CONFIDENTIAL

Offering Memorandum

Wyndhaven in 09
208-209 Victor Street
San Antonio, TX 78209

Chase Davis
Vice President
Phone: 972.465.9533
E-mail: chase.davis@multifamilygrp.com

Paul Yazbeck
Managing Partner
Phone: 972.379.9844
E-mail: paul.yazbeck@multifamilygrp.com

Please do not disturb management or visit

the office without an appointment.
 The Blueprint
Location Overview.........................................4

Property Overview.........................................6

Rent Comparables.........................................21

Financial Overview........................................27

2
 Location
410

281
10
410

Wyndhaven in 09

35 10

1604
San Antonio
410

35

37

North
35

4 5
 Value-Add Opportunities

• Continue Interior Upgrades; Units are Achieving a $75 rent bumps for Upgraded
Appliances, Fixtures and Countertops
• Addition of more Covered Parking could add a competitive edge and provide an
untapped income stream
• Increase Exposure and Marketing Aesthetics with Modern Signage

Highlights

• Opportunity to Enter San Antonio in a Coveted High Occupancy Submarket

• Opportunity to Bring Rents up from a $619 Average to the Comparable Supported
Average of $694

Property Overview • Individually Metered for Electricity & Individual HVAC units (all but 6 units)
• Recent Capital Improvements Indicate Market Rent Premium with Unrealized
Upside
• Passive Geographic Appreciation in Virtue of Sub-Markets Desirable Location

Property Summary
The Multifamily Group is excited to present Wyndhaven in 09 - a 57 unit apartment complex
Price Market
located in the booming Alamo Heights submarket of San Antonio situated in the coveted
Terms Free and Clear
78209 zip code. Located just two blocks from the San Antonio Botanical Gardens and just
Units 57
half a mile from the expansive Brackenridge Park, Wyndhaven is central to what is reputed Year Built 1970/1975
to be the playground of the city. San Antonio added 33,000 jobs in the last 12 months and Net Rentable SF 30,318
is forecasted to exceed the national average again in 2018 for job growth. The property has Average Unit Size 532 SF SF
been partially renovated with new black appliances, countertops, flooring and backsplashes, Average In Place Rent $632
proving that rent bumps can be achieved by giving residents higher quality amenities. This Electricity Resident Pays

is a great value-add opportunity to enter the burgoneing San Antonio market with an asset HVAC Individual Electric - (All but 6)

located in one of the most rapidly appreciating parts of town. Hot Water Individual Electric

7
 Property Details

Price Market Tax Detail

Terms Free and Clear Assessed Value $2,509,730
Address 208-209 Victor ST. City 0.558270
San Antonio ISD 1.532600
Year Built 1970/1975 County 0.291229
Units 57 College 0.149150
Net Rentable SF 30,318 Hospital 0.276235
Average Unit Size 532 SF Other 0.012868
Site Size 1.07 Acres Other 2 0.017290
Density 53.3 Units/Acre Total 2.837642%
Occupancy 96.5%
School Information
Construction School District San Antonio Independent School District
Foundation Slab Elementary Lamar Elementary School
Exterior Stucco and Siding Middle School Twain Middle School
Roof Flat High School Edison High School
Number of Buildings 3
Parking
Mechanical Paving Grade
HVAC Individual Electric - (All but 6) Open Spaces 47
Hot Water Individual Electric Covered Spaces 6
Wiring Copper Handicap Spaces 0
Plumbing Copper, PVC Total Spaces 53

