PRESTON FRANKFORD CROSSING DALLAS, TX
PRICING & FINANCIAL ANALYSIS
PRESTON FRANKFORD CROSSING
FINANCIAL ANALYSIS
Preston Frankford Crossing 18101 Preston Road Dallas, TX 75252
Offering Summary Price Cap Rate Net Operating Income Price PSF Occupancy
6.46% $733,364 $321 100% 1995
Gross Leasable Area
35,424 SF
Lot Size
4.11 Acres
PROPERTY DESCRIPTION
Year Built
$11,365,000
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
2
PRICING & FINANCIAL ANALYSIS
PRESTON FRANKFORD CROSSING
PSF
Base Rent
$734,578
$20.74
Real Estate Tax Reimb.
$158,426
$4.47
Insurance Reimb.
$13,619
$0.38
CAM Reimb.
$81,474
$2.30
Mgmt./Admin. Fee Reimb.
$40,146
$1.13
$293,665
$8.28
$4,584
$0.13
$1,032,827
$29.15
$158,426
$4.47
$13,619
$0.38
$86,058
$2.43
$41,360
$1.17
$299,463
$8.45
Total Exp. Reimbursements Tenant Water Reimbursements EFFECTIVE GROSS REVENUE Expenses Real Estate Taxes Insurance CAM Mgmt. Fee (% of GPI) Total Expenses
NET OPERATING INCOME
4.00%
Expenses
Current
PSF
$158,426
$4.47
$13,619
$0.38
Maintenance & Repair
$19,658
$0.55
Grounds Maintenance
$14,000
$0.40
Cleaning
$9,000
$0.25
Security
$1,590
$0.04
Electricity
$6,302
$0.18
Water & Sanitation
$15,492
$0.44
Tenant Water
$4,584
$0.13
Trash Collection
$15,432
$0.44
$86,058
$2.43
$41,360
$1.17
$299,463
$8.45
Real Estate Taxes Insurance CAM
Total CAM Management Fee (% of GPI)
TOTAL EXPENSES
4.00%
PROPERTY DESCRIPTION
Current
FINANCIAL ANALYSIS
Income & Expenses
$733,364
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
3
RENT ROLL
PRESTON FRANKFORD CROSSING
Tenant
Sq Ft
% of Sq Ft
Start
End
Annual Rent
PSF
Escalation Date
Escalation Amount
Lease Type
101
Shiraz Grill
4,476
12.64%
03/14
01/20
$85,044
$19.00
11/17
$19.00
NNN
102
Staggering Irishman
4,985
14.07%
06/16
08/21
$102,691
$20.60
09/17
$20.60
NNN
09/18
$21.22
NNN
09/19
$21.85
NNN
09/20
$22.51
NNN
104
Top Ten Nails
2,000
5.65%
07/95
10/18
$54,000
$27.00
-
-
NNN
105
Orange Theory
3,154
8.90%
04/14
08/19
$60,241
$19.10
09/17
$19.10
NNN
09/18
$19.48
NNN
Pending Tenant
3,493
9.86%
-
-
$76,846
$22.00
-
-
NNN
201
Sinai Urgent Care
3,285
9.27%
08/14
03/25
$72,270
$22.00
02/20
$24.64
NNN
202
India Chaat Cafe
2,600
7.34%
05/10
10/20
$54,600
$21.00
11/16
$21.00
NNN
11/18
$22.00
NNN
203
Up In Smoke Inc.
