Out Of State Commission
I am a licensed boker in California representing a client to purchase a strip center in Texas. Can I collect commission from Texas broker? Based on Texas act, I do get since I do not get involve with commission negotiation. Any one has any idea?
SUBCHAPTER N. PROHIBITED PRACTICES AND DISCIPLINARY PROCEEDINGS
§ 1101.651. CERTAIN PRACTICES PROHIBITED.
(a) A licensed broker may not pay a commission to or otherwise compensate a person directly or indirectly for performing an act of a broker unless the person is:
(1) a license holder; or
(2) a real estate broker licensed in another state who
does not conduct in this state any of the negotiations for which the commission or other compensation is paid.
And is 8.5% cap in Houston acceptable?
Thanks all very much.
I am an agent in Michigan purchasing a property in Alaska for a client- I have the same question- can i collect a commission?
Thanks!
Chris