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Information About Brokerage Services

The broker becomes the owner's agent by entering into an agreement with the owner, usually through a written listing agreement, or by agreeing to act as a subagent by accepting an offer of subagency from the listing broker. The owner's agent or subagent 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.

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 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.

A broker may act as an intermediary between the parties if the broker complies with The Texas Real Estate License Act. The broker must obtain the written consent of each party to the transaction to act as an intermediary. The written consent 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 in a transaction:

• Shall treat all parties honestly;
• May not disclose that the owner will accept a price less than the asking price unless authorized in writing to do so by the owner;
• May not disclose that the buyer will pay a price greater than the price submitted in a written offer unless authorized in writing to do so by the buyer;
• May not disclose any confidential information or any information that a party specifically instructs the broker in writing not to disclose unless authorized in writing to disclose the information or required to do so by The Texas Real Estate License Act or a court order or if the information materially relates to the condition of the property.

A broker must also disclose, in a timely manner, any known material defect that is a physical condition of the property. A license holder may not represent both principals as a dual agent under the revisions to TRELA. The broker's obligations include:

• 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.

Consumer Protection Notice

If you have a question or complaint regarding a real estate licensee, you should contact TREC at trec.texas.gov or call (512) 936-3000.

TREC administers two recovery funds which may be used to satisfy a civil court judgment against a broker or sales agent who engages in fraud or misrepresentation in a real estate transaction. To find out more information about these recovery funds, contact TREC or an attorney.

Buyers and sellers of real property are advised to seek professional inspections of the property in connection with a real estate transaction. Home inspectors licensed by TREC perform inspections of residential properties. To find a home inspector or to file a complaint, contact TREC.

Surveys for real property are conducted by licensed surveyors. For more information about licensed surveyors, contact the Texas Board of Professional Land Surveying at txls.texas.gov or call (512) 239-5263.

Title insurance is regulated by the Texas Department of Insurance. For information on title insurance or to file a complaint, contact the Texas Department of Insurance at tdi.texas.gov or call (800) 252-3439.

For questions about property taxes or to dispute a property value, contact your county appraisal district. The chief appraiser and the appraisal review board are required by law to be fair and impartial. If you believe that your case was not treated fairly or impartially, you may file a complaint with the Texas Comptroller of Public Accounts Property Tax Assistance Division at comptroller.texas.gov/taxes/property-tax or call (800) 252-9121.