CULLEN PLAZA HOUSTON, TX
PRI CING & F INAN CI AL AN ALYSI S
C U LLE N P LAZ A
Cullen Plaza 14519 Cullen Blvd Houston, TX 77047
OFFERING SUMMARY Price Cap Rate Net Operating Income Price PSF Occupancy Year Built
$5,350,000 7.55% $404,035 $151.99 97.2% 2003/2010
Gross Leasable Area
35,200 SF
Lot Size
3.82 Acres
F I N A N C I A L A N A LY S I S
2
PRI CING & F INAN CI AL AN ALYSI S
C U LLE N P LAZ A
PROJECTED INCOME & EXPENSES Base Rent - Occupied Space GROSS POTENTIAL RENT
CURRENT 100%
PSF
EXPENSES
CURRENT
PSF
$465,033
$13.21
Real Estate Taxes
$80,272
$2.28
$465,033
$13.21
Insurance
$16,630
$0.47
CAM
Expense Reimbursements Real Estate Tax Recoveries
$47,183
$1.34
Utilities
$13,592
$0.39
Insurance Recoveries
$9,775
$0.28
Garbage Services
$7,840
$0.22
$30,020
$0.85
Repairs, A/C & Appliance
$14,200
$0.40
$0
$0.00
Yard Maintenance
$5,600
$0.16
Total Expense Reimbursements
$86,977
$2.47
Property Tax Services
$9,841
$0.28
EFFECTIVE GROSS REVENUE
$552,010
$15.68
$51,073
$1.45
$147,975
$4.19
CAM Recoveries Management Recoveries
Total CAM Total Expenses
Operating Expenses Total Real Estate Taxes
$80,272
$2.27
Total Insurance
$16,630
$0.47
Total CAM
$51,073
$1.45
Total Recoverable Expenses
$147,975
$4.19
Net Operating Income
$404,035
$11.48
For Financing Options, Please Contact: Greg Holley | Managing Partner High St Capital (O) 469-998-7200 | (C) 714.514.2990 gholley@highstcapital.com
F I N A N C I A L A N A LY S I S
3
RE NT RO L L Tenant
C U LLE N P LAZ A Suite
SQ FT
% of SQFT
Lease Dates
Minimum Rent
Recoveries
Total
Start
End
Annual
Monthly
PSF
Annual
PSF
Revenue
% of Revenue
Pearland Liquor
A
3,500
9.94%
01/04
12/23
$52,920
$4,410
$15.12
$0
$0.00
$52,920
9.59%
Hatz 2 Heelz
B
2,450
6.96%
04/20
03/22
$25,857
$2,155
$10.55
$10,299
$4.20
$36,156
6.55%
Angels Alterations
C
1,050
2.98%
04/04
04/24
$17,160
$1,430
$16.34
$0
$0.00
$17,160
3.11%
Tobacco & Accessory
D
1,050
2.98%
10/18
02/24
$14,796
$1,233
$14.09
$4,414
$4.20
$19,210
3.48%
Barber Shop
E
1,120
3.18%
07/12
08/20
$17,400
$1,450
$15.54
$0
$0.00
$17,400
3.15%
Flawless Nails
F
1,400
3.98%
11/03
01/23
$20,820
$1,735
$14.87
$5,885
$4.20
$26,705
4.84%
Cullen Dry Cleaner
G
1,050
2.98%
03/04
02/22
$15,996
$1,333
$15.23
$4,414
$4.20
$20,410
3.70%
Preferred Home Technologies
H
1,000
2.84%
07/18
07/20
$15,000
$1,250
$15.00
$0
$0.00
$15,000
2.72%
Accents Hats
I
1,400
3.98%
01/08
01/23
$16,920
$1,410
$12.09
$5,885
$4.20
$22,805
4.13%
1,800
5.11%
05/19
04/21
$26,400
$2,200
$14.67
$0
$0.00
$26,400
4.78%
Fit n Lit Dance Gifted & Talented Kids
B
4,340
12.33%
08/09
08/24
$60,972
$5,081
