HOUSTON CENTRAL BUSINESS DISTRICT • 3.8 MILES TEXAS MEDICAL CENTER • 8 MILES
WOODLAND HEIGHTS HOME VALUES UP TO $1.9M
Heights High School N MAIN ST GREATER HEIGHTS HOME VALUES UP TO $2.3M
Heights Blvd Trail Menchie’s Frozen Yogurt Collina’s Italian Heights Marketplace Future Wellness Heights W. 19th Street Bell Heights Urban Soles Outpost Heights Antiques On Yale Penzeys Spices Yale Street Grill Shopping District “Downtown of the Heights” W 20TH ST St. Joseph Medical Center Bernie's Burger Bus 2125 Yale Texas Children's Pediatrics First Saturday Arts Market Heights Asian Cafe Braun Enterprises YALE ST 17,962 Total SF Retail Yoga studio Heights Salon Two ~5,000 SF restaurants RUTLAND ST
Future MF Development W 25TH ST One eight-story, 275-unit complex One six-story, 63-unit complex SITE ASHLAND ST
SITE
NICHOLSON ST Heights Market Trail
W 27TH ST Holden Heights
±9.86 Acres at Rutland St and W. 25th St Largest Available Land Tract in the Houston Heights
OFFERING MEMORANDUM Contacts, Due Diligence, & Offer Requirements
Tim Dosch Becky Hand Dosch Marshall Real Estate Principal Senior Associate 713.955.3120 [email protected] [email protected] O 713-955-3127 O 713-955-3121 777 Post Oak Blvd Houston, TX 77056 M 713-459-8123 M 918-629-5592 www.dmreland.com
David Marshall Dillon Mills Principal Senior Associate [email protected] [email protected] O 713-955-3126 O 713-955-3123 M 713-206-1574 M 713-254-3824
Tom Dosch Tripp Rich Principal Transaction Manager [email protected] [email protected] O 713-955-3125 O 713-955-3124 M 713-557-4455 M 936-635-6968
Clark Dalton Kenneth Danna Vice President Analyst [email protected] [email protected] O 713-955-3122 O 713-955-3120 M 832-449-2223 M 713-829-2615
±9.86 ACRES IN THE HOUSTON HEIGHTS 2 Marketing Process
Exclusive Representation Dosch Marshall Real Estate (DMRE) has been exclusively retained to represent the Seller in the disposition of ±9.86 acres at Rutland Street and W. 25th Street in Houston, TX (Property). All inquiries about the Property should be GARDEN OAKS HOME VALUES UP TO $1.99M directed to DMRE. OPENING 2018
Due Diligence Information El Rey Taqueria The offering memorandum and survey(s) are available on YALE ST
RUTLAND ST
the Property website at www.dmreland.com. ASHLAND ST Other due diligence information is stored securely with a reputable file sharing service. DMRE will provide qualified, interested investors with a link to these materials. NICHOLSON ST W 26TH ST
Heights Market Trail
Offer Deadline SITE
Offers will be due in late April or early May. W 25TH ST Holden Heights SITE Offer Requirements DMRE will provide potential buyers detailed offer W 24TH ST instructions, but in general, offers should be presented ASHLAND ST GREATER HEIGHTS in the form of a non-binding Letter of Intent, and should HOME VALUES UP TO $2.3M include: • Pricing • Due Diligence and Closing Timeframe W 23RD ST • Earnest Money Deposit • Description of Debt/Equity Structure • Qualifications to Close • Development Plans
Purchase terms shall require cash to be paid at closing. Offers should be delivered to the attention of Tim Dosch, David Marshall, Tom Dosch, or Becky Hand via fax or email.
±9.86 ACRES IN THE HOUSTON HEIGHTS 3 Property Subdivision
The Seller will consider selling the Property in one transaction or subdivided. See below for examples of potential transaction opportunities.
