Ebby Halliday - Las Colinas, TX

LAS COLINAS, TX

PRICING & FINANCIAL ANALYSIS

EBBY HALLIDAY - LAS COLINAS, TX

FINANCIAL ANALYSIS

Ebby Halliday 7520 N Macarthur Blvd Las Colinas, TX 75063

Offering Summary Price Cap Rate Net Operating Income

7.00% $271,920

PROPERTY DESCRIPTION

Year Built

$3,885,000

1997

Gross Leasable Area

10,300 SF

Lot Size

1.01 Acres

Lease Summary Lease Term Lease Commencement

10 Years

Year(s)

Commencement

Annual

Increase

10/1/1997

Original Lease

10/01/1997

N/A

Lease Expiration

12/31/2022

Amendment 2

9/1/2006

$226,600

Remaining Term

5 Years

9/1/2011

$247,200

9.09%

1/1/2013

$247,200

0.00%

1/1/2018

$271,920

10.00%

Lease Type Roof & Structure Options Options to Purchase

Amendment 3

Landlord Yes - Every 5 Years

Option #1

1/1/2023

FMV

2 x 5 Year

Option #2

1/1/2028

FMV

None

Net Operating Income

MARKET OVERVIEW

Increases

NN

$271,920

Note: Ebby signed a 10 year lease in 1997 for 4,450 sq ft. In 2003 they amended the lease to occupy an additional 3,600 sq ft and then signed another amendment in 2006 to occupy the whole building (an additional 2,250 sq ft).

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE

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TENANT INFORMATION

EBBY HALLIDAY - LAS COLINAS, TX

FINANCIAL ANALYSIS

Company Summary Company Ownership Number of Locations Years In Business Headquarters Website

PROPERTY DESCRIPTION

For 70 years, Ebby Halliday, REALTORS® has been selling homes in North Texas. Ebby Halliday has been built on three principles: service to the client, service to the industry and service to the community.

Each year they serve the residential real estate needs of more than 20,000 individuals and families moving to, from and within North Texas, always with the commitment of providing exemplary service during what can be one of life’s most-exciting, yet often stressful, events.

Ebby Halliday Realtors Private 24 70 Years Dallas, TX www.ebby.com

MARKET OVERVIEW This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE

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INVESTMENT HIGHLIGHTS

EBBY HALLIDAY - LAS COLINAS, TX

FINANCIAL ANALYSIS

• Long-Term Tenant - Tenant Has Occupied this Location Since 1997 • Tenant Has Extended Lease, Expanded Several Times & Now Occupies the Whole Building • Strong Corporate Guarantee and Getting Stronger – Currently Being Bought By Berkshire Hathaway (Warren Buffett) • Highly Recognizable Brand - #1 Dallas Real Estate Company in Home Sales & Top 15 in the Country

PROPERTY DESCRIPTION

• Tenant Currently has 32 Locations and Over 1,700 Agents & Completed $8 Billion in Sales in 2017 • Net Lease with Minimal Landlord Responsibility • Densely Populated Area - Population within Five Mile Radius Exceeds 195,000 People – a 26% Increase Since 2000 • Affluent Area - Per Capita, Average and Median Incomes within 5 Mile Radius Exceed National Averages Over 76,000 Homes in a 5 Mile Radius

MARKET OVERVIEW

• Located on Major Thoroughfare with Traffic Counts Along N. Macarthur Blvd. Exceeding 50,000 Vehicles per Day • Strategically Located Between 2 Major Highways – 635 (LBJ Fwy) and 191 (George Bush Expwy) • Surrounding National Retailers Include Walmart, Target, Sam’s Club, McDonald’s, Chick-Fil-A, and Many More This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE

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INVESTMENT HIGHLIGHTS

EBBY HALLIDAY - LAS COLINAS, TX

FINANCIAL ANALYSIS

has also been expanding its Dallas-Fort Worth residential sales operations under its own Berkshire Hathaway brand.