$14.05
$18,245
$4.20
$79,217
14.35%
Hair Braiding
E
1,400
3.98%
12/19
11/24
$22,920
$1,910
$16.37
$5,885
$4.20
$28,805
5.22%
Honesty Beauty Supply
F
1,800
5.11%
03/13
03/24
$21,540
$1,795
$11.97
$7,567
$4.20
$29,107
5.27%
Studio Express
G
1,000
2.84%
05/15
04/24
$13,200
$1,100
$13.20
$4,204
$4.20
$17,404
3.15%
Hookah Hideout
H
1,400
3.98%
07/19
07/23
$21,012
$1,751
$15.01
$5,885
$4.20
$26,897
4.87%
Lifestyle of Christ Church
K
5,060
14.38%
07/19
05/24
$62,400
$5,200
$12.33
$0
$0.00
$62,400
11.30%
980
2.78%
-
-
$0
$0
$0.00
$0
$0.00
$0
0.00%
3,400
9.66%
12/09
11/22
$39,720
$3,310
$11.68
$14,293
$4.20
$54,013
9.78%
Available Game Room Total Count/GLA
18
35,200
100%
Occupied
17
34,220
97.2%
Available
1
980
2.8%
Total Avg Rent
$13.59 34,220
Totals
$465,033 $38,753
$86,977
$552,010 100.00%
100.0%
1. Hatz 2 Heelz currently pays $2000 flat rate. Begins paying $10.55 PSF plus NNN on 4/1/2021 2. Hookah Hideout currently pays $13.00 PSF. Begins paying $15.00 7/15/2021 3. Lifestyle of Christ Church currently pays $10.20 PSF. Begins paying $12.33 PSF 1/1/2021 4. Seller will guarantee the difference between current NOI and NOI from our analysis date of 7/15/2021
F I N A N C I A L A N A LY S I S
4
E S TI MATED REIMBUR SEMEN T R EVEN U E Tenant
Suite
SQ FT
% of SQFT
C U LLE N P LAZ A Real Estate Taxes
Insurance
CAM
Total Recovery
Monthly
PSF
Monthly
PSF
Monthly
PSF
Monthly
PSF
Pearland Liquor
A
3,500
9.94%
$0
$0.00
$0
$0.00
$0
$0.00
$0
$0.00
Hatz 2 Heelz
B
2,450
6.96%
$466
$2.28
$96
$0.47
$296
$1.45
$858
$4.20
Angels Alterations
C
1,050
2.98%
$0
$0.00
$0
$0.00
$0
$0.00
$0
$0.00
Tobacco & Accessory
D
1,050
2.98%
$200
$2.28
$41
$0.47
$127
$1.45
$368
$4.20
Barber Shop
E
1,120
3.18%
$0
$0.00
$0
$0.00
$0
$0.00
$0
$0.00
Flawless Nails
F
1,400
3.98%
$266
$2.28
$55
$0.47
$169
$1.45
$490
$4.20
Cullen Dry Cleaner
G
1,050
2.98%
$200
$2.28
$41
$0.47
$127
$1.45
$368
$4.20
Preferred Home Technologies
H
1,000
2.84%
$0
$0.00
$0
$0.00
$0
$0.00
$0
$0.00
Accents Hats
I
1,400
3.98%
$266
$2.28
$55
$0.47
$169
$1.45
$490
$4.20
1,800
5.11%
$0
$0.00
$0
$0.00
$0
$0.00
$0
$0.00
Fit n Lit Dance Gifted & Talented Kids
B
4,340
12.33%
$825
$2.28
$171
$0.47
$525
$1.45
$1,520
$4.20
Hair Braiding
E
1,400
3.98%
$266
$2.28
$55
$0.47
$169
$1.45
$490
$4.20
Honesty Beauty Supply
F
1,800
5.11%
$342
$2.28
$71
$0.47
$218
$1.45
$631
$4.20
Studio Express
G
1,000
2.84%
$190
$2.28
$39
$0.47
$121
$1.45
$350
$4.20
Hookah Hideout
H
1,400
3.98%
$266
$2.28
$55
$0.47
$169
$1.45
$490
$4.20
Lifestyle of Christ Church
K
5,060
14.38%
$0
$0.00
$0
$0.00
$0
$0.00
$0
$0.00
980
2.78%
$0
$0.00
$0
