1010 E ARAPAHO RD RICHARDSON, TX (DALLAS MSA)
THIS PROPERTY MUST BE MUST BE PURCHASED WITH 7207 GESSNER RD - HOUSTON, TX. CONTACT AGENT FOR DETAILS.
PO RTF O L IO INFOR MAT I ON
1 0 1 0 E AR APAH O R D - R IC H AR D SO N, T X
Portfolio Roll Up
1010 E Arapaho Rd must be must be purchased with 7207 Gessner Rd - Houston, TX. Contact agent for details. Tenant
7207 Gessner Rd Houston, TX 77040
1010 E Arapaho Rd Richardson, TX 75081 TOTALS/AVERAGES
GLA
NOI
Asking Cap Rate
Asking Price
PSF
92,729
$1,052,241
7.95%
$13,229,000
$142.66
73,152
$848,889
8.70%
$9,760,000
$133.42
165,881
$1,901,130
8.27%
$22,989,000
$138.04
1010 E Arapaho Rd
7207 Gessner Rd
Richardson, TX 75081
Houston, TX 77040
CLICK HERE TO VIEW 1010 E ARAPAHO RD OM
CLICK HERE TO VIEW 7207 GESSNER RD OM
PROPERTY DESCRIPTION
2
PRI CING & F INAN CI AL AN ALYSI S
1 0 1 0 E AR APAH O R D - R IC H AR D SO N, T X
1010 E Arapaho Rd 1010 E Arapaho Rd Richardson, TX 75081
OFFERING SUMMARY Price Cap Rate Net Operating Income Price PSF Occupancy Year Built Gross Leasable Area Lot Size
$9,760,000 8.70% $848,889 $133.42 95.6% 1985 73,152 SF 4.00 Acres
F I N A N C I A L A N A LY S I S
3
PRI CING & F INAN CI AL AN ALYSI S
PROJECTED INCOME & EXPENSES Base Rent - Occupied Space
100%
GROSS POTENTIAL RENT
1 0 1 0 E AR APAH O R D - R IC H AR D SO N, T X
EXPENSES
CURRENT
PSF
$1,115,583
$15.25
Real Estate Taxes
$1,115,583
$15.25
Insurance
CURRENT
PSF
$150,781
$2.06
$18,613
$0.25
CAM
Expense Reimbursements Real Estate Tax Recoveries Insurance Recoveries CAM Recoveries Total Expense Reimbursements EFFECTIVE GROSS REVENUE
$74,860
$1.02
CAM - Disposal
$5,523
$0.08
$22,611
$0.31
CAM- Interior Paint
$2,274
$0.03
$131,280
$1.79
CAM - Janitorial
$51,632
$0.71
$228,751
$3.13
CAM - Day Porter
$16,124
$0.22
$1,344,330
$18.38
CAM - Landscaping
$6,417
$0.09
CAM - Pest Control
$1,357
$0.02
R&M - Elevator
$6,604
$0.09
R&M - HVAC
$11,641
$0.16
Operating Expenses Total Insurance
$18,613
$0.25
Total Real Estate Taxes
$150,781
$2.06
R&M - Interior Building Maintenance
$15,521
$0.21
Total CAM
$285,639
$3.90
R&M - Lamps & Ballasts
$7,761
$0.11
$40,408
$0.55
R&M - Plumbing
$3,445
$0.05
Total Recoverable Expenses
$495,441
$6.77
R&M - Roofing
$1,378
$0.02
Net Operating Income
$848,889
$11.60
R&M - Security
$2,405
$0.03
R&M - Salaries
$19,096
$0.26
$1,378
$0.02
$124,171
$1.70
$8,912
$0.12
$285,639
$3.90
$40,408
$0.55
$495,441
$6.77
Management Fee
3.0%
R&M - Sprinkler Repairs Utilities - Electricity Utilities - Water & Sewer Total CAM Management Fee Total Expenses
3.00%
F I N A N C I A L A N A LY S I S
4
LOAN INF O RMAT I ON
1 0 1 0 E AR APAH O R D - R IC H AR D SO N, T X
EXISTING ASSUMABLE LOAN 1010 E Arapaho Price
$9,760,000
LabCorp Price
$13,229,000
Total Purchase Price Loan Amount (as of May 1, 2020) Equity to the Note Loan to Purchase Price Interest Rate Amortization Schedule Loan Constant Call Call Date
$22,989,000 $13,764,445 $9,224,555 59.87% 4.63% 30 Years 6.17% 10 Years 1/1/28
Residual Percentage
80.42%
NOI 1010 E Arapaho
$848,889
NOI LabCorp
$1,052,241
Total NOI
$1,901,130
Annual Debt Service
