Under Texas law, which party can an appointed licensee in an intermediary relationship advise?

This question addresses a fundamental concept in Texas real estate agency law that directly impacts transactional relationships and liability exposure. Understanding the intermediary relationship is crucial because it represents a limited agency status that differs significantly from traditional single or dual agency relationships. The core concept revolves around the appointed licensee's duty limitations in an intermediary arrangement. To arrive at the correct answer, one must recognize that Texas law specifically restricts an appointed licensee's advisory role to only the party who appointed them. This limitation exists to prevent potential conflicts of interest while maintaining some level of representation. The question challenges students because it requires understanding the nuances of agency relationships beyond basic concepts, particularly how Texas regulates intermediary arrangements differently from other states. This connects to broader knowledge about fiduciary duties, disclosure requirements, and how state-specific laws can alter standard agency practices.