TREC Information About Brokerage Services

The official, current version of this notice is published by the Texas Real Estate Commission (TREC). You can view and download the official form (IABS 1-0) from TREC's website. A summary is below.

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 Broker's Minimum Duties Required by Law

A client is the person or party that the broker represents. A broker must:

• Put the interests of the client above all others, including the broker's own interests
• Inform the client of any material information about the property or transaction received by the broker
• Answer the client's questions and present any offer to or counter-offer from the client
• Treat all parties to a real estate transaction honestly and fairly

A License Holder Can Represent a Party in a Real Estate Transaction

As agent for owner (seller or landlord)

The broker becomes the property owner's agent through an agreement with the owner, usually in a written listing to sell or property management agreement. An owner's agent must perform the broker's minimum duties above and must inform the owner of any material information about the property or transaction known by the agent, including information disclosed to the agent or subagent by the buyer or buyer's agent.

As agent for buyer or tenant

The broker becomes the buyer or tenant's agent by agreeing to represent the buyer, usually through a written representation agreement. A buyer's agent must perform the broker's minimum duties above and must inform the buyer of any material information about the property or transaction known by the agent, including information disclosed to the agent by the seller or seller's agent.

As agent for both: intermediary

To act as an intermediary between the parties, the broker must first obtain the written agreement of each party. The written agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker's obligations as an intermediary. An intermediary must treat all parties honestly and fairly and may not disclose certain confidential information without permission.

As subagent

A license holder acts as a subagent when aiding a buyer in a transaction without an agreement to represent the buyer. A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first.

To Avoid Disputes, All Agreements Between You and a Broker Should Be in Writing

Agreements should clearly establish the broker's duties and responsibilities to you, and your obligations under the representation agreement, and who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated.

How We Are Compensated

For apartment locating, Dallas High Rise Apartments is typically compensated by the apartment community through a referral fee when a renter we refer signs a lease. Renters do not pay us. Please ask us if you have any questions about our role or compensation.

License Holder Contact Information

Licensed broker / broker firm	Spirit Real Estate Group
License no.	562021
Email	hello@dallashighriseapartments.com
Address	1701 N Collins Blvd Ste 231, Richardson, TX 75080
Designated broker, supervising agent and sales agent details	Provided on request and on the official IABS form

Regulated by the Texas Real Estate Commission. Information available at www.trec.texas.gov. See also our TREC Consumer Protection Notice.