Yes, yes. See the answer to the question of intermediary functions. Section 1101.559 (a) requires the Mediator to obtain the written agreement of both parties to mediate. A written listing agreement to represent a seller/lessor or a written agreement representing the buyer/tenant, the broker`s authorization to act as an intermediary between the parties is sufficient for the purposes of Section 1101.559 (b) if the agreement defines, under appropriate or stressed pressure, the conduct prohibited by Section 1101.651 (d) and indicates who pays the broker. If the mediator is to appoint associate licensees to cooperate with the parties, the mediator must obtain written authorization from both parties and notify each party of the appointments in writing. The mediator is also required to treat the parties fairly and honestly and to respect TRELA. The mediator is prohibited from acting in such a way as to favour one party over the other and cannot disclose the confidential information he has received from a party without the written instructions of that party, unless the disclosure of that information is required by TRELA, the court order or information that essentially relates to the state of the property. It is forbidden for the intermediary and all associate licensees designated through the intermediary to disclose, without written authorization, that the seller accepts a price below the price or that the buyer pays a price above the price indicated in a written offer. Can the same seller be appointed through to cooperate with both parties in the same case? Brokers are responsible for the actions of their sellers as part of TRELA. Opinions on real estate values may be different and are not, however, an indication of an error or error on the part of the seller. If a seller commits a mistake or error, the sponsorship is responsible to the public and TREC in accordance with TRELA Section 1101.803. What is the difference between a designated licensee working with a party and a licensee linked to the intermediary who is not supposed to cooperate with a party? In the absence of the appointed licensees, can the mediation broker actually negotiate an offer to purchase between the parties? Our corporate policy requires all buyers and sellers to accept intermediate practice before collaborating with them.
Does the law allow a brokerage contract to simply specify this practice? Does the identity of each party have to be disclosed to the other party before an intermediary transaction can take place? First, the broker, in determining the company`s policy. If the broker does not want to act as an intermediary, there is no need for the broker to do so. If the broker`s policy is to provide services as intermediaries, both parties must authorize the broker in writing before the broker can act as an intermediary or appoint licensees to cooperate with each of the parties. If the listing contract or buyer`s representation agreement has been concluded but there is no interim status yet, the broker (or seller) can give general advice to the parties on these issues. Once the intermediary status has been created, the broker is not allowed to express opinions or give advice during negotiations. Information on matters that do not constitute an opinion or advice may be forwarded to a client`s question. For example, the intermediary could tell the buyer what the prevailing interest rate is without giving advice or advice. The seller`s question about the amount of serious money could be resolved by a factual assertion that, based on the broker`s experience, the amount of serious money normally collected in transactions depends on the amount of the sale price and could give examples of these figures. If the buyer asks what amount should be proposed, the intermediary could respond with another statement of fact that, based on the broker`s experience, these offers are generally accepted by the seller at list price.