Consumer Protection Notice

Information About Brokerage Services

Before working with a real estate agent, you should know that the duties a real estate agent owes you depend on the nature of the relationship between you and the agent.

Texas law requires all real estate license holders to provide the following information to prospective buyers, sellers, tenants, and landlords.

Types of Real Estate Representation

Seller's Agent

A seller's agent represents the owner of the property for sale. If you are selling a property, a seller's agent owes you undivided loyalty, confidentiality, and the duty to negotiate on your behalf to obtain the best price and terms possible. The seller's agent must disclose all material facts about the property to prospective buyers and must present all offers to the seller in a timely manner.

Buyer's Agent

A buyer's agent represents the person who is purchasing the property. If you are buying a property, a buyer's agent owes you the same fiduciary duties: loyalty, confidentiality, full disclosure of material information, and the duty to negotiate on your behalf for the best possible price and terms.

Intermediary

An intermediary is a broker who represents both the buyer and the seller in the same transaction. When acting as an intermediary, the broker must treat both parties honestly and fairly. The intermediary may not disclose confidential information from one party to the other without written permission. Written consent is required from both parties before the intermediary relationship begins.

Fiduciary Duties of a Real Estate Agent

When a real estate agent represents you as a client, they owe you the following fiduciary duties:

• Loyalty — The agent must act solely in your best interest and put your interests above their own.
• Confidentiality — The agent must keep your personal and financial information confidential, even after the transaction closes.
• Full Disclosure — The agent must disclose all material facts that could affect your decision-making, including known defects in the property and information about the other party.
• Obedience — The agent must follow your lawful instructions regarding the transaction.
• Reasonable Care and Diligence — The agent must exercise reasonable care in performing their duties and act with competence and professionalism.
• Accounting — The agent must account for all funds and property entrusted to them.

Filing a Complaint with TREC

If you believe a real estate license holder has violated the law, you may file a complaint with the Texas Real Estate Commission (TREC). TREC investigates complaints against real estate license holders and may take disciplinary action when violations are found.

To file a complaint, you must submit your complaint in writing to TREC. Complaint forms and instructions are available on the TREC website. TREC does not have jurisdiction over disputes involving contractual or monetary issues between parties to a real estate transaction; those matters must be resolved through the courts or alternative dispute resolution.

TREC Contact Information

Texas Real Estate Commission
P.O. Box 12188
Austin, TX 78711-2188
Phone: (512) 936-3000
Website: www.trec.texas.gov

Contact Your Agent

If you have questions about agency relationships or the real estate transaction process, please contact:

Teri Henkelman
Broker, The McKellar Group
Phone: (936) 537-6555
Email: teri.henkelman@gmail.com