Ebby Halliday, which handled more than $8 billion in home sales last year, said Monday that it’s being bought by HomeServices of America Inc., a Berkshire Hathaway affiliate.

Ebby Halliday operates more than two dozen sales offices in North Texas, stretching from Mansfield south of Fort Worth to near the Oklahoma border in Grayson County. Besides home sales, the Farmers Branch-based firm with more than 1,700 sales agents has property management and leasing divisions.

For months, speculation has swirled about a sale of the 73-year-old Ebby Halliday firm to billionaire Warren Buffett and his Omaha-based Berkshire Hathaway Corp. Company officials had previously discounted talk of a sale but have finally confirmed that a deal is in the works.

Founder Ebby Halliday — who started the company in 1945 selling tiny concrete homes built north of Dallas Love Field — died in 2015 at 104.

The company is owned by its employees.

The sale is one of the biggest shifts in years for North Texas’ highly competitive home sales industry.

D-FW is one of the country’s hottest home sales markets, and agents here handled more than 100,000 pre-owned residential sales in 2017. Soaring home prices in the last few years have also resulted in record profits for the residential sales sector.

MARKET OVERVIEW

Ebby Halliday’s execs held a companywide meeting Monday at the Dallas Cowboys’ headquarters, The Star in Frisco, to announced the pending transaction. Terms of the deal were not disclosed, and a representative for HomeServices of America said the company has no comment about the purchase at this time.

In 2015, Berkshire Hathaway’s HomeServices of America Inc. bought local high-end home sales firm Allie Beth Allman & Associates. The company

PROPERTY DESCRIPTION

North Texas’ largest independent residential property company, Ebby Halliday Realtors, has just made its biggest sale ever.

Ebby Halliday officials say the sale will include its Dave Perry-Miller Real Estate and Fort Worth-based Williams Trew Real Estate divisions. Those companies will continue to operate under their individual brands.

Continued on next page..

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE

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INVESTMENT HIGHLIGHTS

EBBY HALLIDAY - LAS COLINAS, TX

FINANCIAL ANALYSIS

In terms of dollar volume of sales last year, Ebby Halliday ranked ahead of Keller Williams Realty, Go Management and Briggs Freeman Sotheby’s International Realty.

And Ebby Halliday ranked 15th nationally last year based on the number of transactions it handled.

Jim Fite, president of Dallas-based Century 21 Judge Fite Realtors, said he wasn’t surprised to hear about the Ebby Halliday sale.

“I’ve been expecting it for a couple of years now,” Fite said. “Berkshire Hathaway was a natural fit for Ebby.

Fite said being bought by a large national company can “take them to a different level.”

PROPERTY DESCRIPTION

Fite should know: His family-owned company aligned with the Century 21 brand more than 20 years ago.

“It was a very positive thing for us to affiliate with an international brand,” he said. “We have grown significantly,” from four offices to 25 today.

“In the first quarter, we were the third-largest firm in the area based on sales through the MLS.” During the last decade, the big nationwide home sales brands have expanded their reach across the country and have bought out many local operators.

“The numbers of large, independent, privately owned brokerage firms has shrunk without any doubt,” said Steve Murray, president of Denver-based RealTrends, which tracks sales each year by the country’s top 500 residential firms.

At the same time, Murray said he’s seeing new startup residential firms with innovative approaches to the business.

MARKET OVERVIEW

“So while traditional independent brokerage firms are shrinking, we are seeing a new breed of younger firms taking their place — and in most cases they operate lower-cost business models,” Murray said. “All part of the maturation of the industry, I think.”

Minneapolis-based HomeServices of America is the country’s second-largest residential brokerage firm. It has almost 40,000 sales agents working out of 843 offices in 30 states.

Last year the company handled $127 billion in property transactions.

Buffett, Berkshire Hathaway’s founder, already has a big footprint in North Texas. His Omaha-based firm owns Fort Worth-based BNSF Railway, and Berkshire Hathaway’s GEICO Insurance, Acme Brick and Nebraska Furniture Mart employ thousands of people in the area.

