It has come to our attention that some listings being inputted into the system are "Limited Service Agreements". We have no problem with these listings as they are needed for comp purposes and are being designated as one. But please be aware that as licensed real estate agents in the state of TEXAS you do have the responsibility to be in compliance with the Real Estate License Act, which in brevity states the following in accordance with TAR attorney's:
The Real Estate License Act contains provisions that impose requirements on all agents regarding client communications and negotiations. At a minimum, an agent must ...
These duties exist regardless of the agreed-upon compensation payable to the broker. An agent cannot avoid these requirements by removing himself from negotiations. The minimum-services provisions also prohibit a seller’s agent from instructing a buyer’s agent to negotiate directly with the represented seller. Likewise, a buyer’s agent is prohibited from instructing a seller’s agent to negotiate directly with the represented buyer.
There are certain circumstances in which an agent may deliver an offer to a represented party without violating the Real Estate License Act, but the agent must have the other broker’s consent to the delivery and send him a copy of the offer. At no time may the agent cross the boundary into negotiations with the represented party.
If the seller’s broker isn’t fulfilling the minimum duties required of him, there’s not much you can do in the short-term. You have a fiduciary duty to look after your client’s best interests; however, you may not interfere with the other broker’s agency relationship or do anything to prevent the transaction from closing. Continue to make every effort to contact the seller’s broker to discuss your concerns, and keep a record of your communications with him.
If you believe the seller’s broker violated any rules or the REALTOR® Code of Ethics, you may take steps to file a complaint with the Texas Real Estate Commission or the Texas Association of REALTORS®.
If you believe that you deserve an additional fee, you may seek compensation through arbitration or other legally available means after the transaction closes.
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