When it`s time to adjust the price, you and your listing agent can change this list agreement. Paragraph 3 – list price. Mostly self-explanatory. That`s the price you promote for the house. That`s not to say that`s what a buyer is going to offer, or what the final price will be, but it`s your starting point. Read my guide for more information on how I recommend choosing a good list price (usually as close as possible to the fair value of your home). It is an illusion that the texas status of « non-disclosure » status means that a listing broker does not need to disclose sales data to their MLS. It`s not true. Rather, it means that the state government, including local assessment districts, cannot compel anyone to provide the sale price. One of the first forms you will receive is the brokerage information form, which you can also refer to as the IABS form. Texas law requires all licensees to make this form available to potential buyers, tenants, sellers and homeowners. The form gives you general information about how a real estate transaction works in Texas. For example, the difference between a broker and a commercial agent is explained and the services a client should expect from a broker, as required by Texas law.
Don`t be afraid to ask your MetroTex Realtor questions on this form before signing it. Paragraph 5.B – Won. When did your agent « win » your commission? Not just by closing. If the seller accepts a sales contract of any kind, the listing agent earns his commission (as long as the buyer is actually able to do so, which is why the broker is not paid until the conclusion). If the seller sells it on the site to someone else, a commission is due to the agent. And if the seller violates the agreement, a commission is due to the broker. You can complete the Addendum Named Exclusions to Listing (TAR 1402) and add it to your list agreement to clarify your rights and rights and obligations of the owner if the owner is sold to that party during the specified period. While Texas REALTORS® has made reasonable efforts to collect and prepare the materials contained here, due to the rapidly changing nature of the real estate market and the law, and our dependence on information from external sources, Texas REALTORS® does not provide any guarantee, guarantee or guarantee as to the accuracy or reliability of the information provided here. Any legal or other information found on this page or on other websites to which we link must be verified before you trust it. Paragraph 5.G – Authorization of trust.