7522 S. DRIVE, CORPUS CHRISTI, TX 78412

Exclusively Offered By: ED COLSON JR., CCIM JOE AYCOCK 619.546.0121 210.349.7711 [email protected] [email protected] CA Lic #01382996 | TX Lic #635820

InvestCoreCommercial.com OFFERING STATEMENT / DISCLAIMER

InvestCore Commercial presents this Offering which business or affairs of the Property or the Owner since contents to any other entity (except to outside advisors has been prepared by InvestCore Commercial for use the date of preparation of the package. Analysis and retained by you, if necessary, for your determination of by a limited number of parties and does not purport verification of the information contained in this package whether or not to make a proposal and from whom you to provide a necessarily complete summary of the is solely the responsibility of the prospective purchaser. have obtained an agreement of confidentiality) without Property or any of the documents related thereto, nor Additional information and an opportunity to inspect the the prior written authorization of Owner or InvestCore does it purport to be all-inclusive or to contain all of Property will be made available upon written request to Commercial, (iv) not use the package or any of the the information which prospective investors may need interested and qualified prospective investors. contents in any fashion or manner detrimental to the or desire. All projections have been developed by interest of Owner or InvestCore Commercial, and (v) to InvestCore Commercial, the Owner, and designated Owner and InvestCore Commercial each expressly return it to InvestCore Commercial immediately upon sources and are based upon assumptions relating to reserve the right, at their sole discretion, to reject any request of InvestCore Commercial or Owner. the general economy, competition, and other factors and all expressions of interest or offers regarding the beyond the control of the Owner and, therefore, are Property and/or terminate discussions with any entity If you have no further interest in the Property, please subject to variation. No representation is made by at any time with or without notice. Owner shall have no return this Investment Offering forthwith. InvestCore Commercial or Owner as to the accuracy or legal commitment or obligation to any entity reviewing completeness of the information contained herein, and this Offering or making an offer to purchase the Property nothing contained herein is, or shall be relied on as, a unless and until a written agreement for the purchase promise or representation as to the future performance of the Property has been fully executed, delivered, of the Property. Although the information contained and approved by Owner and its legal counsel, and any herein is believed to be correct, Owner and its employees conditions to Owner’s obligations thereunder have disclaim any responsibility for inaccuracies and expect been satisfied or waived. InvestCore Commercial is not prospective purchasers to exercise independent due authorized to make any representations or agreements diligence in verifying all such information. Further, on behalf of Owner. InvestCore Commercial, Owner, and its employees This Offering and the contents, except such information disclaim any and all liability for representations and which is a matter of public record or is provided in sources warranties, expressed and implied, contained in, or for available to the public (such contents as so limited herein omission from, this Investment Offering or any other are called the “Contents”), are of a confidential nature. InvestCore Commercial, Inc. 3910 W. Point Loma Blvd, Suite B written or oral communication transmitted or made By accepting the package, you agree (i) to hold and San Diego, CA 92110 available to the recipient. This Offering does not constitute treat it in the strictest confidence, (ii) not to photocopy or a representation that there has been no change in the duplicate it, (iii) not to disclose the package or any of the

2 | La-Z-Boy - Corpus Christi, TX TABLE OF CONTENTS

INVESTMENT SUMMARY 4

Executive Summary Investment Highlights

PROPERTY DESCRIPTION 8

Street Map Aerials Site Plan

AREA OVERVIEW 13

About La-Z-Boy About Corpus Christi Demographics

3 | La-Z-Boy - Corpus Christi, TX INVESTMENT SUMMARY

Executive Summary Naval Air Station Corpus Christi Income & Expenses Investment Highlights

SUBJECT S. PADRE ISLAND DRIVE - 63,000 CPD PROPERTY

4 | La-Z-Boy - Corpus Christi, TX INVESTMENT SUMMARY

EXECUTIVE SUMMARY

Tenant: SPID Store #6, LLC, dba La-Z-Boy

Personal Guaranty: Yes, the new lease is to be personally guaranteed.

