Information About Brokerage Services

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

 

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 minimum 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.

 

Keith W Smith Broker - US Realty Team     0232535          ksmith@usrealtyteam.com    469.877.3766

Licensed Broker/Brokerage Firm                License No.      Email                                          Phone

 

Keith W Smith Broker                             0232535          ksmith@usrealtyteam.com    469.877.3766

Designated Broker or Firm                          License No.      Email                                          Phone

 

Keith W Smith Broker                                   0232535          ksmith@usrealtyteam.com    469.877.3766

Licensed Supervisor of Sales Agent            License No.      Email                                          Phone

 

Keith W Smith Broker                                  0232535          ksmith@usrealtyteam.com    469.877.3766

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

 

 

Regulated by the Texas Real Estate  Commission   Information available at www.trec.texas.gov