Texas Real Estate Commission
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.
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 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 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 with honesty and fairness.
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 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.
Request for Information on Buying a Home
|
