (E) the amount or rate of compensation the broker will receive and how this amount will be determined; and (2) disclose in conspicuous language that broker compensation is not set by law and is fully negotiable. (d) A license holder who enters into a written agreement with a prospective buyer for the sole purpose of showing real property under Section 1101.562 shall enter into a separate agreement with the prospective buyer if additional real estate brokerage acts are to be provided after showing the real property. (e) A written agreement with a prospective buyer for showing real property under Section 1101.562 may not: (1) be an exclusive agreement with the license holder; or (2) state a termination date more than fourteen days from the date the agreement is entered into.
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