Brokerage Services
The Texas Real Estate License Act requires two disclosures, depending
upon whether or not a licensee represents a party to the transaction.
The licensee is required to furnish a party in a real estate
transaction at the time of the first face-to-face meeting with the
party, the following statement:
Before working with a real estate broker, you should know that the
duties of a broker depend on whom the broker represents. If you are a
prospective seller or landlord (owner) or a prospective buyer or tenant,
you should know that the broker who lists the property for sale or
lease is the owner's agent. A broker who acts as a subagent represents
the owner in cooperation with the listing broker.
A broker who acts as a buyer's agent represents the buyer.
A broker may act as an intermediary between the parties if
the parties consent in writing. A broker can assist you in locating a
property, preparing a contract or lease, or obtaining financing without
representing you. A broker is obligated by law to treat you honestly.
IF THE BROKER REPRESENTS THE OWNER:
The broker becomes the owner's agent by entering into an agreement with
the owner, usually through a written listing agreement, or by agreeing
to act as a subagent by accepting an offer of sub-agency from the
listing broker. A subagent may work in a different real estate office.
A listing broker or subagent can assist the buyer but does not
represent the buyer and must place the interests of the owner (seller)
first. The buyer should not tell the owner's agent anything the buyer
would not want the owner to know because an owner's agent must
disclose to the owner any material information known to the agent.
IF THE BROKER REPRESENTS THE BUYER:
The broker becomes the buyer's agent by entering into an
agreement to represent the buyer, usually through a written
Buyer Representation
Agreement.
A buyer's agent can assist the owner but does not represent
the owner and must place the interests of the buyer first. The owner
should not tell a buyer's agent anything the owner would not want the
buyer to know because the buyer's agent must disclose to the buyer any
material information known to the agent.
IF THE BROKER ACTS AS AN INTERMEDIARY:
A broker may act as an intermediary between the parties if the broker
complies with The Texas Real Estate License Act. The broker must obtain
the written consent of each party to the transaction to act as an
intermediary. The written consent must state who will pay the broker
and, in conspicuous bold or underlined print set forth the broker's
obligations as an intermediary. The broker is required to treat each
party honestly and fairly and to comply with The Texas Real Estate
License Act.
A broker who acts as an intermediary in a transaction:
- shall treat all parties honestly;
- may not disclose that the owner (seller) will accept a price
less than the asking price unless authorized in writing to do so by the
owner;
- may not disclose that the buyer will pay a price greater than
the price submitted in a written offer unless authorized in writing to
do so by the buyer; and
- may not disclose any confidential information or any
information that a party specifically instructs the broker in writing
not to disclose unless authorized in writing to disclose the
information or required to do so by the Texas Real Estate License Act
or a court order or if the information materially relates to the
condition of the property.
With the parties' consent, a broker acting as an intermediary between
the parties may appoint a person who is licensed under The Texas Real
Estate License Act and associated with the broker to communicate with
and carry out instructions of one party and another person who is
licensed under that Act and associated with the broker to communicate
with and carry out instructions of the other party.
If you choose to have a broker represent you, you
should enter into a written
Buyer Representation Agreement
with the broker that
clearly establishes the broker's obligations and your obligations. The
agreement should state how and by whom the broker will be paid. You
have the right to choose the type of representation, if any, you wish
to receive. Your payment of a fee to a broker does not necessarily
establish that the broker represents you. If you have any questions
regarding the duties and responsibilities of the broker, you should
resolve those questions before proceeding.
Please be sure to read the
Buyer Representation Agreement.
In the majority of
cases there is no commission charge to the buyer by our company. The
listing broker, or seller, pays our commission unless otherwise agreed
to by you, the buyer.
After reading the
Buyer Representation Agreement,
call, or email us. We will prepare the Agreement and mail a hard copy
to you for approval and signature.
Please do not hesitate to contact us if you have any questions.
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