Address: 7522 S Padre Island Drive, Corpus Christi, TX 78412 ~16,200 SF (15,000 SF of showroom; 1,200 SF of Building Size: warehouse) Land Size: ~63,503 SF

Year Built: 2014

Rent Commencement: Close of Escrow

Lease Term: 15 Years

Options: Four (4) 5-year options

Lease Type: Fee Simple NNN Land & Building

Landlord Responsibilities: None, absolute NNN lease

Rent Increases: 10% increase every 5 years Rent Schedule: Term Years Monthly Rent Annual Rent % Increase Primary 1-5 $26,250.00 $315,000 Primary 6-10 $28,875.00 $346,500 10% Primary 11-15 $31,762.50 $381,150 10% Option 1 16-20 $34,938.75 $419,265 10% Option 2 21-25 $38,432.58 $461,191 10% Option 3 26-30 $42,275.83 $507,310 10% Option 4 31-35 $46,503.42 $558,041 10%

OFFERING TERMS Price: $4,500,000 NOI: $315,000 Cap Rate: 7.0 %

5 | La-Z-Boy - Corpus Christi, TX INVESTMENT SUMMARY

INVESTMENT HIGHLIGHTS

Brand New Long-Term NNN Lease

• The owner/tenant will sign a brand new, 15-year absolute NNN lease upon the close of escrow • The new long-term lease will provide an investor with a steady fixed income stream with favorable increases every 5 years

Zero Landlord Responsibilities – Completely Passive Investment

• A new owner will reap the benefits of the new absolute NNN lease with zero landlord responsibilities • Ideal passive investment for any hands-off owner

Major Thoroughfare with High Traffic Counts

• 63,000 cars per day along South Padre Island Drive

High Store Sales – Increasing Year Over Year

• The subject property has enjoyed positive year over year sales growth over the last 3 years • 19% sales increase from 2017 to 2018 • Conservatively projecting $3.05m in sales for 2019

Seasoned La Z Boy Franchisee – 20 Years In Business

• The President of the company purchased the La-Z-Boy franchise in 1999, successfully operating and growing the company over the last 20 years • The franchisee currently operates 5 La-Z-Boy locations (San Antonio – 3, Corpus Christi – 1, McAllen – 1)

6 | La-Z-Boy - Corpus Christi, TX INVESTMENT SUMMARY

INVESTMENT HIGHLIGHTS

Recently Constructed State of the Art Building

• The subject property was completed and open for business in 2014 • Ownership developed the subject property from the ground up, and invested a significant amount in tenant improvements showing a long-term commitment to this location

Well Located Within Retail Trade Area

• Ideally located along South Padre Island Drive, the major thoroughfare through Corpus Christi • Large presence of national retailers in the immediate trade are including Walgreens, McDonalds, Century 16 IMAX theaters, Applebee’s, numerous hotel and car dealerships and the Target HEB anchored shopping center just NW of the subject property

Built In Customer Base – Naval Air Station Corpus Christi & Texas A&M University

• La-Z-Boy benefits from a large customer base coming from the nearby NAS Corpus Christi base as well as the satellite campus for Texas A&M University • There are multiple apartment complexes within just a few blocks of the subject property housing a number of students who attend the university