Utilities Leasing Fees

Electricity Resident Pays Application Fee N/A
Water/Sewer Resident Billed Back Administration Fee N/A
Gas Resident Billed Back Security Deposit N/A
Cable/Internet Resident Pays Pet Deposit $50 Deposit, $250 fee
Pet Rent $10
Laundry / Washer and Dryers
Reserved Parking Assigned not charged
Laundry On-Site Facility
Trash Fee N/A
Tax Information Pest Control Fee N/A
Month-to-Month Fee N/A
County Bexar
CAD Account No. 112075 Personnel
Tax Rate 2.837642%
(1) Property Manager
(2) Maintenence
9
 Community Amenities
• Convenient Access to Highway 281, I-35 and Downtown San Antonio
• Covered Parking Available
• On-Site Leasing and Management Office
• Pet Friendly
• Immediate Proximity to Downtown San Antonio
• Local Urban Economy has added 33,100 jobs in last 12 months (Yardi)

Area Amenities
• Less than 1/2 mile from Brackenridge Park - The largest park in the city and named
one of the Most Beautiful Parks in the U.S. by USA Today. Brackenridge Park is also
home to the renowned San Antonio Zoo and Brackenridge Park Golf Course
• Museums - The Witte and McNay Museums are both along scenic Lion's Field Trail
within walking distance of Wyndhaven

Amenities •
•
Broadway's Vibrant Entertainment Scene is only 2 blocks West
San Antonio's expansive Botanical Gardens three blocks North
• Pearl Brewery is 1-mile away - The 22-acre site is home to a Farmers Market and an
extensive retail district

Unit Amenities
• Black Appliances
• Granite Countertops
• Tile Backsplash
• White Cabinets
• Double Stainless Steel Sinks with Disposals
• Electric Range
• Vinyl Wood Plank Flooring in Living Areas
• Laundry On-Site
• Central HVAC - (All but 6 units)
• Two-Tone paint
• New Ceiling Fans

10 11
 Area Attractions

10
1. Brackenridge Park
Largest park in the city and named one of the 281
Most Beautiful Parks in the U.S by USA Today.
3
It is also the site for the world renowned San
Antonio Zoo and Brackenridge Park Golf Course 4
1
2. Downtown San Antonio
Home of the Historic Alamo and Riverwalk this
bustling City Center is more than just a tourist
attaction. Downtown is a great place to work 5 Wyndhaven in 09
boasting an 8.5% Job Growth over the last year -
USAA is planning to add another 3500 jobs locally
San Antonio
A
this year 35
2
3. Alamo Heights
Running along Broadway Street, this area provides
extensive shopping, dining and entertainment. The
historic district has some of the best attractions in
town including The Witte & McNay Museums as well
as the scenic Lions Field Trail

4. Botanical Gardens
37
This 33-acre attraction is located just two blocks from
Wyndhaven and has exhibits with horniculture varieties
ranging from native East Texas to Kyoto, Japan 10
10
5. Pearl Brewery
The 22-acre site is home to San Antonio Farmer's
Market, world class dining, numerous cafes, bars,
and retail
North

12 13
 Additional Photos

14 15
 Unit Mix

Type # Units % of Total Square Feet Effective Rent Market Rent Comp Supported Rent Effective $/SF Market $/SF Supported $/SF

1-1 5 9% 500 $609 $625 $650 $1.22 $1.25 $1.30

1-1 44 77% 516 $615 $640 $675 $1.19 $1.24 $1.31
2-1 7 12% 627 $753 $790 $830 $1.20 $1.26 $1.32
2-1 1 2% 725 $625 $775 $800 $0.86 $1.07 $1.10
Total: 57 100% 30,318 $36,004 $37,590 $39,560
Average: 532 $632 $659 $694
Annual: $363,816 $432,048 $451,080 $474,720

16 17
 Notes

Rent Comparables

18 19
 Rent Comparable Summary

North

t.
yS
wa
Wyndhaven in 09

ad
Bro

N New Braunfels Ave

281 Parker Broadway

The Beverly

Cunningham Ave
Three Thirty Three Place

North
East Azul Botique Apartments

E Grayson St
35

Property Name Address City State Zip Year Built # of Units Occupancy Avg. Size Avg. Rent/Unit Avg. Rent PSF