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE

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SITE PLAN

EBBY HALLIDAY - LAS COLINAS, TX

FINANCIAL ANALYSIS PROPERTY DESCRIPTION MARKET OVERVIEW This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE

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AERIAL MAP

EBBY HALLIDAY - LAS COLINAS, TX

. JOH

FINANCIAL ANALYSIS

LYND ON B

Ranchview High School

NSO

N FW

Y

PROPERTY DESCRIPTION

P

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H

E

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE

MARKET OVERVIEW

N MACARTHUR BLVD

S RE

NT E D

O GE

E RG

S BU

R TU

IK P N

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LOCAL MAP

EBBY HALLIDAY - LAS COLINAS, TX

FINANCIAL ANALYSIS PROPERTY DESCRIPTION MARKET OVERVIEW This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE

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REGIONAL MAP

EBBY HALLIDAY - LAS COLINAS, TX

FINANCIAL ANALYSIS PROPERTY DESCRIPTION MARKET OVERVIEW This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE

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MARKET SUMMARY

EBBY HALLIDAY - LAS COLINAS, TX

FINANCIAL ANALYSIS PROPERTY DESCRIPTION

DALLAS, TX Dallas encompasses half of the Dallas/Fort Worth Metroplex and is the third-largest city in Texas and the ninth-largest city in the United States.

Dallas is home to the third-largest concentration of Fortune 500 companies in the country and is the largest economic center of the Dallas/Fort Worth metropolitan area. The Metroplex has strong submarket occupancy rates, is home to more shopping centers per capita and has one of the largest concentrations of corporate headquarters for publicly traded companies in the United States.

Dallas is the best-ranked city on the Regulatory Climate Index thanks to its efficient local regulations.

Entrepreneurs and small businesses can expect a welcoming business environment across all five areas of local regulation. Dallas scores above average across each meaningful measure of an interaction that a business has with a local government agency through procedure, time, and cost. These rankings reflect the city’s continuing efforts to develop programs and initiatives to strengthen the business environment, provide access to capital, and encourage economic growth at the local level.

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE

MARKET OVERVIEW

The city is the largest economic center of the 12-county Dallas–Fort Worth–Arlington metropolitan area, which had a population of 6,810,913 people as of July 1, 2013. The metropolitan economy is the sixth largest in the United States, with a 2012 real GDP of $420.34 billion. In 2013 the metropolitan area led the nation with the largest year-over-year increase in employment, and advanced to become the fourth-largest employment center in the nation (behind New York City, Los Angeles, and Chicago) with more than three million non-farm jobs. In the

latest rankings released in 2013, Dallas was rated as a “beta plus” world city by the Globalization and World Cities Study Group & Network. Dallas is also ranked 14th in world rankings of GDP by the Organization for Economic Co-operation and Development. The Dallas-Fort Worth Metroplex has one of the largest concentrations of corporate headquarters for publicly traded companies in the United States. The city of Dallas has 12 Fortune 500 companies, and the DFW region as a whole has 20.

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DEMOGRAPHIC SUMMARY

EBBY HALLIDAY - LAS COLINAS, TX

Geography: 5 Miles

FINANCIAL ANALYSIS

Population In the identified area, the 2016 population was 195,043. The rate of change since 2000 was 26.06%. The five-year projection for the population in the area was 210,257 representing a change of 7.80% from 2016 to 2021. The 2016 population was 50.0% male and 50.0% female. The median age in this area was 33.0, compared to U.S. median age of 38.0.

Households In 2016 there were 76,598 households in your selected geography. The number of households has changed by 23.65% since 2000. It is estimated that the number of households in your area will be 82,279 five years from 2016, which represents a change of 7.42% from 2016. The average household size in your area for 2016 was 2.54 persons.

PROPERTY DESCRIPTION

Income In 2016, the median household income for your selected geography was $60,473, compared to the Entire US average which was $54,149. It is estimated that the median household income in your area will be $67,532 in 2021, which represents a change of 11.67% from 2016.