$849,716
Clear Cash after DS
$1,051,414
Debt Service Coverage Ratio
2.24
Cap Rate
8.27%
Cash on Cash Return
11.40%
Assumption Fee
1.00%
PROPERTY DESCRIPTION
5
RE NT RO L L
Tenant
Aprima Medical Software, Inc
1 0 1 0 E AR APAH O R D - R IC H AR D SO N, T X
Suite
SQ FT
100, 200, 55,000 300
% of SQFT
Lease Dates
Minimum Rent
Recoveries
Total
Start
End
Annual
Monthly
PSF
Annual
PSF
Revenue
% of Revenue
75.19%
09/16
03/24
$877,250
$73,104
$15.95
$195,109
$3.55
$1,072,359
79.77%
Xchangelabs, LLC
102
3,370
4.61%
08/16
09/23
$57,290
$4,774
$17.00
$5,720
$1.70
$63,010
4.69%
Available
105
3,252
4.45%
-
-
$0
$0
$0.00
$0
$0.00
$0
0.00%
D&E Structures Consulting Engineers, LLP
106
4,073
5.57%
01/11
09/21
$67,205
$5,600
$16.50
$15,263
$3.75
$82,468
6.13%
Edward Jones
107
1,324
1.81%
06/20
07/27
$21,846
$1,821
$16.50
$2,247
$1.70
$24,093
1.79%
Synaptic Solar
108
6,133
8.38%
04/20
05/23
$91,992
$7,666
$15.00
$10,410
$1.70
$102,402
7.62%
Total Count/GLA
6
73,152
100%
Totals
$1,115,583
$92,965
Occupied
5
69,900
95.6%
Available
1
3,252
4.4%
$15.95
68,576
100.0%
Total Avg Rent
$228,751
$1,344,333 100.00%
F I N A N C I A L A N A LY S I S
6
E S TI MATED REIMBUR SEMEN T R EVEN U E
Tenant
Aprima Medical Software, Inc
Suite
SQ FT
100, 200, 55,000 300
% of SQFT
1 0 1 0 E AR APAH O R D - R IC H AR D SO N, T X
Real Estate Taxes
Insurance
CAM
Management Fee
Total Recovery
Monthly
PSF
Monthly
PSF
Monthly
PSF
Monthly
PSF
Monthly
PSF
75.19%
$5,729
$1.25
$1,833
$0.40
$8,697
$1.90
$0
$0.00
$16,259
$3.55
Xchangelabs, LLC
102
3,370
4.61%
$0
$0.00
$0
$0.00
$477
$1.70
$0
$0.00
$477
$1.70
Available
105
3,252
4.45%
$0
$0.00
$0
$0.00
$0
$0.00
$0
$0.00
$0
$0.00
D&E Structures Consulting Engineers, LLP
106
4,073
5.57%
$509
$1.50
$51
$0.15
$712
$2.10
$0
$0.00
$1,272
$3.75
Edward Jones
107
1,324
1.81%
$0
$0.00
$0
$0.00
$187
$1.70
$0
$0.00
$187
$1.70
Synaptic Solar
108
6,133
8.38%
$0
$0.00
$0
$0.00
$868
$1.70
$0
$0.00
$868
$1.70
73,152
100%
$6,238
Totals
$1,884
$10,940
$0
$19,063
PROPERTY DESCRIPTION
7
L E A SE PROVIS ION S
Tenant
1 0 1 0 E AR APAH O R D - R IC H AR D SO N, T X
Suite
SQ FT
Base Rental Increases
Renewal Options
Date
PSF
Options
Date
PSF
CAM Cap
CAM Cap Description
Termination Rights
100, 200, 300
55,000
4/1/2021 4/1/2022 4/1/2023
16.30 16.65 17.00
1x7
4/1/2024
MKT
Yes
Base Year 2016
-
Xchangelabs, LLC
102
3,370
10/1/2021 10/1/2022
17.25 17.75
-
-
-
Yes
Base Year 2020 with a 6% cumulative cap
-
Available
105
3,252
-
-
-
-
-
-
-
-
D&E Structures Consulting Engineers, LLP
106
4,073
-
-
-
-
-
Yes
Base Year 2015 6% non cumulative cap on controllalable CAM
-
17.00 17.50 18.00 18.50 19.00 20.00
1x5
8/1/2027
MKT
Yes
Base Year 2020
Tenant has one time right to terminate after 62 month of lease
15.50 16.00
-
-
-
Yes
Base Year 2020
-
Aprima Medical Software, Inc
Edward Jones
107
1,324
8/1/2021 8/1/2022 8/1/2023 8/1/2024 8/1/2025 8/1/2026
Synaptic Solar
108
6,133
6/1/2021 6/1/2022
Totals
73,152
F I N A N C I A L A N A LY S I S
8
TE NA NT INF ORMAT I ON
1 0 1 0 E AR APAH O R D - R IC H AR D SO N, T X
DBA
Edward Jones
Entity on Lease
Edward D. Jones & Co., L.P.