The Beverly 123 Brackenridge Ave San Antonio TX 78209 1968 136 94% 884 $1,187 $1.34
Parker Broadway 1235 East Mulberry Ave San Antonio TX 78209 1962 94 93% 947 $1,037 $1.10
Three Thirty Three Place 333 Brahan Blvd. San Antonio TX 78215 1967 48 92% 761 $949 $1.25
East Azul Botique 831 E. Grayson San Antonio TX 78209 1968 23 90% 688 $814 $1.18
Averages 1966 75 92% 820 $997 $1.22
Wyndhaven in 09 208-209 Victor ST. San Antonio TX 78209 1970/1975 57 93% 532 $619 $1.16
Variance (288) ($378) ($0.05)

20 21
 This study compares market rents from

Rent Comparison comparable properties to Wyndhaven in

09 effective rents.

One Bedroom Two Bedroom

PROPERTY SIZE RENT R/SF PROPERTY SIZE RENT R/SF
Parker Broadway 500 $825 $1.65 Parker Broadway 1008 $1,078 $1.07

Parker Broadway 617 $797 $1.29 Three Thirty Three 853 $1,059 $1.24
Place
The Beverly 776 $994 $1.28
Three Thirty Three 755 $959 $1.27
East Azul Botique 746 $819 $1.10 Place
Three Thirty Three 694 $859 $1.24 The Beverly 1094 $1,426 $1.30
Place
Average 928 $1,131 $1.22
Average 667 $859 $1.31
Wyndhaven in 09* 627 $753 $1.20
Wyndhaven in 09* 500 $604 $1.21
Variance ($378) ($0.02)
Variance ($255) ($0.10)
Wyndhaven in 09* 725 $745 $1.03
Wyndhaven in 09* 516 $596 $1.16
Variance ($386) ($0.19)
Variance ($263) ($0.16)

23
 Notes

Financial Overview

24 25
T-12 INCOME Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 T-12 TOTAL

Market Rent 38,215 37,540 36,900 36,900 36,900 37,240 37,540 37,339 37,391 39,175 39,475 39,350 $453,965
Less: Loss to Lease/Gain to Lease (2,665) (2,029) (1,831) (1,198) (1,797) (1,485) (1,596) (1,297) (368) (2,513) (986) (1,738) ($19,504)
Gross Potential Rent 35,550 35,511 35,069 35,702 35,103 35,755 35,944 36,042 37,023 36,663 38,489 37,612 $434,461
Vacancy (3,599) (1,772) (2,832) (1,238) (1,453) (2,338) (862) (2,880) (4,356) (2,048) (3,583) (2,735) ($29,695)
Non Revenue 0 0 0 0 0 0 0 0 0 0 0 0 $0
Bad Debt/Concessions (10) (5,440) (1,070) (615) (2,496) 0 (1,701) 0 (2,080) (463) (1,899) (3,878) ($19,652)
Net Rental Income 31,941 28,300 31,167 33,849 31,154 33,416 33,381 33,162 30,587 34,152 33,007 30,999 $385,114
RUB Income 1,386 1,914 1,875 1,798 1,415 1,680 1,833 1,681 1,423 1,501 1,056 1,064 $18,627
Water/Sewer 1,330 1,716 1,742 1,506 1,347 1,612 1,789 1,629 1,371 1,493 1,056 979 $17,571
Trash 35 180 115 25 20 20 5 10 10 5 0 0 $425
Gas/Electric RUB 21 18 18 267 48 48 39 42 42 3 0 85 $631

Other Income 699 2,222 2,284 922 1,620 4,609 2,111 1,589 1,215 1,780 897 2,731 $22,680