A) Entire Site B) North or South Tract C) Partial North Tract(s), South Tract ASHLAND ST ASHLAND ST ASHLAND ST
W 26TH ST W 26TH ST W 26TH ST
RUTLAND ST Parcel A RUTLAND ST Parcel A Parcel B RUTLAND ST NICHOLSON ST NICHOLSON ST NICHOLSON ST Single Parcel W 25TH ST W 25TH ST W 25TH ST
W 25TH ST W 25TH ST W 25TH ST
Parcel B Parcel C
W 24TH ST W 24TH ST W 24TH ST ASHLAND ST ASHLAND ST ASHLAND ST
• Parcel size: ±9.86 acres • Parcel A: ±6.13 acres • Parcel A: ±3.00 acres • Property can be purchased as one transaction • Parcel B: ±3.73 acres • Parcel B: ±3.13 acres • Property can be subdivided • Parcel C: ±3.73 acres • Property can be subdivided
±9.86 ACRES IN THE HOUSTON HEIGHTS 4 Property Details Property Details Largest available tract in the Houston Heights LOCATION Partial block bounded by W. 26th St, Nicholson St, Rutland St and W. 25th St • Frontage on 5 streets: W. 26th St, Rutland St, Ashland St, W. 24th St, and W. 25th St N MAIN ST Partial block bounded by W. 25th St, Rutland St, Ashland St, and • Easy walking distance (less than 0.5 mi) to W. 19th Street Shopping District, the W. 24th St downtown of the Heights W 20TH ST • The Heights Market Trail is a few feet from the western edge of the property Houston, TX 77008 • The Property is ideally located very close to future development: just one block from LAT., LONG. 29.809660, -95.403235 the future HEB, 0.25 mile from the future 365 Whole Foods, and less than 0.5 mi from Heights Waterworks Heights Blvd Trail TOTAL SIZE ±9.86 acres • Superb highway access: Interstate 610 is just two blocks north of the Property SCHOOLS Houston ISD . ree PRICE To be decided by market o n r c “Downtown of the Heights” YALE ST GRE TER HE GHTS 2017 Tax Rates HOME VALUES UP TO $2.3M 1 HOUSTON ISD 1.206700 W 22ND ST W 23RD ST 40 HARRIS COUNTY 0.418010 RUTLAND ST W 24TH ST 41 HARRIS CO FLOOD CNTRL 0.028310 SITE 42 PORT OF HOUSTON AUTHY 0.012560 SITE 43 HARRIS CO HOSP DIST 0.171100 44 HARRIS CO EDUC DEPT 0.005195 ASHLAND ST 48 HOU COMMUNITY COLLEGE 0.100263 61 CITY OF HOUSTON 0.584210
total 2.526348 W 25TH ST
W 26TH ST
W 27TH ST
2017 Demographics 0-1 mile 0-5 miles 0-10 miles
EST. POPULATION W 28TH ST 16,458 150,036 420,031 Heights Market Trail 5-YR EST. POPULATION GROWTH 8.13% 7.33% 7.10% AVERAGE HOUSEHOLD INCOME $137,341 $112,484 $107,602 NICHOLSON ST MEDIAN OWNER-OCCUPIED HOUSING VALUES $285,361 $242,515 $204,345
±9.86 ACRES IN THE HOUSTON HEIGHTS 5 Property Survey - North Tract
~408’
131.00’
~348’
598.00’ 225.00’
124.18’
369.57’ 779.86’
±9.86 ACRES IN THE HOUSTON HEIGHTS 6 Property Survey - South Tract
575.50’ 118.50’
53.00’ 268.50’
150.00’
628.00’
±9.86 ACRES IN THE HOUSTON HEIGHTS 7 ±9.86 ACRES IN THE HOUSTON HEIGHTS Map -MajorLocalHighlights A S C C T I T C R N DURHAM DR . I FUTURE RETAIL W18TH ST . I FUTURE RETAIL
R TEA ART N SHEPHERD DR OPENING FALL 2018 O 6 O Future MFDevelopment O S RI E I C A A S S S U S O H C I H T H W 25TH ST W 24TH ST DEVELOPMENT W 20TH ST W 21ST ST W19TH ST FUTURE Helms Elementary School . I
NICHOLSON ST W 26TH ST Dining Shopping W 19THST D STR CT SH PP NG D WNT WN HE GHTS H C T T S C E H E R T N A H St. JosephMedicalCenter
ASHLAND ST SITE SITE T C C C H G H R S N H C . S 96 T S R Braun Enterprises
15,306 CPD Theater Wellness U S T I A T HITS T S I RUTLAND ST S T R H G H T H
YALE ST Pediatrics Texas Childrens Middle School Hamilton