Corporate/Franchise
Corporate
Locations
14,000+
Public/Private
Private
Line of Business
Financial services firm headquartered in St. Louis, Missouri. It serves investment clients in the U.S. and Canada, through its branch network of more than 14,000 locations. The company currently has relationships with nearly 8 million clients and $1 trillion in assets under management worldwide.
DBA
Synaptic Solar
Entity on Lease
Synaptic Solar, LLC
Corporate/Franchise
Corporate
Locations
1
Public/Private
Private
Line of Business
Synaptic Solar is a licensed and insured solar Engineering, Procurement, and Construction contractor, utilizing industry experts who understand the challenges of today’s solar PV Installs. We all work together to bring to your customer a professional and pleasant experience. We are one of the few EPC companies that truly in-house every thing from the engineering to the construction, to bring you the lowest industry costs.
DBA
Aprima Medical Software, Inc.
Entity on Lease
Aprima Medical Software, Inc.
Corporate/Franchise
Corporate
Locations
1
Public/Private
Private
Line of Business
Aprima Medical Software, Inc. provides innovative electronic health record, practice management and revenue cycle management solutions for medical practices. Aprima uses a fast, flexible design that adapts automatically to a physician’s workflow and sets the benchmark for ease-of-use, speed and flexibility, and is one of the few companies with an 18-year track record of success.
PROPERTY DESCRIPTION
9
I N VE S TMENT HI GHLI GHT S
1 0 1 0 E AR APAH O R D - R IC H AR D SO N, T X
• Stabilized Asset with Value-Add Opportunity: The Property is Currently 93.7% Occupied Providing Investors with a Stable Cash Flow while Offering Potential Upside Through the Lease-Up of the Remaining 3,252 Square Feet of Available Space and an Additional 3,370 SF Available for Renewal or a New Tenant in August. • Built-In Upside: 83.57% of the Current Line of Tenants have Contractual Rental Escalations Structured in their Leases, Virtually Guaranteeing Future Income Growth over the Next Several Years. By the end of 2022, the Property is Scheduled to Produce $63,880 of Additional Income. • Exceptional Positioning within Telecom Corridor: The Property is Located in the Telecom Corridor, a Region of the Dallas-Fort Worth Metroplex that is Densely Occupied by Software, Telecommunications and other High-Tech Firms. • High Traffic Counts: The Property Sits in a HighTraffic Area of the Dallas area. East Arapaho is a Major Thoroughfare with Traffic Counts over 32,000 Vehicles per Day and Direct Access to U.S. Route 75, the Main Highway through the Telecom Corridor. E Arapaho is also Positioned Evenly between Interstate 635 and the President George Bush Turnpike, two major highways in Dallas. • Proven Tenant Resiliency: The tenants at the Property have shown durability and resiliency by paying April and May rent in full during the COVID-19 pandemic. Additionally, XchangeLabs renewed during the pandemic further showing the resiliency of the tenant base. PROPERTY DESCRIPTION
10
PRO PERT Y IMAGERY
1 0 1 0 E AR APAH O R D - R IC H AR D SO N, T X
PROPERTY DESCRIPTION
11
S I T E PL A N
1 0 1 0 E AR APAH O R D - R IC H AR D SO N, T X
E ARAPAHO RD
INTERNATIONAL PKWY PROPERTY DESCRIPTION
12
FLOOR
2
FLOOR
FLOOR
FLOOR
FLOOR
3
FLOOR
S I T E PL A N
1 0 1 0 E AR APAH O R D - R IC H AR D SO N, T X
1
3