1,969
5.56%
01/14
11/20
$51,194
$26.00
-
-
NNN
204A
The Kolache
1,489
4.20%
08/15
10/25
$27,547
$18.50
11/17
$18.50
NNN
11/19
$19.50
NNN
11/21
$20.50
NNN
11/23
$21.50
NNN
Pinch The Tails
4,272
12.06%
05/16
10/21
$85,440
$20.00
05/19
$21.00
NNN
204D
Wingstop
1,781
5.03%
10/15
10/20
$35,905
$20.16
10/17
$20.16
NNN
10/18
$20.76
NNN
10/19
$21.38
NNN
-
-
NNN
209
Edible Arrangements
1,920
5.42%
Occupied
35,424
(100%)
0
(0.0%)
35,424
(100.0%)
Vacant Total
04/15
05/20
$28,800
$15.00
MARKET OVERVIEW
204C
PROPERTY DESCRIPTION
106
FINANCIAL ANALYSIS
Suite
$734,578
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
4
TENANT INFORMATION
PRESTON FRANKFORD CROSSING
FINANCIAL ANALYSIS
Tenant Overview Tenant Ownership Years In Business
Edible Arrangement stores create an array of fresh fruit arrangements and gourmet chocolate dipped fruit to order, for pick-up or delivery, seven days a week.
Number of Locations Headquarters Website
Edible Arrangements Private 18 Years 1,100+ Wallingford, CT www.ediblearrangements.com
PROPERTY DESCRIPTION
Tenant Overview Tenant
An engergizing group personal training concept broken into intervals of cardiovascular and strength training. Studios are equipped with a variety of equipment including treadmills, rowing machines, TRX suspension training and free weights.
Orange Theory Fitness
Ownership
Private
Years In Business
7 Years
Number of Locations Headquarters Website
300+ (U.S./International) Boca Raton, FL www.orangetheoryfitness.com
Tenant Ownership The Wingstop menu features bone-in and boneless chicken wings with 11 bold, distinctive flavors which are are always cooked-to-order, handsauced and tossed and served with a variety of freshly-prepared sides including Wingstop’s hand-cut, seasoned fries.
Years In Business Number of Locations Headquarters Website
MARKET OVERVIEW
Tenant Overview Wingstop Public 23 Years 1,000+ Dallas, TX www.wingstop.com
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
5
INVESTMENT HIGHLIGHTS
PRESTON FRANKFORD CROSSING
FINANCIAL ANALYSIS
• Built-In Upside - 83.4% of the current in-line tenants have contractual rental escalations structured in their leases virtually guaranteeing future income growth over the next several years • ‘Consumer Experience’ Tenant Base - The Property is virtually immune to the forces of the internet because every tenant in Preston Frankford Crossing caters to an ‘in-person’ shopping or dining experience
PROPERTY DESCRIPTION
• Desirable Trade Area - This stretch of Preston Road benefits from area retailers driving consumer traffic, such as Tom Thumb, Kohl’s, and Lowe’s Home Improvement • Dense Infill Location - the population exceeds 418,043 people within a 5 mile radius of the Property • The Population within 3 miles of the Property has increased over 36% since 2010
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
• Headquarter Relocations - The far North Dallas trade area has become a very desirable destination for relocations and headquarters of companies including Toyota, FedEx, Hilton Worldwide, and State Farm, to name a few. The daytime population within 3 miles of the Property increases by over 100,000 due to these relocated headquarters
6
SITE PLAN
PRESTON FRANKFORD CROSSING
106
PRE STO N
104
105
102 Pa tio
Shiraz Grill
101
4,476
Staggering Irishman
102
4,985
Top Ten Nails
104
2,000
Orange Theory
105
3,154
Pending Tenant
106
3,493
Sinai Urgent Care
201
3,285
India Chaat Cafe
202
2,600
Up In Smoke
203
1,969
The Kolache
204A
1,489
Pinch The Tails
204C
4,272
Wingstop
204D
1,781
209
1,920
Edible Arrangements
101
Size
PROPERTY DESCRIPTION
RD
NOT A PART
Suite
FINANCIAL ANALYSIS
Tenant
201 202 203 204D
209
204C
MARKET OVERVIEW
204A
NOT A PART
N
FRANKFORD RD
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
7
AERIAL MAP
PRESTON FRANKFORD CROSSING
FINANCIAL ANALYSIS
32,250 Vehicles per Day
Pres to
PROPERTY DESCRIPTION
n Ro
ad
Frankford Road
52,900 Vehicles per Day
MARKET OVERVIEW
Preston Trail Golf Club
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
8
LOCAL MAP
PRESTON FRANKFORD CROSSING
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
9
REGIONAL MAP
PRESTON FRANKFORD CROSSING
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
10
LEASE COMPARABLES
Preston Frankford Crossing 18101 Preston Rd. Dallas, TX
GLA
Yr Built/ Renovated Occupancy
Major Tenants
Available SF
Rental Rates
NNN
35,424
1995
100.0%
Orange Theory Fitness, Wingstop, Edible Arangements, Sinai Urgent Care
0
$15.00 - $27.00
$8.29
8,015
2001
100.0%
C Rolls Sushi, Team Building with Taste
0
$18.75 - $23.00
$8.31
2
The Arbors 18204-18320 Preston Rd.
