(a) A licensee relationship with a buyer, lessee, seller, or lessor begins when the licensee represents or provides specific assistance to the buyer, lessee, seller, or lessor and continues until the earliest of the following events occurs:
- (1) the licensee completes the representation or specific assistance;
- (2) the relationship term agreed on by the buyer, lessee, seller, or lessor terminates;
- (3) the licensee and the parties to the relationship terminate the relationship by mutual agreement; or
- (4) a party to the relationship terminates the relationship by giving notice to the other party.