Disclosures

TEXAS REAL ESTATE COMMISSION

 

Information About Brokerage Services

Texas law requires all real estate license holders to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords.

 

11-2-2015


Equal Housing

Opportunity  


TYPES OF REAL ESTATE LICENSE HOLDERS:

•   A BROKER is responsible for all brokerage activities, including acts performed by sales agents sponsored by the broker.

•   A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker.


A BROKER'S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents):

• Put the  interests  of  the  client above all others,  including the  broker's own interests;

• Inform the client of any material information about the property or transaction received by the  broker;

• Answer the client's questions and present any offer to or counter-offer from the  client; and

• Treat all parties to a real estate transaction honestly and fairly.


A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION:


AS AGENT FOR OWNER  (SELLER/LANDLORD):  The  broker  becomes  the property  owner's  agent  through an  agreement with  the owner, usually in a written listing to  sell  or  property  management  agreement.  An owner's  agent  must  perform  the broker's  mini mum duties above and must inform the owner of any material information about the property or transaction known by the  agent,  including information  disclosed to  the  agent or subagent  by the  buyer or  buyer's  agent.


AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant's agent by agreeing to represent the buyer, usually through a written representation agreement. A buyer's agent must perform the broker's minimum duties above and must inform the buyer of any material information about the property or transaction known by the agent, including information disclosed to the agent by the seller or seller's agent.


AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parties the broker must first obtain the written agreement of each party to the transaction. The written agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker's obligations as an intermediary. A broker who acts as an intermediary:

• Must treat all parties to the transaction impartially  and fairly;

• May, with the parties' written consent, appoint a different license holder associated with the broker to each party (owner and buyer) to communicate with, provide opinions and advice to, and carry out the instructions of each party to the transaction.

• Must  not, unless specifically authorized  in writing to  do so  by the  party, disclose:

that the owner will accept  a  price less than  the  written  asking price;

that the buyer/tenant  will pay a price greater than the price submitted in a written offer;  and

any confidential information or any other information  that  a  party  specifically  instructs  the broker  in  writing not to disclose,  unless required  to do so by  law.


AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transaction without an agreement to represent the buyer. A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first.


TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH:

• The broker's duties and responsibilities to you, and your obligations under the representation agreement.

• Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated.


LICENSE HOLDER CONTACT INFORMATION: This notice is being provided for information purposes.  It does not create an obligation for you to use the broker's services.  Please acknowledge receipt of this notice below and retain a copy for your records.

Keller Williams North Country                                  0578968            klrw768@kw.com   972-382-8882 

Licensed Broker/Broker Firm Name         License No.         Email                         Phone


 Barbara Trumbull                                                   0432445              klrw768@kw.com     972-382-8882 Designated Broker of Firm                          License No.          Email                         Phone


 Georgina Hennen                                        0375485          georginahennen@kw.com    972-382-8882

Licensed SUPVR. of Sales Agent/Assc.                                      Email                         Phone


Joey Jordan                                                    0207460            jiordan@texoma.net             903-821-4930

Sales Agent/Associate's Name      License No.                      Email                        Phone



 

Regulated by the Texas Real Estate Commission


Information available at www.trec.texas.gov

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