Suite 300 Aprima Medical Software, Inc 24,384 SF MAR 2024
2
Suite 200 Aprima Medical Software, Inc 24,384 SF MAR 2024
1
Suite 100 Aprima Medical Software, Inc 6,232 SF MAR 2024
Vacant
2020
Suite 102 Xchangelabs, LLC 3,370 SF AUG 2020 2021
2022
2023
Suite 106 D&E Structures Consulting Engineers, LLP 4,073 SF SEP 2021
Suite 105 Available 3,252 SF
2024
2025
2026
Suite 107 Edward Jones 1,324 SF JUL 2027
Suite 108 Synaptic Solar 6,133 SF MAY 2023
2027
PROPERTY DESCRIPTION
13
A E R I AL MA P
PD
1 0 1 0 E AR APAH O R D - R IC H AR D SO N, T X
27
7,0 0
0V
YALE ELEMENTARY SCHOOL
E ARAPAHO RD
32,191 VPD
APOLLO JUNIOR HIGH
PROPERTY DESCRIPTION
14
L E A SE COMPA RABLES
Property ï‚« 1010 E Arapaho Rd
1 0 1 0 E AR APAH O R D - R IC H AR D SO N, T X
GLA
Yr Built/ Renovated Occupancy
Major Tenants
Available SF
Rental Rates
73,924
1985
95.6%
Aprima, Edward Jones
3,252
$15.50-$16.50 + E
1
1130 E Arapaho Rd Richardson, TX 75081
118,515
1985
58.4%
Globeranger, Ribbon Communications, United Benefits
49,325
$15.50 + E
2
1101 E Arapaho Rd Richardson, TX 75081
98,180
1979
66.9%
Intrusion, Netwatch Solutions
32,530
$15.00-$18.00 + E
3
1301 E Arapaho Rd Richardson, TX 75081
56,884
1987
49.8%
Amber Pharmacy, DFG Energy
28,556
$12.50 + UTIL
4
801 E Campbell Rd Richardson, TX 75081
151,345
1986
75.8%
Beltway Executive Suites, Piburn & Co, Premier IT Solutions
36,584
$19.00-$20.00 + E
5
1100 E Campbell Rd Richardson, TX 75081
65,234
1984
84.2%
American Heart Assc, OSHA, Chicago Title
10,302
$11.00-$13.00 + E
PROPERTY DESCRIPTION
15
L E A SE COMPA RABLES
1 0 1 0 E AR APAH O R D - R IC H AR D SO N, T X
1010 E Arapaho Rd 1
1130 E Arapaho Rd
2
1101 E Arapaho Rd
3
1301 E Arapaho Rd
4
801 E Campbell Rd
5
1100 E Campbell Rd
4 5
2
3
1
PROPERTY DESCRIPTION
16
LO C AL MA P
1 0 1 0 E AR APAH O R D - R IC H AR D SO N, T X
PROPERTY DESCRIPTION
17
REG IONA L MA P
1 0 1 0 E AR APAH O R D - R IC H AR D SO N, T X
PROPERTY DESCRIPTION
18
M A R KET S U MMARY
1 0 1 0 E AR APAH O R D - R IC H AR D SO N, T X
Dallas - Fort Worth, TX
OVERVIEW 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. The city is the largest economic center of the 12-county Dallas–Fort Worth–Arlington metropolitan area, which had a population of 7,573,136 according to the U.S. Census Bureau’s 2019 population estimates. From 2010 to 2019, the DFW Metroplex had the largest numerical population growth of any MSA in the United States. The metropolitan economy is the fourth-largest and third-fastest growing in the United States, with a 2017 real GDP of $535.5 billion. In 2018, Dallas had both the highest job growth rate and the most jobs added in the nation, and is 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 2018, 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 Cooperation and Development. The DFW Metroplex has one of the largest concentrations of corporate headquarters for publicly traded companies in the United States. As of 2020, the city of Dallas has 10 Fortune 500 companies, and the DFW region as a whole has 25. 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.
Q U I C K S TAT S
No.
1
Fastest Growing MSA in the U.S. from 2010 to 2019 (U.S. Census Bureau)
4 5th 25
th
Largest Metropolitan Area in the United States Texas, Fastest Growing Economy in the U.S. (Forbes) Fortune 500 Companies Call DFW Home (American City Business Journals)
10K
Home to over 10,000 corporate headquarters, making it the largest concentration in the U.S.