HEIGHTS BLVD 8 Aerial - West
G RDEN S SH D CRES HOME VALUES UP TO $1.99M HOME VALUES UP TO $899K
Mels Seafood Shack N DURHAM DR Gabby s BB Crossfit H Town Future Retail Development Throughgood Coffee
N SHEPHERD DR Copper Penny risp Bird Batter
Holden Heights
NICHOLSON ST OPENING FALL 2018 Heights Market Trail
ASHLAND ST
ASHLAND ST SITE W 27TH ST SITE
W 26TH ST
RUTLAND ST W 25TH ST
W 24TH ST
W 23RD ST GRE TER HE GHTS HOME VALUES UP TO $2.3M
±9.86 ACRES IN THE HOUSTON HEIGHTS 9 Aerial - North
GARDEN OAKS HOME VALUES UP TO $1.99M OPENING 2018
El Rey Taqueria
YALE ST
RUTLAND ST
ASHLAND ST
NICHOLSON ST W 26TH ST
Heights Market Trail
SITE
W 25TH ST Holden Heights SITE
W 24TH ST
ASHLAND ST GREATER HEIGHTS HOME VALUES UP TO $2.3M
W 23RD ST
±9.86 ACRES IN THE HOUSTON HEIGHTS 10 Aerial - East
W DL ND HE GHTS E ST HE GHTS HOME VALUES UP TO $1.9M HOME VALUES UP TO $1.4M N MAIN ST W 20TH ST
Wellness Heights Heights ntiques n ale Heights Blvd Trail ale Street Grill ngela s ven Bernie s Burger Bus . ree Texas Children's Pediatrics o n r c OPENING Heights Salon 2125 Yale ohnny s Gold Brick “Downtown of the Heights” 2018 Heights sian Cafe YALE ST us Mac
W 22ND ST W 23RD ST W 24TH ST RUTLAND ST SITE SITE GRE TER HE GHTS HOME VALUES UP TO $2.3M ASHLAND ST
W 25TH ST
W 26TH ST
W 27TH ST
W 28TH ST
Holden Heights Heights Market Trail
NICHOLSON ST
±9.86 ACRES IN THE HOUSTON HEIGHTS 11 Area Highlights
The Houston Heights Established in 1891, the Houston Heights W TC JESTER BLVD is one of Houston’s most distinct historic neighborhoods. Twenty-three feet higher than Houston’s Central Business District G RDEN S SH D CRES HOME VALUES UP TO $1.99M located a few miles to the southeast, the ing s BierHaus HOME VALUES UP TO $899K area provided relief from flood-prone Buf- Providence Heights Bar Hubcap Grill falo Bayou at the end of the 1800s. The Boot Mc ntyre s Cedar Creek Future Retail Development The Heights is known for its grand Victo- Big Star Bar Crossfit H Town rian homes, walkable neighborhoods and Eureka Heights Brew Co W 18TH ST N DURHAM DR Studio Fitness Throughgood Coffee abundant opportunities for outdoor rec- raftsmen Baking N SHEPHERD DR risp Bird Batter reation, such as the 60-foot-wide Heights Braun Enterprises 96 T S R Holden Heights Boulevard esplanade and the Heights Hike Future MF Development T S O & Bike Trail. O 6 Opening Fall 2018 While Heights retail and entertainment has Heights Market Trail in the past been limited to mom-and-pop NICHOLSON ST shops and funky bars, the neighborhood’s’ W 27TH ST popularity with a young and stylish demo- St. Joseph Medical Center ASHLAND ST graphic has in recent years encouraged the W 19TH ST SITE SITE W 22ND ST addition of Houston’s best dining, arts and GRE TER HE GHTS W 21ST ST HOME VALUES UP TO $2.3M theater, and mainstream retail. . ree W 26TH ST o n r c W 20TH ST New development has been especially con- “Downtown of the Heights” RUTLAND ST W 25TH ST W 24TH ST centrated along West 19th Street & West W 23RD ST 20th Street between N. Shepherd Drive and Heights Boulevard - mostly known as the West 19th Shopping District, but proudly considered “the downtown of the Heights” by residents. The District hosts unique Heights community events such as the monthly First Saturday Art Market and the annual White Linen Night.