GROSS REVENUES 34,026 32,436 35,326 36,569 34,189 39,706 37,325 36,432 33,225 37,433 34,961 34,794 $426,420
T-12 EXPENSES
Contract Services 141 149 141 162 162 141 0 19 141 511 195 0 $1,764
Repairs & Maintenance 386 1,265 331 166 (819) 140 1,278 1,332 671 235 102 1,998 $7,085
Administrative 1,251 1,110 525 1,382 612 558 622 1,828 713 462 1,067 1,080 $11,211
Marketing 182 (275) 0 0 0 0 0 311 110 0 0 115 $443
Payroll 3,133 4,508 5,924 7,961 3,450 4,203 6,535 5,211 5,533 4,260 5,051 10,320 $66,088
Utilities 1,883 2,179 2,283 2,748 279 3,035 2,044 3,042 5,135 3,032 2,764 1,832 $30,257
Electric 216 209 236 960 (1) 160 (13) 349 2,101 758 577 164 $5,715
Water/Sewer 1,379 1,485 1,786 1,262 0 2,562 1,504 1,343 1,650 1,508 1,444 1,412 $17,334
Trash 224 453 224 494 245 269 512 648 548 276 554 174 $4,622
Gas/Other 65 32 36 31 35 46 41 703 836 489 189 82 $2,586
Management Fees 1,814 1,960 1,851 1,942 2,055 1,963 2,134 2,067 1,913 1,962 1,909 1,937 $23,508
Insurance 1,331 1,521 1,521 1,521 1,521 1,521 1,521 1,521 1,521 1,521 1,521 1,521 $18,058
Real Estate Taxes 4,251 4,251 4,251 4,251 4,251 24,457 5,935 5,935 5,935 5,935 5,935 5,935 $81,320

TOTAL EXPENSES 14,372 16,668 16,827 20,133 11,510 36,018 20,068 21,267 21,672 17,917 18,544 24,738 $239,734

26 27
 TRAILING 12 6 MONTHS ANNUALIZED 90 DAY ANNUALIZED IN- 60 DAY ANNUALIZED 30 DAY ANNUALIZED
TRENDING INCOME YEAR 1 UNDERWRITING
MONTHS INCOME COME INCOME INCOME
Market Rent 453,965 7,964 460,540 8,080 472,000 8,281 472,949 8,297 472,199 8,284 473,634 8,309
Less: Loss to Lease (19,504) 4.3% (16,995) 3.7% (20,946) 4.4% (16,345) 3.5% (20,858) 4.4% (19,171) 4.0%
Gross Potential Rent 434,461 7,622 443,544 7,781 451,053 7,913 456,605 8,011 451,341 7,918 454,463 7,973
Vacancy (29,695) 6.8% (32,927) 7.4% (33,462) 7.4% (37,908) 8.3% (32,820) 7.3% (28,418) 6.0%
Non Revenue 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0%
Bad Debt/Concessions (19,652) 4.5% (20,042) 4.5% (24,958) 5.5% (34,659) 7.6% (46,533) 10.3% 10,000 -2.2%
Net Rental Income 385,114 6,756 390,575 6,852 392,633 6,888 384,037 6,737 371,988 6,526 436,045 7,650
RUB Income 18,627 327 17,117 300 14,485 254 12,721 223 12,771 224 18,627 327
Water/Sewer 17,571 308 16,635 292 14,113 248 12,211 214 11,751 206 17,571 308
Trash 425 7 60 1 20 0 0 0 0 0 425 7
Gas/Electric RUB 631 1 422 7 352 6 510 9 1,020 18 631 11
Other Income 22,680 398 23,494 412 23,494 412 23,494 412 23,494 412 22,680 398
GROSS REVENUES 426,420 7,481 431,186 7,565 430,612 7,555 420,253 7,373 408,253 7,162 477,352 8,375
EXPENSES
Contract Services 1,764 31 1,764 31 1,764 31 1,764 31 1,764 31 1,764 31
Repairs & Maintenance 7,085 124 7,085 124 7,085 124 7,085 124 7,085 124 7,085 124
Administration 11,211 197 11,211 197 11,211 197 11,211 197 11,211 197 11,211 197
Marketing 443 8 443 8 443 8 443 8 443 8 443 8
Payroll 66,088 1159 66,088 1,159 66,088 1,159 66,088 1,159 66,088 1,159 66,088 1,159
Utilities 30,257 531 30,257 531 30,257 531 30,257 531 30,257 531 30,257 531
Electric 5,715 100 5,715 100 5,715 100 5,715 100 5,715 100 5,715 100
Water/Sewer 17,334 304 17,334 304 17,334 304 17,334 304 17,334 304 17,334 304
Trash 4,622 81 4,622 81 4,622 81 4,622 81 4,622 81 4,622 81
Gas/Other 2,586 45 2,586 45 2,586 45 2,586 45 2,586 45 2,586 45
Management Fee 23,508 412 23,508 412 23,508 412 23,508 412 23,508 412 16,707 293
Insurance 18,058 317 18,058 317 18,058 317 18,058 317 18,058 317 12,084 212
Taxes 81,320 1427 81,320 1,427 81,320 1,427 81,320 1,427 81,320 1,427 81,724 1,434
TOTAL EXPENSES 239,734 4206 239,734 4206 239,734 4206 239,734 4206 239,734 4206 227,364 3989
Recurring Capital Expenditures 14,250 250 14,250 250 14,250 250 14,250 250 14,250 250 14,250 250

