You could use the Registration Agreement Between Broker and Owner (TAR 2401), available exclusively to Texas REALTORS®. This form allows you to register your buyer to cover the purchase of the owner's property during an agreed time period. It also contains language to provide that the owner will pay your negotiated fee should your buyer purchase the property. The agreement doesn't allow you to list the property for sale or require the owner to pay you a fee should the owner sell the property to someone else. This form could be used in situations where the broker is representing a buyer interested in farm and ranch or commercial property that is for-sale-by-owner. It is not intended to take the place of a buyer's representation agreement between a broker and his buyer client.
I represent a buyer who wants to purchase a home that is for-sale-by-owner. The owner tells me he will pay me a fee if he signs a contract with my buyer and that contract closes. Is there a form I can use to secure my fee?
Do I have to report my client's sales price to the MLS? I heard that Texas is a non-disclosure state.
MLS rules state that sales of listed property, including sales prices, shall be reported promptly to the MLS by listing brokers. As such, the Residential Real Estate Listing Agreement, Exclusive Right to Sell (TXR 1101) includes a notice in Paragraph 6(A) that goes over this requirement so that clients are aware of their broker’s obligations. Local MLS rules also control how, if, or when sales prices can be disclosed by brokers or used in advertising.
It is a misconception that the status of Texas as a non-disclosure state means that a listing broker does not have to disclose sales data to the MLS. That is not true. Rather, it means that governmental entities—including local appraisal districts—cannot force anyone to provide the sales price to those entities.