What’s in it for you?
Licensed Real Estate Agents: You will receive updates on the deal as it progresses as well as a generous referral fee if it closes!
Unlicensed Person: You will receive a non-cash gift worth $50 or less in exchange for a referral in order to not violate The Real Estate License Act (TRELA) or Texas Real Estate Commission rules. According to TRELA, if a referral is made with the expectation of receiving valuable consideration, the person making the referral must be licensed under the act. Under Section 535.20 of TREC rules, gifts of merchandise having a value of $50 or less do not count as valuable consideration.
A bank gift card that can be converted to cash or credit or any amount of cash or credit toward rent owed are not allowed to be used as gifts to an unlicensed person in exchange for a referral, according to TREC.