The 2016 per capita income in your area was $34,977, compared to the Entire US average, which was $29,472. The 2016 average household income in your area was $88,806, compared to the Entire US average which was $77,008.

Race and Ethnicity The 2016 racial makeup of your selected area was as follows: 51.3% White, 12.0% Black, 0.6% Native American and 21.0% Asian/Pacific Islander.

Compare these to Entire US averages which were: 71.60% White, 12.70% Black, 0.18% Native American and 5.02% Asian/Pacific Islander.

People of Hispanic origin are counted independently of race. People of Hispanic origin made up 32.9% of the 2016 population in your selected area. Compare this to the Entire US average of 17.9%.

Housing MARKET OVERVIEW

In 2016, there were 28,091 owner occupied housing units in your area and there were 48,507 renter occupied housing units in your area. Median home value in the area was $236,031, compared to a median home value of $198,891 for the U.S.

Employment In 2016, there were 107,217 employees in your selected area; this is also known as the daytime population. In 2016, 68.8% of employees were employed in white-collar occupations in this geography, and 17.1% were employed in blue-collar occupations. In 2016, unemployment in this area was 3.8%.

Demographic data Š 2016 esri This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Š 2017 STRIVE

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DEMOGRAPHIC STATISTICS

EBBY HALLIDAY - LAS COLINAS, TX

1-Mile

3-Miles

5-Miles

2000 Population

6,042

32,118

154,724

$ 0 - $14,999

6.8%

6.7%

8.2%

2010 Population

10,347

52,601

178,122

$ 15,000 - $24,999

5.2%

4.8%

9.5%

2016 Population

11,989

62,346

195,043

$ 25,000 - $34,999

6.9%

6.7%

9.2%

2021 Population

13,305

69,450

210,257

$ 35,000 - $49,999

9.9%

11.0%

13.0%

$ 50,000 - $74,999

20.8%

23.4%

19.5%

$ 75,000 - $99,999

15.6%

12.9%

11.9%

$100,000 - $149,999

17.2%

16.8%

14.3%

1-Mile

3-Miles

5-Miles

$150,000 - $199,999

7.3%

7.5%

6.0%

2000 Households

3,146

17,058

61,946

$200,000+

10.3%

10.3%

8.4%

2010 Households

4,867

24,604

70,641

2016 Median Household Income

$75,413

$71,144

$60,473

2016 Households

5,511

28,367

76,598

2016 Per Capita Income

$45,941

$45,748

$34,977

2021 Households

6,086

31,316

82,279

2016 Average Household Income

$101,273

$100,633

$88,806

2016 Daytime Population

7,045

37,014

107,217

2.18

2.20

2.54

2010 Owner Occupied Housing Units

26.9%

24.8%

35.9%

2010 Renter Occupied Housing Units

67.0%

66.8%

55.4%

6.1%

8.4%

8.7%

2016 Owner Occupied Housing Units

25.6%

22.6%

33.3%

2016 Renter Occupied Housing Units

69.2%

69.0%

57.4%

5.2%

8.4%

9.3%

2021 Owner Occupied Housing Units

25.6%

22.6%

33.1%

2021 Renter Occupied Housing Units

70.6%

69.9%

58.0%

3.9%

7.4%

8.9%

2016 Average Household Size

2010 Vacant

2016 Vacant

Traffic Counts

50,400

MARKET OVERVIEW

2021 Vacant

PROPERTY DESCRIPTION

Households

FINANCIAL ANALYSIS

Population

14,380

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Š 2017 STRIVE

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CONFIDENTIALITY AGREEMENT The information contained in the following offering memorandum is proprietary and strictly confidential.

It is intended to be reviewed only by the party receiving it from STRIVE and it should not be made available to any other person or entity without the written consent of STRIVE. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property at this time, please return this offering memorandum to STRIVE. This offering memorandum has been prepared to provide summary, unverified financial and physical information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. STRIVE has not made any investigation, and makes no warranty or representation with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this offering memorandum has been obtained from sources we believe to be reliable; however, STRIVE has not verified, and will not verify, any of the information contained herein, nor has STRIVE conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT STRIVE AGENT FOR MORE DETAILS.