7 | La-Z-Boy - Corpus Christi, TX PROPERTY DESCRIPTION

Street Map Aerials Site Plan

SUBJECT PROPERTY

S. PADRE ISLAND DRIVE - 63,000

8 | La-Z-Boy - Corpus Christi, TX PROPERTY DESCRIPTION

STREET MAP

9 | La-Z-Boy - Corpus Christi, TX PROPERTY DESCRIPTION

AERIAL

10 | La-Z-Boy - Corpus Christi, TX PROPERTY DESCRIPTION

TEXAS A&M UNIVERSITY CORPUS CHRISTI AND NEARBY APARTMENTS

Momentum Village

Seaside Villa Condominiums The Shores Apartments Apartments

S. PADRE ISLAND DRIVE - 63,000 CPD Camden South Bay Apartments

Baypoint Apartments

Campus SUBJECT Quarters PROPERTY

11 | La-Z-Boy - Corpus Christi, TX PROPERTY DESCRIPTION

SITE PLAN

12 | La-Z-Boy - Corpus Christi, TX AREA OVERVIEW

About La-Z-Boy About Corpus Christi Demographics

13 | La-Z-Boy - Corpus Christi, TX AREA OVERVIEW

ABOUT LA-Z-BOY www.la-z-boy.com

SPID Store #6, LLC, dba La-Z-Boy

• The new lease will be personally guaranteed by Robert W. Broadnax, the Tenant and owner of the La-Z-Boy franchise • 20+ years’ experience working in the industry • After graduating college, went directly into the business and was the youngest La-Z-Boy franchisee in the Country • Bought their La-Z-Boy franchise in 1999 Indonesia, Italy, Japan, Mexico, New Zealand, Turkey and furniture retailers and proprietary stores. This includes • Currently operates 5 locations (San Antonio – 3; South Africa. La-Z-Boy holds US and international patents recliners and motion furniture, sofas, lift chairs, loveseats, Corpus Christi – 1; McAllen – 1) on more than 200 different styles and mechanisms. chairs, ottomans and sleeper sofas. The Casegoods • Since 2016, year over year increases in Total Reve- Group primarily sells manufactured or imported wood nues for the company La-Z-Boy Incorporated is divided into three reportable furniture to furniture retailers, including tables, chairs, en- • 14% increase in Total Revenues from 2017 to 2018 operating segments: the Upholstery Group, the Case- tertainment centers, headboards, dressers, accent pieces goods Group and the Retail Group. The Upholstery Group and some coordinated upholstered furniture. The Retail La-Z-Boy Inc. is an American furniture manufacturer primarily manufactures and sells upholstered furniture to Group consists of 70 company-owned stores in the US. based in Monroe, Michigan, USA, that makes home The Retail Group sells mainly upholstered furniture to end furniture, including upholstered recliners, sofas, station- consumers through the retail network. ary chairs, lift chairs and sleeper sofas. The company La-Z-Boy Inc. – a publicly traded company employs more than 11,000 people. La-Z-Boy includes various companies and brands includ- NYSE: LZB; S&P 600 Component ing La-Z-Boy Residential, La-Z-Boy Kids, La-Z-Boy Hos- La-Z-Boy furniture is sold in thousands of retail residential Founded: 1927 pitality, Lea Furniture, American Drew, Kincaid Furniture, outlets in the United States and Canada and is manu- Revenue: $1.52 billion Bauhaus USA Furniture, Hammary Furniture and England factured and distributed under license in other coun- Net Income: $85.92 million Furniture Incorporated. In July 2018 it was announced tries including the United Kingdom, Australia, Germany, Number of Employees: 11,000+ that La-Z-Boy was acquiring online furniture company Website: www.la-z-boy.com Joybird for an undisclosed amount.

14 | La-Z-Boy - Corpus Christi, TX AREA OVERVIEW

PORT OF CORPUS CHRISTI $400 MILLION EXPANSION News Article

May 30, 2019 – Corpus Christi, TX. After nearly three decades depth of 54 feet — is meant to accommodate larger vessels of waiting, the Corpus Christi Ship Channel is finally going to get capable of carrying a greater amount and wider variety of goods. bigger. In addition to crude oil, the port facilitates the import and export of liquefied natural gas, wind turbine equipment, military cargo, A groundbreaking ceremony on Wednesday officially kicked and grain sorghum. off work to widen and deepen the ship channel at the Port of Corpus Christi. It has been nearly 30 years since Congress first It is coinciding with construction of the taller and longer replace- authorized looking at deepening the channel from its current ment to the aging Harbor Bridge. Port officials are hoping the depth of 45 feet. multi-phase dredging project will be finished by the time the new bridge is complete and the Harbor Bridge is demolished in 2022. Solomon P. Ortiz, the congressman representing Corpus Christi in 1990, he got Congress to authorize the feasibility study. Port “Why is it good?” Strawbridge asked, referring to the more than of Corpus Christi officials have long considered the deeper and of 30 years of discussion to deepen the channel to accommo- $400 million channel improvement project. “Because it means wider channel to be its most important project, and now it is date larger vessels. more jobs, it means more tax revenues, it means more prosper- finally underway. ity.” Sean Strawbridge, chief executive officer of the Port of Corpus Sean Strawbridge, chief executive officer of the Port of Corpus Christi, speaks at the celebration of the commencement of the He said Corpus Christi is now home to “one of the most crucial Christi, speaks at the celebration of the commencement of the Port of Corpus Christi Ship Channel Improvement Project on ports in America for energy and economic growth.” Port officials Port of Corpus Christi Ship Channel Improvement Project on Wednesday, May 29, 2019 at the Congressman Solomon P. Ortiz have said that the Port of Corpus Christi is primarily focused on Wednesday, May 29, 2019 at the Congressman Solomon P. Ortiz International Center. The $380 million project is the culmination exports, rather than imports, putting it in a position to help the International Center. The $380 million project is the culmination of 30 years of discussion to deepen the channel to accommo- U.S. address its existing trade deficit. date larger vessels.

