InformationAbout Brokerage Services
We take you and your business seriously. It is important that you understand the “Information About Brokerage Services” Disclosure that is put out by the Texas Real Estate Commission and what it means to you.
Understand with whom you are dealing
Are you dealing with a “Broker” or a “Sales Agent”? What is the difference?
- A “Broker” is the person who is ultimately responsible for all brokerage activities of the respective firm, which includes all real estate activities of its agents.
- A “Sales Agent” must be sponsored by a Broker and is only permitted to act within the boundaries of the law and the rules established by the Broker.
Minimum duties that are required by law
- that we put the interest of the client above all others, including the broker’s own interest;
- that we inform the client of any material information about the property or transaction received by the Broker;
- that we answer the client’s questions and present any and all offers to or counter-offers from the client; and
- that we treat all parties to a real estate transaction honestly and fairly.
Understand for whom we are working
Not only is it important for you to understand who represents whom in the transaction, but also to understand why it is important to be represented. In a real estate transaction involving at least one real estate agent, you WILL fall into one of the three following representation groups. The agent can represent -
- the seller or landlord
- the buyer or tenant, or
- both clients as an intermediary.
An explanation of each of these can be found on the IABS Disclosure. There is also another type of representation known as “subagent”. A person who chooses to use a subagent should do so using caution and understand the risks involved.
Please reference the information about brokerage services disclosure for details on all of this information as well as all-important contact information regarding the broker, supervisor and sales agent.
Please feel free to contact us with any questions and we will be happy to discuss this in further detail with you.
Click here to view the IABS Disclosure