Heights alcohol ban lifted Heights residents voted in November 2016 to lift the Prohibition-era ban on stores selling beer and wine in a “dry zone” that extended from W. 27th St. in the south to White Oak Bayou in the north and from Lawrence and Dian in the east to Oxford in the west. Lifting this restriction has led to increased development in the Heights, particularly the addition of quality grocery stores, mainstream retail, and fashionable restaurants.
±9.86 ACRES IN THE HOUSTON HEIGHTS 12 Area Highlights: Parks & Recreation
. Memorial Hermann Hospital LITTLE THICKET SHADY ACRES WRIGHT- H T PARK Home Prices up to $627K BEMBREY HALBERT EAST HEIGHTS PARK PARK Home Prices up to $1.4M TC JESTER BLVD W 20TH ST W CAVALACADE ST MARMION LAZYBROOK/TIMBERGROVE PARK
. 9 S S HEIGHTS BLVD Home Prices up to $717K MONTIE BEACH GREATER HEIGHTS PARK O T Home Prices up to $2M
JAYCEE H T PARK LOVE PARK MILROY
DURHAM DR DURHAM PARK W 11TH ST E 11TH ST
PARK SHEPHERD DR
H H T WOODLAND HEIGHTS LAWRENCE Home Prices up to 1.6M PARK DONOVAN WOODLAND PARK COTTAGE GROVE PARK WHITE OAK DR 0.5 MILE WHITE OAK Home Prices up to $552K PARK STUDE PARK
MEMORIAL PARK
Memorial Park Heights Hike & Bike Trail Donovan Park White Oak Bayou Greenway White Oak Bayou Bridge
±9.86 ACRES IN THE HOUSTON HEIGHTS 13 Downtown Houston 3.5 miles from the Property
GEORGE R BROWN CONVENTION CENTER Employment Entertainment & Attractions • Over 150,000 employees • Over ten million people visit Downtown annually • Over 3,000 businesses and 50.4 million SF office • 22 hotels and 7,300 hotel rooms space • 9 major performing arts organizations • Class A office occupancy at 85.6% • 2 million SF retail space • 754,000 SF of office space is under construction • Over 300 restaurants, coffee shops, and bars, includ- • Hosts 20 of Houston’s 26 Fortune 500 companies; 9 ing the renowned Xochi, Potente and Local Foods have their headquarters in Downtown Houston
Top Employers Toyota Center MINUTE MAID PARK TOYOTA CENTER • Home of the NBA’s Houston Rockets Employer # Employees • The Toyota Center has a total of 750,000 square feet, with 18,300 seats available for basketball, 17,800 for Chevron 8,600 hockey, and 19,000 for concerts, including 2,900 club seats and 103 luxury, courtside seats Shell Oil Company 7,000 Minute Maid Park Chase Bank 4,892 • Home of the Houston Astros and Houston Aeros pro- fessional sports teams CenterPoint Energy 3,826 • Built in the year 2000, Minute Maid Park has a 242-foot George R Brown Convention Center high retractable roof • 1.9 million SF KBR 2,958 • Minute Maid Park has a gross square footage of 28.97 • $253 million economic impact acres, a total square footage of 1,263,240, and a total of NRG/Reliant Energy 2,300 • Fronted by Avenida de las Americas, a boulevard 40,963 seats running from Minute Maid Park to Hilton Ameri- ExxonMobil Corporation 2,200 GreenStreet cas-Houston, which features five restaurants and • Three-block, 570,000-square-foot mixed-use destina- festival and event space Hess 2,000 tion with shopping, entertainment and dining Houston Theater District • III Forks, McCormick & Schmick’s, House of Blues, • The Houston Theater District, an impressive 17-block Kinder Morgan 1,860 Lucky Strike cultural and entertainment center, is the second largest • Hosts NRG’s regional headquarters, one of the nation’s performing arts district in the U.S. next to Broadway in Deloitte 1,700 largest energy providers New York City • 90,000 square feet of collaborative office space with • Nine performing arts organizations with more than Enterprise Products Partners 1,360 easy access to transit and parking 12,900 seats for live performances • Includes 130,000 square foot Bayou Place entertain- Ernst & Young 1,300 • Home of the Hotel Alessandra – a new 223-room luxury hotel which opened in 2017 ment complex offering popular restaurants, movies, and parks Waste Management, Inc. 1,270 Discovery Green Park • More than two million visitors annually • Two-acre picnic lawn with one-acre lake, jogging trail, PriceWaterhouseCoopers 1,236 performance stage, two dog parks, and multiple gar- • Venues include: Alley Theater, Wortham Theater Center, dens Hobby Center, Sundance Cinemas, Jones Hall & Jones LyondellBasell Industries 1,200 Plaza, House of Blues, Houston Ballet, Bayou Music • Served as the planned entertainment zone, or “Super Center Bowl El Centro,” for the 2017 Super Bowl