Sean Strawbridge, the port’s CEO, said the port has seen phe- nomenal growth since Congress lifted a 40-year ban on crude oil exports that was put into place in 1975 by President Gerald Ford. That ban was lifted in late 2015, allowing the nation’s first ship- ment of crude oil to be exported from the Port of Corpus Christi.

“Since that time, we have not looked back,” Strawbridge said. “We’ve got a lot of great things going for us here in the great state of Texas and certainly here in the Port of Corpus Christi.”

The wider and deeper channel — which will be dredged to a

15 | La-Z-Boy - Corpus Christi, TX AREA OVERVIEW

ABOUT CORPUS CHRISTI

• Population (City): 320,434 ECONOMY Additionally located on NAS Corpus Christi is the United • Population (Metro): 442,600 The majority of the population is employed in the States Coast Guard Sector/Air Station Corpus Christi. • 8th most populous city in Texas services, wholesale and retail trades, and government • 5th largest port in the US sectors. Corpus Christi has an unemployment rate of Corpus Christi is the original home of the headquarters • Major Employers: 5.6% as of November 2016. of Whataburger, a fast-food restaurant operator and franchiser with 650 stores in 10 states and Mexico; The Port of Corpus Christi, which is the fifth-largest U.S. however, the company relocated its headquarters to port and deepest inshore port on the Gulf of Mexico, San Antonio in 2009. Other large employers include handles mostly oil and agricultural products. Much of CHRISTUS Spohn Health System at 5,400 local the local economy is driven by tourism and the oil and employees, the Corpus Christi Independent School Corpus Christi is a coastal city in the South Texas region petrochemicals industry. In 2005, the port was ranked as District with 5,178, H-E-B at 5,000, and Bay Ltd. at 2,100. of the U.S. state of Texas. The county seat of Nueces the 47th-largest in the world by cargo tonnage. Other companies based in Corpus Christi include Stripes County, it also extends into Aransas, Kleberg, and San Convenience Stores and AEP Texas. Patricio counties. It is 130 miles southeast of San Antonio. Corpus Christi is home to Naval Air Station Corpus Its political boundaries encompass and Christi providing 6,200 civilian jobs to the local economy, ATTRACTIONS . Its zoned boundaries include small making it the single largest employer in the city. Corpus The city is home to a number of popular destinations for land parcels or water inlets of three neighboring counties. Christi Army Depot, located on NAS Corpus Christi, both tourists and residents. The official visitor and tourism is the largest helicopter repair facility in the world.[9] information organization is the Corpus Christi Convention The city’s population was estimated to be 320,434 and Visitors Bureau. Some of the most visited attractions in 2014, making it the eighth-most populous city in are located on North Beach, where the Texas State Texas. The Corpus Christi metropolitan area had an Aquarium and the USS Lexington Museum on the Bay are estimated population of 442,600. It is also the hub of located. the six-county Corpus Christi-Kingsville-Alice Combined Statistical Area, with a 2013 estimated population of South Padre Island Drive is the city’s main retail corridor, 516,793. The Port of Corpus Christi is the fifth-largest in with two shopping malls, La Palmera (formerly Padre the United States. The region is served by the Corpus Staples Mall), and Sunrise Mall. Also, a number of Christi International Airport. other large shopping centers, small strip centers, and restaurants can be found throughout the city.

16 | La-Z-Boy - Corpus Christi, TX AREA OVERVIEW

Executive Summary DEMOGRAPHICS La-Z-Boy - Corpus Christi, TX Prepared By Ed Colson Jr., CCIM 7522 S Padre Island Dr, Corpus Christi, Texas, 78412 Latitude: 27.69054 Rings: 1, 3, 5 mile radii Longitude: -97.33414 1 mile 3 miles 5 miles Population 2000 Population 7,788 46,560 127,020 2010 Population 7,635 55,896 145,865 2018 Population 9,011 66,354 165,434 2023 Population 9,711 71,713 176,265 2000-2010 Annual Rate -0.20% 1.84% 1.39% 2010-2018 Annual Rate 2.03% 2.10% 1.54% 2018-2023 Annual Rate 1.51% 1.57% 1.28% 2018 Male Population 50.7% 48.6% 48.7% 2018 Female Population 49.3% 51.4% 51.3% 2018 Median Age 31.3 33.6 35.4