PROPERTY DESCRIPTION
19
D E M OG RA PHIC STAT I ST I CS
1 0 1 0 E AR APAH O R D - R IC H AR D SO N, T X
1 Mile
3 Mile
5 Mile
9,943 9,222 7,076 7.82% 30.33% 2,800
132,827 125,289 114,293 6.02% 9.62% 25,566
400,980 373,651 327,229 7.31% 14.19% 110,007
6,293 1,117 123 1,454 11 224 3
82,455 15,908 918 22,770 102 3,136 14
246,198 60,718 3,493 54,116 437 8,688 47
3,714 3,436 2,597 8.09% 32.31% 1,912 1,525 $78,089 $64,005
51,066 48,224 44,480 5.89% 8.42% 29,773 18,452 $88,850 $69,554
151,430 141,335 125,327 7.14% 12.77% 68,760 72,575 $81,499 $58,129
432 739 838 440 529 153 222 83
6,746 9,914 9,313 7,204 5,476 2,791 3,595 3,184
27,682 33,913 24,822 16,834 12,378 7,412 8,992 9,302
Population: 2024 Projection 2019 Estimate 2010 Census Growth 2019-2024 Growth 2010-2019 2019 Population Hispanic Origin
2019 Population by Race: White Black Am. Indian & Alaskan Asian Hawaiian & Pacific Island Other U.S. Armed Forces:
Households: 2024 Projection 2019 Estimate 2010 Census Growth 2019 - 2024 Growth 2010 - 2019 Owner Occupied Renter Occupied 2019 Avg Household Income 2019 Med Household Income
2019 Households by Household Inc: <$25,000 $25,000 - $50,000 $50,000 - $75,000 $75,000 - $100,000 $100,000 - $125,000 $125,000 - $150,000 $150,000 - $200,000 $200,000+ Demographic data © CoStar 2020
P R O P E R T Y D E S C R I P T I O N 20
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 tenantâ&#x20AC;&#x2122;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.
Commercial Disclaimer STRIVE hereby advises all prospective purchasers of commercial 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 commercial 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 commercial 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 commercial 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 tenants 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 tenants 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 leases, including the likelihood of locating replacement tenants if any of the current tenants should default or abandon the property, and the lease terms that Buyer may be able to negotiate with any potential replacement tenants 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 commercial property.
Information About Brokerage Services
Texas law requires all real estate license holders to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords. TYPES OF REAL ESTATE LICENSE HOLDERS: • A BROKER is responsible for all brokerage activities, including acts performed by sales agents sponsored by the broker. • A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker. A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents): • Put the interests of the client above all others, including the broker’s own interests; • Inform the client of any material information about the property or transaction received by the broker; • Answer the client’s questions and present any offer to or counter-offer from the client; and • Treat all parties to a real estate transaction honestly and fairly. A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION: AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner’s agent through an agreement with the owner, usually in a written listing to sell or property management agreement. An owner’s agent must perform the broker’s minimum duties above and must inform the owner of any material information about the property or transaction known by the agent, including information disclosed to the agent or subagent by the buyer or buyer’s agent. AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant’s agent by agreeing to represent the buyer, usually through a written representation agreement. A buyer’s agent must perform the broker’s minimum duties above and must inform the buyer of any material information about the property or transaction known by the agent, including information disclosed to the agent by th e seller or seller’s agent. AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parties the broker must first obtain the written agreement of each party to the transaction. The written agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker’s obligations as an intermediary. A broker who acts as an intermediary: • Must treat all parties to the transaction impartially and fairly; • May, with the parties’ written consent, appoint a different license holder associated with the broker to each party (owner and • buyer) to communicate with, provide opinions and advice to, and carry out the instructions of each party to the transaction. • Must not, unless specifically authorized in writing to do so by the party, disclose: ӽ that the owner will accept a price less than the written asking price; ӽ that the buyer/tenant will pay a price greater than the price submitted in a written offer; and ӽ any confidential information or any other information that a party specifically instructs the broker in writing not to disclose, unless required to do so by law. AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transaction without an agreement to represent the buyer. A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first. TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH: • The broker’s duties and responsibilities to you, and your obligations under the representation agreement. • Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated. LICENSE HOLDER CONTACT INFORMATION: This notice is being provided for information purposes. It does not create an obligation for you to use the broker’s services. Please acknowledge receipt of this notice below and retain a copy for your records.
Regulated by the Texas Real Estate Commission
Information available at www.trec.texas.gov IABS 1-0
exclusively listed 469.844.8880
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