Written Consent (Intermediary)
The consent of both parties that makes intermediary practice lawful, which must state the source of any expected compensation.
Under TRELA Sec. 1101.559(a), a broker may act as an intermediary only if the broker obtains written consent from each party and the written consent states the source of any expected compensation to the broker.
Sec. 1101.559(b) provides that a listing agreement or a buyer-representation agreement authorizing intermediary is sufficient to establish written consent, if the agreement sets out in conspicuous bold or underlined print the conduct prohibited by Sec. 1101.651(d).
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Texas Agency & Intermediary (9% of the exam)
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- Intermediary
The Texas relationship in which one broker represents both the buyer and the seller in the same transaction with the written consent of both parties.
- Appointed License Holder
A license holder a broker may appoint, with written consent, to communicate with and advise one party while the broker acts as intermediary.
- Confidential Information
A party's negotiating position, which an intermediary may not disclose to the other side without written authorization.
This definition is Texas real estate exam-prep education, not legal, tax, or professional advice. Verify current rules against the official source before relying on them for a real transaction. Back to the full glossary.