Agency & LawQuestion 28 of 120
In Texas, before a license holder may substantively discuss a real estate transaction, TREC rules generally require providing the consumer with the:
a.Information About Brokerage Services (IABS) form
b.Seller's Disclosure Notice
c.Closing Disclosure
d.Appraisal report
Explanation
The IABS notice explains the types of representation and the duties license holders owe, and it must generally be provided at first substantive communication. The seller's disclosure and closing documents are provided later and serve different purposes. Exact form and timing requirements can change.
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Related questions on this topic
- In an agency relationship, the client who hires and authorizes a broker to act on their behalf is the:
- A broker who represents the seller in a transaction owes the seller fiduciary duties. The customer (buyer) in that same transaction is owed:
- Which of the following is NOT one of the traditional fiduciary duties an agent owes to a principal?
- An 'intermediary' relationship in Texas arises when:
- For a Texas broker to act as an intermediary between a buyer and seller, the broker must obtain:
- When a broker acts as an intermediary and appoints one associated agent to the buyer and another to the seller, this is commonly called:
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