Information About Brokerage Services
Please read this information carefully and print out for your records.
Real estate is one of the largest assets a person will own in their lifetime!
What I do is help my clients leverage their money to optimize their real estate assets to enhance their net worth. What I actually sell to the families I represent is more than property, I provide my clients with clarity, focus, balance, and confidence during every step of the transaction.
If this is the type of representation you want from your real estate broker, please contact me.
I'm here to help you.
Texas law requires all real estate licensees to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords.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 (buyer), 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 subagency 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 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 a 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:
(1) shall treat all parties honestly;
(2) may not disclose that the owner will accept a price less than the asking
price unless authorized in writing to do so by the owner;
(3) 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
(4) 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 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.
