What information related to agency are license holders required to provide under The Real Estate License Act?

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  • What information related to agency are license holders required to provide under The Real Estate License Act?

License holders have two requirements under Section 1101.558, Representation Disclosure, of The Real Estate License Act:

• To disclose which party they represent to other parties or license holders who represent another party in a proposed real estate transaction

• To provide information about brokerage services to prospective buyers, sellers, tenants, and landlords.

The first requirement is a disclosure, which can be provided orally or in writing. The second requirement is a written notice, which must be provided to prospective parties to a proposed transaction for a property through the Information About Brokerage Services form promulgated by the Texas Real Estate Commission.

Source: TAR and TREC

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