Net Lease Disclaimer STRIVE hereby advises all prospective purchasers of Net Leased property as follows: The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, STRIVE has not and will not verify any of this information, nor has STRIVE conducted any investigation regarding these matters. STRIVE makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided.

As the Buyer of a net leased property, it is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase. This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity. STRIVE expressly denies any obligation to conduct a due diligence examination of this Property for Buyer.

Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. The value of a net leased property to you depends on factors that should be evaluated by you and your tax, financial and legal advisors. Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any net leased property to determine to your satisfaction with the suitability of the property for your needs.

Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant. While the tenant’s past performance at this or other locations is an important consideration, it is not a guarantee of future success. Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based on a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenant and any guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of tenant history and lease guarantees, Buyer is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the property and the value of any long-term lease, including the likelihood of locating a replacement tenant if the current tenant should default or abandon the property, and the lease terms that Buyer may be able to negotiate with a potential replacement tenant considering the location of the property, and Buyer’s legal ability to make alternate use of the property.

By accepting this Marketing Brochure you agree to release STRIVE and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this net leased property.

Approved by the Texas Real Estate Commission for Voluntary Use Texas law requires all real estate licensees to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords.

B

Information About Brokerage Services

efore working with a real estate broker, you should know that the duties of a broker depend on whom the broker represents. If you are a prospective seller or landlord (owner) or a prospective buyer or tenant (buyer), you should know that the broker who lists the property for sale or lease is the owner’s agent. A broker who acts as a subagent represents the owner in cooperation with the listing broker. A broker who acts as a buyer’s agent represents the buyer. A broker may act as an intermediary between the parties if the parties consent in writing. A broker can assist you in locating a property, preparing a contract or lease, or obtaining financing without representing you. A broker is obligated by law to treat you honestly.

IF THE BROKER REPRESENTS THE OWNER: The broker becomes the owner’s agent by entering into an agreement with the owner, usually through a written - listing agreement, or by agreeing to act as a subagent by accepting an offer of subagency from the listing broker. A subagent may work in a different real estate office. A 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 tell the owner’s agent anything the buyer would not want the owner to know because an owner’s agent must disclose to the owner any material information known to the agent.

IF THE BROKER REPRESENTS THE BUYER: The broker becomes the buyer’s agent by entering into an agreement to represent the buyer, usually through a written buyer 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 tell a buyer’s agent anything the owner would not want the buyer to know because a buyer’s agent must disclose to the buyer any material information known to the agent.

IF THE BROKER ACTS AS AN INTERMEDIARY: A broker may act as an intermediary between the parties if the broker complies with The Texas Real Estate License Act. The broker must obtain

the written consent of each party to the transaction to act as an intermediary. The written consent must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker’s obligations as an intermediary. The broker is required to treat each party honestly and fairly and to comply with The Texas Real Estate License Act. A broker who acts as an intermediary in a transaction: (1) shall treat all parties honestly; (2) may not disclose that the owner will accept a price less than the asking price unless authorized in writing to do so by the owner; (3) may 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; and (4) may 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 The Texas Real Estate License Act or a court order or if the information materially relates to the condition of the property.

With the parties’ consent, a broker acting as an intermediary between the parties may appoint a person who is licensed under The Texas Real Estate License Act and associated with the broker to communicate with and carry out instructions of one party and another person who is licensed under that Act and associated with the broker to communicate with and carry out instructions of the other party.

If you choose to have a broker represent you, you should enter into a written agreement with the broker that clearly establishes the broker’s obligations and your obligations. The agreement should state how and by whom the broker will be paid. You have the right to choose the type of representation, if any, you wish to receive. Your payment of a fee to a broker does not necessarily establish that the broker represents you. If you have any questions regarding the duties and responsibilities of the broker, you should resolve those questions before proceeding.

Real estate licensee asks that you acknowledge receipt of this information about brokerage services for the licensee’s records.

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