The purchase of real estate is a complex transaction. It is the most expensive transaction most people make in their lifetime. In most instances the Seller has an agent representing them. Don’t you deserve complete and fair representation also? You have the choice. As a Buyer's Agent, it is my duty to find the best possible home for you, based on the features and/or search criteria that we discuss. This includes homes that are For Sale By Owner (FSBOs) and New Home Builders. Despite what you might think, both of these groups go to a great deal of effort to solicit our business.

FSBOs promote their homes with flyers, etc. to my office, and Builders are constantly offering incentives to realtors who bring them Buyers. They both know where most Buyers can be located, and that if Buyers are working with a realtor, they are prequalified, maybe preapproved for a loan, and have an idea of the market value of a property. Both Builders and I prefer that Buyers view their homes with the realtor present.

If a Buyer is out driving around communities and stops at a new home model, tell the Builder's Representative that you are working with a realtor and that you will return with that realtor if interested. This will protect both of us. The Broker who lists the property for sale or lease is the Owner’s agent. The State of Texas recognizes the following types of agency when assisting a Buyer locate a property or prepare a contract or lease:

Subagency The Broker/Agent represents the Owner in cooperation with the Listing Broker. The Listing Broker or Subagent can assist the Buyer, but does not represent the Buyer, and must place the interests of the Owner first. The Buyer should not disclose anything to the Owner’s Agent that he does not want the Owner to know because any material information must be disclosed to the Owner. Buyer Agency. The Broker/Agent becomes a Buyer’s Agent by entering into an agreement to represent the Buyer, a Buyer’s Representation Agreement. A Buyer’s Agent can assist the Owner, but does not represent the Owner and must place the interests of the Buyer first. The Owner should not disclose anything to the Buyer’s Agent that he does not want the Buyer to know because any material information must be disclosed to the Buyer. Intermediary Agency. This policy was established by the Texas Legislature in 1995 and designed for use when a Buyer and Seller are represented by the same Broker and the Buyer wishes to purchase a property listed for Sale by the Broker. The Broker may act as an intermediary between the parties provided written consent of each party to the transaction is obtained. As an Intermediary, the Broker:

• Will treat all parties honestly
• Will not disclose that the owner will accept a price less than the asking price, unless authorized in writing to do so by the Seller
• Will not disclose that the Buyer will pay a price greater than the price submitted in a written offer, unless authorized in writing to do so by the Buyer.
• Will not disclose any confidential information or any information that a party specifically instructs the Broker in writing not to disclose, unless authorized in writing to disclose the information or required to do so by law.

The Broker, with written consent of the parties, may act as an Intermediary in two different circumstances: With Two Appointed Licensees Working Separately with the Buyer and the Seller. When the Buyer and Seller wish to have a Broker act as an Intermediary in the sale and each have separate agents of the Broker working with them, then the Broker may appoint each agent to act as an "Appointed Licensee". Under these circumstances, the Appointed Licensee will carry out the instructions of the parties to whom they are appointed and will render professional advice and opinions to the parties during the transaction. With One Broker Intermediary Representative Working With Buyer and Seller.

When a Buyer and Seller in the transaction wish to work with the same sales associate of the Broker, then the sales associate will act as an "Intermediary Representative" of the Broker. Such a transaction presents a greater potential or conflict of interest between the Broker and the parties which precludes the Broker and his Intermediary Representative from promoting the interest of one party over the other. In this situation, the Intermediary Representative will not render professional advice or opinions to either party so as to remain fair and impartial to both parties, however, may provide information and assistance. Your choices should now be obvious, either Buyer’s Agency with Exclusive Agency or Intermediary Agency With Two Appointed Licensees Working Separately with Buyer and Seller.