Broker Taylor has a listing with Seller Green and a buyer representation agreement with Buyer White. White wants to purchase Green's property. Taylor obtains intermediary consent but decides NOT to make appointments. What is the practical effect on both clients?
Correct Answer
C) Neither client receives opinions or advice on pricing from any license holder in Taylor's firm
Under Texas Occupations Code §1101.651(d), when a broker acts as an intermediary without making appointments, no license holder in the firm may provide opinions or advice on pricing to either party. Both parties lose the benefit of advisory services on price negotiation.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An agency relationship created when a principal's actions or words lead a third party to reasonably believe that an agent has authority, and the principal fails to correct this belief.
An agency relationship created when a principal approves or accepts an agent's previously unauthorized actions, effectively granting authority after the fact.
The legal requirement for real estate agents to inform all parties about who they represent in a transaction, typically provided at first substantive contact.
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