$0.00
$0
$0.00
$0
$0.00
3,400
9.66%
$646
$2.28
$134
$0.47
$411
$1.45
$1,191
$4.20
35,200
100%
$3,932
Available Game Room TOTALS
$815
$2,502
$7,248
PROPERTY DESCRIPTION
5
L E A SE PROVIS ION S
Tenant
C U LLE N P LAZ A
Suite
Base Rental Increases
SQ FT
Renewal Options
Date
PSF
Options
Date
PSF
Pearland Liquor
A
3,500
-
-
2 x 10
1/1/2024 1/1/2034
15.88 16.67
Hatz 2 Heelz
B
2,450
-
-
-
-
-
Angels Alterations
C
1,050
-
-
2x5
5/1/2024 5/1/2029
10% increase or FMV 10% increase or FMV
Tobacco & Accessory
D
1,050
-
-
-
-
-
Barber Shop
E
1,120
-
-
-
-
-
Flawless Nails
F
1,400
-
-
-
-
-
Cullen Dry Cleaner
G
1,050
-
-
1x3
2/1/2022
FMV
Preferred Home Technologies
H
1,000
-
-
-
-
-
Accents Hats
I
1,400
-
-
-
-
-
1,800
-
-
-
-
-
Fit n Lit Dance Gifted & Talented Kids
B
4,340
-
-
1x5
9/1/2024
FMV
Hair Braiding
E
1,400
-
-
-
-
-
Honesty Beauty Supply
F
1,800
-
-
-
-
-
Studio Express
G
1,000
-
-
-
-
-
Hookah Hideout
H
1,400
-
-
1x4
7/15/2023
FMV
Lifestyle of Christ Church
K
5,060
1/1/2022
13.04
-
-
-
980
-
-
-
-
-
Game Room
3,400
-
-
-
-
-
TOTAL
35,200
Available
F I N A N C I A L A N A LY S I S
6
I N VE S TMENT HI GHLI GHT S
C U LLE N P LAZ A
• B elow Market Rents: The average rental rate at Cullen Plaza is only $13.59 psf while like-kind product in the immediate trade area is leasing from $20.00 to $30.00 psf. • E xcellent Positioning & Traffic Counts: The property is ideally located right off Beltway 8 on Cullen Blvd. Beltway 8 is a major thoroughfare with more than 125,000 vehicles daily, while Cullen Blvd has an excess of 16,300 vehicles per day. • H istorical Tenancy: Cullen Plaza currently has 8 tenants that have occupied space for over 10 years. This shows the tenants’ commitment to the site and ability to operate profitable businesses. • C onsumer Experience Tenant Base: The Property is virtually immune to the forces of the internet, as the tenants cater to an “in-person” experience. 78.35% of the property is leased to service-oriented tenants. • H igh Growth Trade Area: The population has increased nearly 50% within 1 mile of the center since 2010 and is expected to grow almost an additional 8% in the next five years. • H ighly Leasable Spaces: The average size space is 1,962 square feet. This makes the property extremely leasable as the tenant pool for this size space is the largest in the industry. PROPERTY DESCRIPTION
7
S I T E PL A N
C U LLE N P LAZ A
Game Room
Lifestyle of Christ Church
Hookah Hideout
Studio Express
Honesty Beauty Supply
Hair Braiding
Gifted & Talented Kids
Fit n Lit Dance
Accents Hats
Pref. Home Tech.
