Texas Real Estate License Holder Information
Texas law requires all real estate licensees to provide the following information about brokerage services. Understanding these details helps you know your rights and the responsibilities of your real estate professional.
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Types of Real Estate License Holders
- Broker: Responsible for all brokerage activities, including acts performed by sales agents they sponsor.
- Sales Agent: Must be sponsored by a broker and works on behalf of the broker with clients.
Broker’s Minimum Duties Required by Law
A broker representing a client must:
- Prioritize the client’s interests above their own.
- Inform the client of any material information about the property or transaction.
- Answer the client’s questions and present any offers or counteroffers.
- Treat all parties in the transaction honestly and fairly.
Ways a License Holder Can Represent a Party
- As Agent for Owner (Seller/Landlord): The broker becomes the owner’s agent through a written listing or property management agreement, performing the duties outlined above and keeping the owner informed of any significant information.
- As Agent for Buyer/Tenant: The broker represents the buyer/tenant through a written representation agreement, fulfilling the duties listed above and informing the buyer of any critical information about the property or transaction.
- As Agent for Both – Intermediary: A broker can act as an intermediary between the parties with the written consent of all involved. The broker must:
- Treat all parties impartially and fairly.
- Appoint different license holders to each party to provide specific guidance and carry out instructions, with written consent.
- Not disclose confidential information unless legally required.
- As Subagent: A license holder acts as a subagent when assisting a buyer without an agreement to represent the buyer. The subagent assists but must prioritize the owner’s interests.
Avoiding Disputes
To avoid disputes, ensure all agreements between you and a broker are in writing and clearly outline:
- The broker’s duties and responsibilities to you.
- Your obligations under the representation agreement.
- Who will pay the broker, when payment will be made, and how it will be calculated.
License Holder Contact Information
This notice is for informational purposes and does not obligate you to use the broker’s services. Please acknowledge receipt of this notice and retain a copy for your records.
View Jennifer’s Full IABS and contact information here.