±9.86 ACRES IN THE HOUSTON HEIGHTS 14 Downtown Houston 3.5 miles from the Property Market Overview Office developments RENDERING: HOTEL ALESSANDRA AND • Skanska resumed construction on Capitol Tower, its THE GREENSTREET REDEVELOPMENT 35-story 754,000 SF office tower at 811 Rusk; the lead tenant, Bank of America, preleased 210,000 SF and RETAIL has acquired the naming rights for the tower HIGHLIGHTS • Chevron’s 1500 Louisiana is undergoing a $10 million renovation as part of the company’s relocation of 9 around 900 employees from its Bellaire campus new retailers • Global co-working giant WeWork will open its first Houston location Downtown soon in The Jones at THE TIPPING POINT Main at 708 Main; WeWork will occupy 86,000 SF, housing over 1,400 of its members; the facility will
accomodate a range of companies (individuals, The Tipping Point startup firms and entrepreneurs) and provide private RETAIL (CONTINUED) office space for 120+ employees of companies that The Tipping Point, Downtown’s first and only cre- An upscale white table cloth full-service restaurant, require a regular presence in Houston ative lifestyle destination, is open in the Historic W. L. Lucienne, and lobby bar, Bardot, are planned on the Foley Building at 214 Travis Street. Locally owned and second floor of the new Hotel Alessandra. The restau- • Hines unveiled its twenty-first tower in the Houston operated by native Houstonians since 2007, the store rant will feature Mediterranean cuisine from countries curates a select collection of limited-edition footwear, such as Portugal, Greece, France and Spain and seat skyline, 609 Main, at a grand opening on May 17; Hines books, art, apparel, music, and accessories that are a about 100. (Chronicle) is the building’s first tenant and moved into their new reflection of their creative lifestyle. (Website) Celebrity Chef Bryan Caswell, the chef-owner of Reef, Southwest regional office on the 44th floor on April 22; COMING SOON: El Real, and Little Bigs plans to open a new restaurant, the building is 60 percent leased B&BLAUNCH Butchers POPUP owner, Benjamin SHOP Berg, will be opening160FT Oxbow BEERWORKS 7, on the ground floor of the new Le Méridien Benjamin’s, a new 16,000 SF world-class restaurant on hotel at 1121 Walker St., and a rooftop bar, Hoggbirds on the ground and mezzanine floors of The Star apartment the 22nd floor. The restaurant and bar are expected to building at 1111 Rusk. The new restaurant is expected open along with the hotel on August 22. HBJ( , culturemap, toNew open towardsretail the& restaurantend of summer 2018. openings (Chronicle, Website) RENDERING: FINAL DESIGN OF HIGH SCHOOL FOR Other developments & updates HBJ, RNR) THE PERFORMING AND VISUAL ARTS (HSPVA) • A new nanobrewery, 160ft BeerworksOwners of Montrose coffee shop Blacksmith, Morning- • The new 21-dock BCycle station, Downtown’s Café Cosmopolita will be opening on the ground star and Greenway Coffee & Tea plan to open Prelude • Bud’s Pitmaster BBQ opened at 1001Coffee Avenida and Tea inside de 609Las Main's lobby. (HBJ) fifteenth location, was installed at the Jury floor of SkyHouse Houston at 1625 Main Street in mid-September.Americas The independent specialty coffee shop Assembly Building located at 1202 Franklin Street with a modern and international theme will serve high Dallas-based restaurant and bar concept by Pat Green quality• Cake espresso Life based Co. drinks,, a local coffee, bakery tea, pastries, that specializesand FreeRange Concepts,in custom The Rustic , will open its first