Information About Brokerage Services (IABS)

Texas Real Estate Commission
Information About Brokerage Services

Approved by the Texas Real Estate Commission for Voluntary Use

Texas law requires all real estate licensees to give the following information about brokerage services to prospective buyers, tenants, sellers, and landlords.

TYPES OF REAL ESTATE LICENSE HOLDERS:

A BROKER is responsible for all brokerage activities, including acts performed by sales agents sponsored by the broker.

A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker.

A LICENSEE’S DUTIES TO ALL PARTIES

A licensee may not knowingly give false information or fail to disclose known material facts. A licensee must deal honestly and fairly with all parties. A licensee is obligated to negotiate the best deal for the party the licensee represents.

TYPES OF REPRESENTATION

Seller’s Agent: A broker who lists a property, or a broker’s agent who acts on behalf of a seller, represents the seller. A seller’s agent owes the seller duties of loyalty, obedience, disclosure, confidentiality, reasonable care, and accounting. The seller’s agent does not represent the buyer and must place the interests of the seller first.

Buyer’s Agent: A broker who acts as an agent for a buyer represents the buyer. A buyer’s agent owes the buyer duties of loyalty, obedience, disclosure, confidentiality, reasonable care, and accounting. The buyer’s agent does not represent the seller and must place the interests of the buyer first.

Intermediary: A broker may act as an intermediary between parties if the broker complies with The Texas Real Estate License Act. An intermediary must act fairly and does not favor one party over the other. With the parties’ consent, the intermediary may appoint licensees to communicate with and carry out instructions of each party.

LICENSEE INFORMATION

TREC No. OP-K • Form revised 11/2023
Texas Real Estate Commission • P.O. Box 12188, Austin, TX 78711-2188 • (512) 936-3000 • www.trec.texas.gov