It is wrong to believe that a stockbroker or broker is prohibited from buying from revealing a sale price, since Texas is a non-public state. Non-disclosure relates to the ability of public authorities, such as valuation districts, to impose the publication of selling prices; this does not mean that selling prices are confidential by default. Restrictions on the use of selling prices are derived from local MLS rules. Paragraph 1. It`s too simple. Paragraph 1 is only between who the agreement is – the sellers on one side and the brokers on the other. All owners of the property should be on the listing agreement. Yes, yes. Paragraph 6 of the Farm and Ranch Contract (TAR 1701, TREC 25-10) has a specific language that deals with outstanding mineral interests that would be an exception to coverage in the owner`s ownership directives and in all deeds of the property. The Farm and Ranch Contract also covers ongoing surface leases as well as any upgrades and accessories from Farm in and Ranch that could be involved in this sale. No no. Although agency relationships may exist if you act on behalf of the buyer without a written agreement, the best way to create an agency relationship is to include the rights and obligations of a broker and his client in a signed written agreement.
The same considerations apply to the selection of a listing agreement where the likely use of the unreased property by the purchaser was intended for commercial or agricultural and ranch purposes. TAR has several different list agreements, including separate forms for Farm-Ranch and commercial transactions. The listing agreement below is used for residential transactions. My client`s list is a house on a 15-hectare wing. A buyer`s representative made an offer to his client on the residence contract of a family of four (resale). My client is concerned that the type of accommodation does not meet the remaining mineral interests, but the buyer`s representative says that he often uses this form for situations like this and his client is in good standing with the use of this contract. Does using this form instead of the farm and ranch contract make a difference? 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.
On the brokerage site, the information is NOT the name of the broker (unless it is the broker). We`ll discuss it later, but you don`t make an agreement with a real estate agent, but with a real estate agent (z.B. instead of Brian E Adams, it`s StarPointe Realty).