Cullen Dry Cleaner
Flawless Nails
Barber Shop
Tobacco & Accessory
Angels Alterations
Hatz 2 Heelz
Pearland Liquor
Available
CULLEN BLVD Tenant
SQ FT
Tenant
SQ FT
Pearland Liquor
3,500
Fit n Lit Dance
1,800
Hatz 2 Heelz
2,450
Gifted & Talented Kids
4,340
Angels Alterations
1,050
Hair Braiding
1,400
Tobacco & Accessory
1,050
Honesty Beauty Supply
1,800
Barber Shop
1,120
Studio Express
1,000
Flawless Nails
1,400
Hookah Hideout
1,400
Cullen Dry Cleaner
1,050
Lifestyle of Christ Church
5,060
Preferred Home Technologies
1,000
Available
Accents Hats
1,400
Game Room
980 3,400
PROPERTY DESCRIPTION
8
A E R I AL MA P
C U LLE N P LAZ A
125,028 VPD
CU LLE N B LV D 16,302 VP
114,338 VPD
D
NOLAN RYAN JR. HIGH SCHOOL MAREK ELEM. SCHOOL
GLENDA DAWSON HIGH SCHOOL
LAURA INGALLS WILDER ELEMENTARY SCHOOL CHALLENGER ELEMENTARY SCHOOL
GLENN YORK ELEM. SCHOOL SHIRLEY DILL BROTHERS ELEM. SCHOOL
SHADOW CREEK HIGH SCHOOL
BROADWAY ST
31,134 VPD
SILVERCREST ELEM. SILVERLAKE ELEM.
ROGERS MIDDLE SCHOOL BERRY MILLER JUNIOR HIGH SCHOOL
PROPERTY DESCRIPTION
9
L E A SE COMPA RABLES
Property
C U LLE N P LAZ A
GLA
Year Built/ Renovated
Occupancy
Major Tenants
Available SF
Rental Rates
NNN
35,320
2003
97.2%
Honesty Beauty Supply, Flawless Nails, Cullen Dry Cleaner, Pearland Liqour
980
$8.00 - $16.00
$4.19
Cullen Plaza
« 14519 Cullen Blvd
Houston, TX 77047
1
Shadow Creek Marketplace 11041 Shadow Creek Pkwy Pearland, TX 77584
28,347
2009
100.0%
Tutoring Club - Pearland, Shadow Creek Liqour Store, Kids & Teens Dental Place
0
$20.00 - $36.00
$10.50
2
The Crossing at 288 10645 Broadway St Pearland, TX 77584
21,855
2002
100.0%
Chipotle, Five guys, Castle Dental, Great Clips, Mattress Firm, Cold Stone Creamery
0
$26.00 - $31.00
$8.33
3
Y Shops at Beltway 8 4001 S Sam Houston Pkwy Houston, TX 77047
18,450
2012
88.6%
Loanstar Title Loans, Cullen Pawn, Happy China Café
2,100
$20.00 - $25.00
$8.00
4
Shadow Creek Center 11901 Shadow Creek Pkwy Pearland, TX 77584
35,000
2009
83.3%
La Vie Nails and Spa, VIP Cleaners, Masters Taekwondo Academy, Mosaic Church
5,836
$21.00-$28.00
$7.50
5
Cullen Crossing Shopping Center 8323 W Broadway St Pearland, TX 77584
34,730
2000
82.1%
Matrtress1 one, Subway, Pearland Postal Plus, Supercuts, Star Nails, Elite Cleaners, Cullen Dental Associates
6,221
$20.00 - $26.00
$7.72
PROPERTY DESCRIPTION
10
L E A SE COMPA RABLES
C U LLE N P LAZ A
Cullen Plaza 1
Shadow Creek Marketplace
2
The Crossing at 288
3
Y Shops at Beltway 8
4
Shadow Creek Center
5
Cullen Crossing SC
3
1 4
2
5
PROPERTY DESCRIPTION
11
LO C AL MA P
C U LLE N P LAZ A
PROPERTY DESCRIPTION
12
REG IONA L MA P
C U LLE N P LAZ A
PROPERTY DESCRIPTION
13
M A R KET S U MMARY
C U LLE N P LAZ A
Houston, TX
OVERVIEW Houston is the most populous city in the state of Texas and the fourth-most populous city in the United States, with an estimated 2018 population of 2,325,502. The seat of Harris County, Houston is the principal city of the Greater Houston metropolitan area, which is the fifth most populous MSA in the United States (2018 population estimate of 6,997,384). With a total area of 627 square miles, Houston is the eighth most expansive city in the United States.
where the Mission Control Center is located.
