Sales agent Brooks emails a prospective buyer a link to a property listing with detailed information including price, photos, and property description. The buyer responds asking questions about the property's school district and HOA fees. At what point was the IABS triggered?
Correct Answer
A) When Brooks first sent the listing link, because that constituted substantive dialogue
Sending detailed property information (price, photos, description) about a specific property constitutes the beginning of substantive dialogue. The IABS should have been included with or before this initial communication.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
A legal relationship in which one person (the agent) is authorized to act on behalf of another person (the principal) in business transactions with third parties.
More Texas Agency Law Questions
A Texas license holder represents a landlord and is leasing commercial office space. The license holder shows the space to a prospective tenant from a large corporation. The corporate tenant has its own tenant representation broker. Must the landlord's license holder provide the IABS to the tenant?
A Texas license holder provides the IABS form to a buyer at their first meeting. Two weeks later, the buyer contacts the license holder about a different property. Must the license holder provide the IABS again?
A married couple visits an open house together. Sales agent Foster provides the IABS to the wife but not the husband. If both spouses are interested in purchasing the property, has Foster satisfied the IABS requirement?
Agent Parker provides the IABS to Buyer Harris at the first showing. Later, Harris signs a buyer representation agreement with a completely different brokerage firm. When Harris contacts Parker about another property, Parker's firm still has a listing on, must Parker provide the IABS again?
In Texas, a sales agent who is assigned by the intermediary broker to communicate with and carry out instructions of one party in a transaction is known as a(n):
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Under TREC rules, the IABS form must be provided by whom?
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A Texas license holder posts a property listing on social media. A consumer comments on the post asking about the property's price. The license holder responds with the price and additional details. Was the IABS required?