From whom do all license holders receive their commission?

The correct answer is that all license holders receive their commission from a broker. In the Texas real estate industry, the structure is such that individual real estate agents, who are licensed holders, work under the supervision of a licensed broker. When a transaction is completed, the broker receives the commission from the transaction, and it is then the broker's responsibility to distribute the appropriate shares to the agents involved based on their agreements.

This relationship is critical as it ensures that all transactions are handled in compliance with state regulations, and brokers have the required knowledge and legal authority to manage funds related to real estate deals. Therefore, it is essential for agents to operate under a broker to receive their commissions, as they do not transact directly with clients or property owners for payment.