In the identified area, the current year population is 165,434. In 2010, the Census count in the area was 145,865. The rate of change since 2010 was 1.54% annually. The five-year projection for the population in the area is 176,265 representing a change of 1.28% annually from 2018 to 2023. Currently, the population is 48.7% male and 51.3% female. Median Age The median age in this area is 31.3, compared to U.S. median age of 38.3. Race and Ethnicity 2018 White Alone 79.9% 78.8% 79.3% 2018 Black Alone 4.4% 4.6% 4.3% 2018 American Indian/Alaska Native Alone 0.5% 0.6% 0.7% 2018 Asian Alone 5.5% 4.0% 3.9% 2018 Pacific Islander Alone 0.2% 0.2% 0.1% 2018 Other Race 6.8% 8.7% 8.7% 2018 Two or More Races 2.8% 3.1% 3.1% 2018 Hispanic Origin (Any Race) 48.2% 54.3% 54.6%

Persons of Hispanic origin represent 54.6% of the population in the identified area compared to 18.3% of the U.S. population. Persons of Hispanic Origin may be of any race. The Diversity Index, which measures the probability that two people from the same area will be from different race/ethnic groups, is 68.2 in the identified area, compared to 64.3 for the U.S. as a whole. Households 2000 Households 3,424 18,279 48,404 2010 Households 3,512 22,016 56,731 2018 Total Households 4,161 25,918 64,047 2023 Total Households 4,493 27,971 68,152 2000-2010 Annual Rate 0.25% 1.88% 1.60% 2010-2018 Annual Rate 2.08% 2.00% 1.48% 2018-2023 Annual Rate 1.55% 1.54% 1.25% 2018 Average Household Size 2.16 2.49 2.55

The household count in this area has changed from 56,731 in 2010 to 64,047 in the current year, a change of 1.48% annually. The five-year projection of households is 68,152, a change of 1.25% annually from the current year total. Average household size is currently 2.55, compared to 2.54 in the year 2010. The number of families in the current year is 41,637 in the specified area.

17 | La-Z-Boy - Corpus Christi, TX

Data Note: Income is expressed in current dollars Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2018 and 2023. Esri converted Census 2000 data into 2010 geography.

June 04, 2019

©2019 Esri Page 1 of 2 AREA OVERVIEW

Executive Summary DEMOGRAPHICS La-Z-Boy - Corpus Christi, TX Prepared By Ed Colson Jr., CCIM 7522 S Padre Island Dr, Corpus Christi, Texas, 78412 Latitude: 27.69054 Rings: 1, 3, 5 mile radii Longitude: -97.33414 1 mile 3 miles 5 miles Median Household Income 2018 Median Household Income $44,708 $54,154 $57,557 2023 Median Household Income $51,415 $60,033 $63,549 2018-2023 Annual Rate 2.83% 2.08% 2.00% Average Household Income 2018 Average Household Income $55,155 $71,551 $77,595 2023 Average Household Income $62,733 $80,997 $87,144 2018-2023 Annual Rate 2.61% 2.51% 2.35% Per Capita Income 2018 Per Capita Income $25,387 $28,301 $30,266 2023 Per Capita Income $28,931 $31,947 $33,904 2018-2023 Annual Rate 2.65% 2.45% 2.30% Households by Income Current median household income is $57,557 in the area, compared to $58,100 for all U.S. households. Median household income is projected to be $63,549 in five years, compared to $65,727 for all U.S. households

Current average household income is $77,595 in this area, compared to $83,694 for all U.S. households. Average household income is projected to be $87,144 in five years, compared to $96,109 for all U.S. households

Current per capita income is $30,266 in the area, compared to the U.S. per capita income of $31,950. The per capita income is projected to be $33,904 in five years, compared to $36,530 for all U.S. households

