Information About Brokerage Services

Texas Real Estate Commission

When entering into a real estate transaction, you have the right to choose the type of real estate services you receive. A broker's fiduciary duties to a client vary depending on the type of representation selected. Please read this information carefully before entering into any representation agreement.

Types of Real Estate Services

Seller's Agent

A seller's agent represents the seller exclusively. As a seller's agent, the broker owes fiduciary duties of loyalty, obedience, disclosure, confidentiality, reasonable care and diligence, and accounting to the seller.

For the buyer: The seller's agent must treat the buyer fairly and honestly. The agent must disclose known material defects about the property. The agent may assist the buyer but does not represent the buyer. Any information the buyer shares with the seller's agent may be disclosed to the seller.

Buyer's Agent

A buyer's agent represents the buyer exclusively. As a buyer's agent, the broker owes the same fiduciary duties of loyalty, obedience, disclosure, confidentiality, reasonable care and diligence, and accounting to the buyer.

For the seller: The buyer's agent must treat the seller fairly and honestly. The agent must disclose known material defects about the buyer, such as the buyer's financial ability to perform the terms of the contract. The agent does not represent the seller.

Intermediary

An intermediary broker works with both parties to a real estate transaction but does not represent either party exclusively. An intermediary broker must treat all parties honestly and fairly. The intermediary broker may not disclose that the seller will accept a price less than the asking price unless authorized in writing by the seller, or that the buyer will pay a price greater than the price submitted in a written offer unless authorized in writing by the buyer.

When acting as an intermediary, a broker may appoint associated license holders to work with the parties, in which case those appointed license holders may provide advice and opinions to their respective parties. The intermediary broker must obtain the written consent of each party and must disclose to each party that appointments are being made.

Broker's Minimum Duties

Regardless of the type of representation selected, a broker must:

  • Treat all parties to a real estate transaction honestly and fairly
  • Answer questions and present offers promptly
  • Inform all parties to the transaction of any material information related to the transaction
  • Account for all money and property received
  • Comply with the Texas Real Estate License Act and TREC rules

Your Choice of Representation

You are not required to enter into a representation agreement. You should carefully consider the type of services you want to receive. If you choose to enter into a representation agreement, you should read it carefully and ask any questions you may have before signing.

You may choose to receive services without entering into a representation agreement, in which case you will be treated as a customer. A broker owes a customer the duty of honesty and fairness, but not the fiduciary duties owed to a client.

Broker Information

Teri Henkelman

Broker

The McKellar Group

Phone: (936) 537-6555

Email: teri.henkelman@gmail.com

HAR CID: 563466

This Information About Brokerage Services notice is provided as required by the Texas Real Estate Commission (TREC). For the most current version of this form, please visit trec.texas.gov.

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