28 29
 5 Year Cash Flow

CASH FLOW ASSUMPTIONS Current YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5

Gross Potential Rent Growth 5.00% 3.0% 3.0% 3.0% 3.0%
Total Economic Loss 15% 7.94% 8% 8% 8% 8%
Other/Utility Reimbursement Income Growth 2% 2% 2% 2%
Operating Expense Growth 2% 2% 2% 2%
Real Estate Tax Growth 2% 2% 2% 2%

INCOME NOTES INCOME FY1/UNIT YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5

Year 1 Rents have been grown at 5% based on comparable properties Gross Potential Rent 8,309 473,634 487,843 502,478 517,553 533,079
Year 1 Underwriting assumes 7.9% economic loss Less: Total Economic Loss (659) (37,589) (39,027) (40,198) (41,404) (42,646)
Economic Occupancy 92% 92% 92% 92% 92% 92%
Net Rent Per Unit $671 $671 $691 $711 $733 $755
Per SF $1.26 $1.26 $1.30 $1.34 $1.38 $1.42
Net Rental Income 7,650 436,045 448,816 462,280 476,148 490,433
Utility Reimbursement Income 337 19,188 19,572 19,963 20,362 20,770
Other Income 412 23,494 23,964 24,443 24,932 25,430
Gross Revenues 8,399 478,727 492,351 506,686 521,443 536,633
Monthly Revenue 3324.492 39,894 41,029 42,224 43,454 44,719
% Increase over previous year 2.85% 2.91% 2.91% 2.91%

EXPENSE NOTES EXPENSES

Contract Services 36 2,047 2,087 2,129 2,172 2,215
R&M is projected at $68 per unit based on current operations Repairs & Maintenance 106 6,038 6,159 6,282 6,408 6,536
Administrative Costs are projected at $205 per unit based on current operations Administrative 202 11,515 11,745 11,980 12,220 12,464
Marketing is projected at $26 per unit based on current operations Marketing 26 1,477 1,507 1,537 1,567 1,599
Payroll is projected at $1,114 per unit based on current operations Payroll 1104 62,910 64,168 65,451 66,760 68,096
Utilities are projected at $473 per unit Utilities 545 31,056 31,677 32,311 32,957 33,616
Management Fees are projected at 4% of Gross Revenue Management Fees 252 14,362 14,649 14,942 15,241 15,546
Insurance is based on an comparable property policy costs of $212 per unit Insurance 212 12,084 12,326 12,572 12,824 13,080
Taxes are $79,170 based on 90% of purchase price of $3,100,000 and the 2017 rate of 2.838% Real Estate Taxes 1389 79,170 80,754 82,369 84,016 85,696
Recurring capital expenditures have been estimated at $250 per Unit Recurring Capital Expenditures 250 14,250 14,250 14,250 14,250 14,250
Total Expenses with Reserves (4,121) (234,908) (239,606) (244,399) (249,287) (254,272)
Net Operating Income 4,278 243,818 252,744 262,288 272,156 282,361

