TREC Information About Broker Services.pdf

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:
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)
AS AGENT FOR BUYER/TENANT
AS AGENT FOR BOTH - 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
Must not, unless specifically authorized in writing to do so by the party, disclose certain information.
AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transaction without an agreement to represent the buyer.
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.