in June 2017 Houston location Downtown at 1836 Polk St., next to the breakfastcakes sandwiches and other beverages. • Uber Technologies Inc. and Cameron Manage- George R. Brown Convention Center. The 25,000-SF Finn• HallThe is setConservatory to open in early 2018 Food at 712 Hall Main inand The Beerrestaurant Garden and bar at is expected1010 to open in the summer ment have named the Esperson Building as a Jones on Main. The 20,000-SF food hall will feature a of 2018 and create more than 200 Houston jobs. (HBJ) designated pickup and dropoff building dozenPrairie chef-driven added food outlets, new a craft food beer and and curated beverage vendors this wine spring—Arte bar, an art deco cocktailPizzeria lounge, from and pastry private chef Kelsey Hawkins; • Construction on the new Downtown campus of spaces. The food hall will serve breakfast, lunch and Mars Bakery, a doughnut and pastry bar; and Noble Rot the High School for the Performing and Visual dinner. (Chronicle, HBJ) Wine Bar, a “boutique wine bar” Arts (HSPVA) has topped out and the new HSPVA High & Dry, a new rum bar set to serve up an “urban campus is on track for completion in the fourth oasis”• LAUNCH will be opening, a oncollaborative the second floor pop-upof 306 Main shop returned Down- Street. (Houston Eater) quarter of 2018 town on April 1, featuring new local designers and artisans • The Lee and Joe Jamail Skatepark at Buffalo Bayou Park has reopened after a $2 million • Stack Burger, a casual restaurant and burger stand is renovation open at 703 St. Joseph Pkwy Downtown Houston Market Report 2Q 2017 4 • The Tipping Point, Downtown’s first and only creative lifestyle destination
±9.86 ACRES IN THE HOUSTON HEIGHTS 15 Uptown District/The Galleria 4.5 miles from the Property
Employment Top Employers Retail & Hospitality • Occupies 500 acres and is the 15th largest business district in the U.S. Apache Corporation • Home to the largest number of couture retailers in the city, including Versace, Yves Saint Laurent, • 26 million total square feet of commercial office space BBVA Compass Bank Giorgio Armani and Bulgari • Class A occupancy rate remains at a steady 90% • 55% of residents within a three-mile radius earn throughout the year Bechtel Corporation over $75,000 annually • Over 16 million square feet of Class A office space • Six million square feet of retail space and more than • 13% of Houston’s total “Class A” office space, second 1,000 stores only to Downtown Houston) BHP Billiton • Hosts over 82,000 employees and 2,000 companies, The Galleria Mall including Fortune 500 companies Apache, Spectra Cambridge Energy Research Associates, Inc. • Three million-square-foot, mixed-used site on 52 Energy, and Marathon Oil acres Clear Channel Communications • Fourth largest retail complex in the United States • Hosts more than 30 million visitors annually, Datacert, Inc. making it the number one shopping and tourist attraction in Houston Goodman Global Group, Inc. • Houston’s most prestigious shopping including stores such as Neiman Marcus, Cartier, Hermes of Hines Paris, Saks Fifth Avenue, Louis Vuitton, Ethan Allen, and Houston’s only Nordstrom Landry’s Hospitality • Over 30 million people visit the District every year LiveNation • 34 hotels with over 7,800 hotel rooms (more full service hotels than any other district in Houston) Marathon Oil FOUR OAKS PLACE - UPTOWN DISTRICT • Highest hotel occupancy rate in Houston • Nearly 10% of Houston’s total hotel rooms S&B Infrastructure, Ltd. New Developments Schlumberger Limited • In 2016 the Galleria opened a new 198,000-square- foot Saks Fifth Avenue Spectra Energy • A high-rise 30-story residential tower is also planned, with 225 hotel rooms and 75 to 10 condo- Stewart Information Services Corporation miniums • Recently added a 180-foot-long retail corridor for Engie (prev. GDF SUEZ) high-end boutiques called “Galleria IV”; most shops opened in the second quarter of 2017 TeleCheck International, Inc.