200,716
1999
100.0%
Kohl's, Tom Thumb, Starbucks, PeiWei, Comet Cleaners, Chase Bank
0
$20.00 - $37.00
$7.50
3
Preston Lloyd 19009 Preston Rd.
54,324
1994
69.4%
H&R Block, Sushi Yokohoma, Forever Nails, First Signs, JP Donuts
16,600
$14.00 - $25.00
$6.25
4
Frankford Crossing 4625-4727 Frankford Rd.
139,981
1994
93.6%
Albertson's (shadow), GNC, Starbucks, Papa John's Pizza, Bank of America, Sports Clips, GameStop
8,940
$14.00 - $27.00
$7.45
5
Preston Trail Plaza 17370 Preston Rd.
95,425
1982
93.8%
La Hacienda Ranch, Banana Leaf, Subway, Kumon, Iron Pro Gym
5,964
$16.00 - $22.00
$6.15
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
Preston Frankford (Adjacent) 18101 Preston Rd.
PROPERTY DESCRIPTION
1
FINANCIAL ANALYSIS
Property
PRESTON FRANKFORD CROSSING
11
LEASE COMPARABLES
PRESTON FRANKFORD CROSSING
FINANCIAL ANALYSIS
Preston Frankford 1
Preston Frankford (adjacent)
2
The Arbors
3
Preston Lloyd
4
Frankford Crossing
5
Preston Trail Plaza
3
PROPERTY DESCRIPTION
1
4
2
MARKET OVERVIEW
5
Copyrighted report licensed to Pierson Retail Advisors - 322944.
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
12
MARKET SUMMARY
PRESTON FRANKFORD CROSSING
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.
13
DEMOGRAPHIC STATISTICS
1 Mile
3 Mile
5 Mile
2022 Projection 2017 Estimate 2010 Census Growth 2017-2022 Growth 2010-2017 2017 Population Hispanic Origin
28,538 24,318 14,342 17.35% 69.56% 2,697
194,446 171,063 125,012 13.67% 36.84% 24,459
466,825 418,043 342,661 11.67% 22.00% 84,020
White Black Am. Indian & Alaskan Asian Hawaiian & Pacific Island Other U.S. Armed Forces
18,182 2,549 106 2,888 15 578 0
121,593 23,458 891 20,824 152 4,146 56
305,977 51,216 3,145 47,486 345 9,874 251
12,114 10,454 7,060 15.88% 48.07% 5,605 4,849 $114,153 $78,787
88,320 78,388 61,479 12.67% 27.50% 30,120 48,267 $94,152 $63,235
200,688 180,582 153,097 11.13% 17.95% 80,458 100,124 $94,000 $66,363
1,483 2,030 1531 1208 928 515 997 1762
13,328 18,136 14,083 8,355 6,205 3,513 6,252 8,516
27,055 41,516 32,451 22,220 15,929 9,186 14,640 17,586
FINANCIAL ANALYSIS
Radius
PRESTON FRANKFORD CROSSING
Population:
2017 Population by Race:
2022 Projection 2017 Estimate 2010 Census Growth 2017 - 2022 Growth 2010 - 2017 Owner Occupied Renter Occupied 2017 Avg Household Income 2017 Med Household Income
2017 Households by Household Inc:
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
<$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+
PROPERTY DESCRIPTION
Households:
14
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.
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.
exclusively listed 469.844.8880 | STRIVERE.COM