Housing 2000 Total Housing Units 3,784 19,732 52,103 2000 Owner Occupied Housing Units 1,438 9,276 27,720 2000 Renter Occupied Housing Units 1,986 9,002 20,683 2000 Vacant Housing Units 360 1,454 3,700 2010 Total Housing Units 3,827 23,708 61,222 2010 Owner Occupied Housing Units 1,415 11,456 32,934 2010 Renter Occupied Housing Units 2,097 10,560 23,797 2010 Vacant Housing Units 315 1,692 4,491 2018 Total Housing Units 4,460 27,300 68,142 2018 Owner Occupied Housing Units 1,456 12,545 35,263 2018 Renter Occupied Housing Units 2,705 13,373 28,784 2018 Vacant Housing Units 299 1,382 4,095 2023 Total Housing Units 4,826 29,458 72,536 2023 Owner Occupied Housing Units 1,604 13,994 38,515 2023 Renter Occupied Housing Units 2,889 13,977 29,636 2023 Vacant Housing Units 333 1,487 4,384

Currently, 51.7% of the 68,142 housing units in the area are owner occupied; 42.2%, renter occupied; and 6.0% are vacant. Currently, in the U.S., 56.0% of the housing units in the area are owner occupied; 32.8% are renter occupied; and 11.2% are vacant. In 2010, there were 61,222 housing units in the area - 53.8% owner occupied, 38.9% renter occupied, and 7.3% vacant. The annual rate of change in housing units since 2010 is 4.87%. Median home value in the area is $161,751, compared to a median home value of $218,492 for the U.S. In five years, median value is projected to change by 2.74% annually to $185,116.

18 | La-Z-Boy - Corpus Christi, TX

Data Note: Income is expressed in current dollars Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2018 and 2023. Esri converted Census 2000 data into 2010 geography.

June 04, 2019

©2019 Esri Page 2 of 2 INFORMATION ABOUT BROKERAGE SERVICES

Before working with a real estate broker, you should know that the duties of a with The Texas Real Estate License Act.The broker must obtain the written consent broker depend on whom the broker represents. If you are a prospective seller of each party to the transaction to act as an intermediary. The written consent must or landlord (owner) or a prospective buyer or tenant (buyer), you should know state who will pay the broker and, inconspicuous bold or underlined print, set forth that the broker who lists the property for sale or lease is the owner’s agent. A the broker’s obligations as an intermediary. The broker is required totreat each party broker who acts as a subagent represents the owner incooperation with the honestly and fairly and to comply with The Texas Real Estate License Act. A broker listing broker. A broker who acts as a buyer’s agent represents the buyer. A who acts as an intermediary in a transaction: 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 (1) shall treat all parties honestly; lease, or obtaining financing without representing you. A broker is obligatedby (2) may not disclose that the owner will accept a price less than the asking price law to treat you honestly. unless authorized inwriting to do so by the owner; (3) may not disclose that the buyer will pay a price greater than the price IF THE BROKER REPRESENTS THE OWNER submitted in a written offer unless authorized in writing to do so by the buyer; and The broker becomes the owner’s agent by entering into an agreement with the (4) may not disclose any confidential information or any information that a party owner, usually through a written-listing agreement, or by agreeing to act as a specifically instructs the broker in writing not to disclose unless authorized in writing subagent by accepting an offer of subagency from the listing broker.A subagent to disclose the information or required to do so by The Texas Real Estate License Act may work in a different real estate office. A listing broker or subagent can assist or a court order or if the information materially relates to the condition of the property. the buyer but does not represent the buyer and must place the interests ofthe owner first. The buyer should not tell the owner’s agent anything the buyer With the parties’ consent, a broker acting as an intermediary between the parties would not want the owner to know because an owner’s agent must disclose to may appoint a person whois licensed under The Texas Real Estate License Act and the owner any material information known to the agent. associated with the broker to communicate with and carry out instructions of one party and another person whois licensed under that Act and associated with the IF THE BROKER REPRESENTS THE BUYER broker to communicate with and carry out instructions of the other party. The broker becomes the buyer’s agent by entering into an agreement to represent the buyer, usually through a written buyer representation agreement. If you choose to have a broker represent you, you should enter into a written A buyer’s agent can assist the owner but does not represent the owner and agreement with the broker that clearly establishes the broker’s obligations and your must place the interests of the buyer first. The owner should not tell a buyer’s obligations. The agreement should state how and by whom the broker will be paid. agent anything the owner would not want the buyer to know because a buyer’s You have the right to choose the type of representation, if any, you wish to receive. agent must disclose to the buyer any material information known to the agent. 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 IF THE BROKER ACTS AS AN INTERMEDIARY the broker, you should resolve those questions before proceeding. A broker may act as an intermediary between the parties if the broker complies

19 | La-Z-Boy - Corpus Christi, TX