Did you know that Texas real estate license law requires me to provide you, the consumer, with an Agency Disclosure Notice? In addition, I am to supply a meaningful explanation of agency relationships and the specifics of each one. This is to be done at the first opportunity once we have made substantive contact. The notice informs you, the consumer, about broker relationships and how they effect real estate transactions. It is important for you to know that you have the right to be represented in any real estate transaction.
The types of broker relationship that exists in a transaction is up to you. Simply put, it means you have a choice to make. When you begin to work with a broker or agent, they will ask you in what capacity you want them to work for you; as a customer or a client. What’s the difference, you ask?
Texas real estate license law defines customers as buyers or sellers who choose NOT to establish an agency relationship. The law requires licensees to perform the following basic duties when dealing with any real estate buyer or seller as a customer:
- Present all offers in a timely manner
- Account for money or other property received on your behalf
- Provide an explanation of the scope of services to be provided
- Be fair and honest and provide accurate information
- Disclose “adverse material facts” about the property or the transaction which are within my knowledge
Because customer service does not require a written agreement, neither you nor the broker is committed to one another in any way. Unless or until you enter into a written agreement for agency representation, you are considered a “customer” of the broker, and the broker will not act as your agent. As a customer, you should not expect the Company or its licensees to promote your best interest, or to keep your bargaining information confidential.
Now, it is also worth noting that many agents, like myself, do not work with customers. This is because they do not want to restrict their services in that way.
We prefer only to work with clients Clients are those who have made the wise choice to sign into an agreement with broker. Clients receive more services than customers. In fact, by law, you are afforded the following client-level services at a very minimum:
- Obedience
- Loyalty
- Disclosure
- Confidentiality
- Accounting
- Reasonable care and skill
- Advice, counsel, and assistance in negotiations
This means that as my client, you will recieve these top level services which allow me to fend for your best intrest. negotiate terms on contracts, and provide my expertise and opinion to help you make the right decision.
The choice is yours, you have the right to be represented or not. I hope you choose wisely and when you do choose to seek representation, I will be heppy to help you.