THE GALLERIA MALL Williams
±9.86 ACRES IN THE HOUSTON HEIGHTS 16 10-10-11
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. Information About Brokerage Services
efore working with a real estate broker, you intermediary. The written consent must state who will should know that the duties of a broker pay the broker and, in conspicuous bold or underlined depend on whom the broker represents. If print, set forth the broker’s obligations as an you are a prospective seller or landlord intermediary. The broker is required to treat each (owner)B or a prospective buyer or tenant (buyer), you party honestly and fairly and to comply with The should know that the broker who lists the property for Texas Real Estate License Act. A broker who acts as sale or lease is the owner’s agent. A broker who acts an intermediary in a transaction: as a subagent represents the owner in cooperation (1) shall treat all parties honestly; with the listing broker. A broker who acts as a buyer’s agent represents the buyer. A broker may act as an (2) may not disclose that the owner will accept a intermediary between the parties if the parties price less that the asking price unless authorized in consent in writing. A broker can assist you in locating writing to do so by the owner; a property, preparing a contract or lease, or obtaining financing without representing you. A broker is (3) may not disclose that the buyer will pay a price greater than the price submitted in a written offer obligated by law to treat you honestly. unless authorized in writing to do so by the buyer; and IF THE BROKER REPRESENTS THE OWNER: (4) may not disclose any confidential information or The broker becomes the owner’s agent by entering any information that a party specifically instructs the into an agreement with the owner, usually through a broker in writing not to disclose unless authorized in written - listing agreement, or by agreeing to act as a writing to disclose the information or required to do so by subagent by accepting an offer of subagency from the The Texas Real Estate License Act or a court order or if listing broker. A subagent may work in a different real the information materially relates to the condition of the estate office. A listing broker or subagent can assist property. the buyer but does not represent the buyer and must place the interests of the owner first. The buyer With the parties’ consent, a broker acting as an should not tell the owner’s agent anything the buyer intermediary between the parties may appoint a person would not want the owner to know because an who is licensed under The Texas Real Estate License owner’s agent must disclose to the owner any Act and associated with the broker to communicate material information known to the agent. with and carry out instructions of one party and another person who is licensed under that Act and IF THE BROKER REPRESENTS THE BUYER: associated with the broker to communicate with and The broker becomes the buyer’s agent by entering carry out instructions of the other party. into an agreement to represent the buyer, usually through a written buyer representation agreement. A If you choose to have a broker represent you, buyer’s agent can assist the owner but does not you should enter into a written agreement with the represent the owner and must place the interests of broker that clearly establishes the broker’s obligations the buyer first. The owner should not tell a buyer’s and your obligations. The agreement should state agent anything the owner would not want the buyer how and by whom the broker will be paid. You have to know because a buyer’s agent must disclose to the the right to choose the type of representation, if any, buyer any material information known to the agent. you wish to receive. Your payment of a fee to a broker does not necessarily establish that the broker IF THE BROKER ACTS AS AN INTERMEDIARY: represents you. If you have any questions regarding A broker may act as an intermediary between the the duties and responsibilities of the broker, you parties if the broker complies with The Texas Real should resolve those questions before proceeding. Estate License Act. The broker must obtain the written consent of each party to the transaction to act as an
Real estate licensee asks that you acknowledge receipt of this information about brokerage services for the licensee’s records.
Buyer, Seller, Landlord or Tenant Date
Texas Real Estate Brokers and Salespersons are licensed and regulated by the Texas Real Estate Commission (TREC). If you have a question or complaint regarding a real estate licensee, you should contact TREC at P.O. Box 12188, Austin, Texas 78711-2188 , 512-936-3000 (http://www.trec.texas.gov) TREC No. OP-K
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