Houston was founded in 1836 on land near the banks of Buffalo Bayou (now known as Allen’s Landing) and incorporated as a city on June 5, 1837. The city was named after former General Sam Houston, who was president of the Republic of Texas and had commanded and won at the Battle of San Jacinto 25 miles (40 km) east of where the city was established. The burgeoning port and railroad industry, combined with oil discovery in 1901, has induced continual surges in the city’s population. In the mid-twentieth century, Houston became the home of the Texas Medical Center — the world’s largest concentration of healthcare and research institutions — and NASA’s Johnson Space Center,
Nicknamed the Space City, Houston is a global city, with strengths in business, international trade, entertainment, culture, media, fashion, science, sports, technology, education, medicine and research. The city has a population from various ethnic and religious backgrounds and a large and growing international community. Houston is considered to be the most diverse city in Texas and the United States. It is home to many cultural institutions and exhibits, which attract more than 7 million visitors a year to the Museum District. Houston has an active visual and performing arts scene in the Theater District and offers year-round resident companies in all major performing arts.
Houston is recognized worldwide for its energy industry (particularly for oil and natural gas) as well as for biomedical research and aeronautics. It is also leading in health care sectors and building oilfield equipment; only New York City is home to more Fortune 500 headquarters. The Port of Houston ranks first in the United States in international waterborne tonnage handled and second in total cargo tonnage handled.
Q U I C K S TAT S
1 2nd No. 3 4th 21 st
Most-Populous City in the State of Texas Second-Best U.S. Cities for Job Growth (CBS News) Third-Best American City of the Future (Financial Times)
Most-Populous City in the United States
Fortune 500 Companies Call Houston Home (Fortune)
PROPERTY DESCRIPTION
14
D E M OG RA PHIC STAT I ST I CS
C U LLE N P LAZ A
1 Mile
3 Mile
2025 Projection
5,269
60,900
215,722
2020 Estimate
4,916
56,463
199,793
2010 Census
3,345
42,969
155,619
Growth 2020-2025
7.18%
7.86%
7.97%
Growth 2010-2020
46.97%
31.40%
28.39%
1,331
12,514
53,303
White
1,520
21,240
88,874
Black
5 Mile
Population:
2020 Population Hispanic Origin
2020 Population by Race: 3,101
29,531
86,370
Am. Indian & Alaskan
30
406
1,494
Asian
180
4,230
19,210
Hawaiian & Pacific Island
6
39
158
Other
79
1,018
3,688
8
25
58
2025 Projection
1,870
21,225
72,863
2020 Estimate
1,744
19,701
67,500
2010 Census
1,185
15,189
52,904
U.S. Armed Forces:
Households:
Growth 2020 - 2025
7.22%
7.74%
7.95%
Growth 2010 - 2020
47.17%
29.71%
27.59%
Owner Occupied
1,410
15,037
48,563
Renter Occupied
334
4,664
18,937
2020 Avg Household Income
$84,373
$86,016
$90,960
2020 Med Household Income
$73,730
$69,812
$69,160
237
3,361
11,748
$25,000 - $50,000
317
4,076
13,688
$50,000 - $75,000
340
3,113
10,914
2020 Households by Household Inc: <$25,000
$75,000 - $100,000
361
3,113
8,927
$100,000 - $125,000
154
1,885
6,233
$125,000 - $150,000
182
1,548
4,761
$150,000 - $200,000
84
1,500
6,101
$200,000+
69
1,104
5,129
Demographic data © CoStar 2020
PROPERTY DESCRIPTION
15
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
STRIVERE.COM