Information And Disclosure Regarding Real Estate Agency Relationships printable pdf download

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John Reider Properties, LC

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INFORMATION and DISCLOSURE REGARDING

REAL ESTATE AGENCY RELATIONSHIPS

WHO WILL THE BROKER REPRESENT IN THIS TRANSACTION?

Before working with a real estate broker you should know that the duties of the broker to you depend upon whom the broker represents.

If you are a prospective seller or landlord (Owner) or a prospective buyer or Tenant (Buyer), you should know that the broker who lists the

property for sale or lease is the Owner’s Agent. A broker may not represent both an Owner and a Buyer in the same transaction unless

both Owner and Buyer consent in writing to the representation. A broker can assist in locating a property, preparing a contract or lease,

or obtaining financing without representing you. Brokers are obligated by law to treat you honestly and fairly.

WHAT WILL BE THE BROKER’S DUTIES TO YOU?

IF THE BROKER REPRESENTS THE OWNER: The broker typically becomes the Owner’S agent by entering into a listing agreement

with the Owner or by agreeing to act as a subagent through a listing broker. A subagent may work in a different real estate office. A

listing agent or subagent must place the interests of the Owner first. The Buyer should not tell a listing agent or subagent anything the

Buyer would not want the Owner to know, because a listing agent or subagent must disclose to the Owner any material information he or

she knows.

IF THE BROKER REPRESENTS THE BUYER: The broker typically becomes the Buyer’s agent by entering into an agreement to

represent the Buyer. A Buyers agent can assist the Owner but does not represent the Owner. A Buyer’s agent 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 he or she knows.

IF THE BROKER REPRESENTS BOTH: A broker may not act as an agent for more than one party to a transaction unless the broker

complies with specific requirements established by law. In addition to providing the parties with this form, the broker must enter into a

written agreement with each party which authorizes the broker to represent more than one party and sets forth who will pay the broker’s

fee. The broker is required to treat both parties honestly and impartially so as not to favor one party or work to the disadvantage of any

party. Unless written permission from the appropriate party is obtained, the broker is prohibited from disclosing: (a) that the Owner will

accept a price less than the asking price; (b) that the Buyer will pay the price greater than the price submitted in a written offer; (c) any

confidential information; (d) any other information a party specifically instructs the broker in writing not to disclose, unless disclosure is

required by law. The broker’s duties are more limited if he or she represents both parties. There are potential conflicts of interest when a

broker represents more than one party. The broker is obligated to inform each party of all facts the broker knows which would affect the

party’s decision to permit the broker to represent both the Owner and the Buyer. For example, the broker would inform the Owner if the

broker expects to represent the Buyer in purchasing additional properties in the near future.

If you choose to have a broker represent you, you should enter a written contract that clearly establishes the obligations of both you and

the broker and that sets out how and by whom your broker will be paid. You have the right to choose the type of representation you

wish to receive. 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 going further. Regardless of the

agency relationships which may be established, you have the responsibility to protect your own interests. Once you have read and

discussed this information with the broker, please acknowledge your receipt of this copy of this form. Your cooperation will help the

broker to comply with the rules of the Texas Real Estate Commission. The broker is required to provide this form to you and disclose

below who the broker represents. This form is to be used in residential, commercial and other types of real estate transactions.

DISCLOSURE OF AGENCY, IF ANY: The broker named below represents the property Owner.

JOHN REIDER PROPERTIES II, LTD.

ACKNOWLEDGMENT OF RECEIPT OF AGENCY DISCLOSURE FORM: I acknowledge I have received a copy of this form. I

understand that agreements I may sign may affect or change agency relationships and that the broker may only represent both the owner

and the buyer with their full knowledge and consent.

_________________________________Date__________

Tenant

Information And Disclosure Regarding Real Estate Agency Relationships

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