A Texas real estate listing agreement is a contract that outlines the arrangement between a real estate agent and a property seller that authorizes the agent to handle the listing, marketing, and negotiating of the seller’s residential property. The completed document will include the desired purchase price for the property, the term (length) of the agreement, and the agent’s compensation (commission/fees).
Under this contract, the seller also gives the agent permission to show the property to interested buyers and, in most cases, keep a key to the residence in a lockbox on the premises.
TXR-1101 – Residential Real Estate Listing Agreement – The official form for Texas Association of Realtors members to use when entering into listing agreements with residential property sellers.
Brokerage Services Disclosure Form (§ 1101.558) – A document that discloses the types of services that a brokerage offers. Agents are required to have this disclosure signed by potential clients before entering into an agreement for the purchase or sale of property.
TXR-1409 – Intermediary Relationship Notice (§ 1101.559 and § 1101.561) – For a broker to represent the buyer and seller in a real estate transaction, they must act only as an “intermediary” and must obtain informed consent from each party. Furthermore, the agent’s agreements with each party must also permit them to act as an intermediary.
Property Disclosure Statement (§ 5.008 and § 5.080) – Before the sale of a residential property is completed, the seller must fill out a complete inventory of the property and its condition and provide it to the buyer. Furthermore, licensed real estate brokers are legally required to disclose any known property defects to buyers when representing the seller. However, agents are not required to investigate the property for damage and defects themselves.
