What Does a Real Estate BrokerDo For Me? In the State of Texas
Broker:Â A Broker represents the buyer or seller when purchasing real estate. A Real Estate Agent or Realtor must hold their license with a Broker.
When representing a Buyerâ€”The Broker becomes the buyerâ€™s agent, with a written buyer representation agreement and will assist you with locating the property that will match your needs as well as lender requirements. This means finding a home in the location, size and price range that meets the buyerâ€™s goals. Once the buyer is satisfied with the property the Agent (Broker/Realtor) will assist with negotiations and completing necessary documents for the real estate transaction. The buyerâ€™s agent represents the buyerâ€™s interests.
When representing a SellerÂ â€“ The Broker becomes the Sellerâ€™s agent, with a written listing agreement and will assist you with gathering information by conducting a CMA (Competitive Market Analysis). They will offer advice on how to make your home ready for sale. Complete necessary documents pertaining to representation. Market your home by placing real estate signs, listing your home on MLS (Multiple Listing Service), websites and various print advertisements. The sellerâ€™s agent represents the sellerâ€™s interests.
Intermediary â€“Â A Brokermay act as an intermediary between buyer and seller. With written consent to act as an intermediary, and may not disclose confidential information.
Brokers/Realtor/Agents are not home inspectors, appraisers, nor attorneys. A Broker should present you with a form entitled â€œInformation about Brokerage Servicesâ€ to help understand the duties and obligations of a licensed Broker in the State of Texas.
TAR: Texas Realtor AssociationÂ - Texas Real Estate Brokers and Salespersons are licensed and regulated by the Texas Real Estate Commission (TREC). If you have questions, please contact TREC at P.O. Box 12188, Austin, Texas78711-2118 or call 512-465-3960
Hope this helps with questions regarding the Texas Real Estate Broker and what their duties and responsibilities are.
About the Author:
I am a Texas Realtor located in the Austin, Cedar Park, Leander and Round Rock area
Brigitte Thompson, Realtor, Tim Kress Team -- RE/MAX 1www.brigitte.myaustinhouse.com