31
 Chase Davis Paul Yazbeck
Vice President Managing Partner
The Multifamily Group The Multifamily Group

Chase began remodeling rental
properties in high school and
developed an understanding of
how to add value and increase
cash flow. In college he managed a
major redevelopment in Austin and
started a management company
with a significant portfolio of Student
Housing.
After graduating from Texas Tech
University he went on to start
his own construction company
completeting hundreds of remodels
and effectively rehabbing buidings
that were deemed lost causes.
At The Multifamily Group Chase
specializes in Tertiary Markets and
uses his extensive knowledge
of underwriting and apartment
rehabilitation to help principals
drive value and achieve desired
returns. Chase looks to add value
in whatever he does through
wise negotiations and unmatched
tenacity, always approaching life
from his personal business moto,
“Striving for Perfection, Producing
Excellence.”
Prior to forming The Multifamily
Group Paul was an Executive Director
in Investment Sales with Sperry
Van Ness (SVN) and finished as the
company’s #7 highest performing
broker out of over 1,100 brokers
worldwide in 2017, the #1 ranked
broker in the Southwest Region, and
the top producer in the office in 2017.
In 2016, Paul was the 3rd ranked
broker in the Southwest Region,
was the 25th highest producing
Broker worldwide, and top producer
in the office in 2016. He qualified
for the company’s Partner’s Circle
recognition in both 2016 and 2017.
throughout the US.
Volunteer Involvement includes Big
Brother Big Sisters (BBBS), American
Corporate Partners, Gen Next, and
Carter Bloodcare.
Paul’s education includes an M.B.A
from the University of Texas at Austin
and a B.B.A in Finance from The
University of Colorado at Boulder
where he attended on a ROTC
scholarship. He was awarded the
Bronze Star Medal for his service in
Iraq during his second deployment
as a Captain in the Army. Between
his two deployments, he spent 27
months in Baghdad from 2003-2008.

Phone: 972.465.9533 2608 Thomas Ave, Suite 6 Phone: 972.379.9844 2608 Thomas Ave, Suite 6
Cell: 806.543.5980 Dallas, TX 75204 Cell: 972.310.1032 Dallas, TX 75204
Fax: 972.957.7662 Fax: 972.957.7662
E-mail: chase.davis@multifamilygrp.com E-mail: paul.yazbeck@multifamlygrp.com

32 33

Disclaimer
Disclaimer
The material contained in this Marketing
Analysis is furnished solely upon the
Property Owner’s request for the purpose
of considering the sale of the property
within and is not to be used for any other
purpose. This information should not,
under any circumstance, be photocopied
or disclosed to any third party without the
written consent of The Multifamily Group or
Property Owner, or used for any purpose
whatsoever other than for the Property
Owner to evaluate the possible purchase of
the Property.
The only party authorized to represent the
Owner in connection with the sale of the
Property are the Multifamily Group Advisors
listed in this proposal, and no other person
is authorized by the Owner to provide any
information or to make any representation
other than contained in this Market Analysis.
If the person receiving these materials
does not choose to pursue a purchase of
the Property, this Market Analysis must be
returned to The Multifamily Group Advisor.
Neither The Multifamily Group Advisor
nor the Owner make any representation
or warranty, express or implied, as to
the accuracy or completeness of the
information contained herein, and nothing
contained herein is or shall be relied upon
as a promise or representation as to the
future condition, operations or financial
performance of the Property. This Market
Analysis may include certain statements
and estimates with respect to the Property
based on certain assumptions. These
assumptions may or may not be proven to
be correct, and there can be no assurance
34
that such results will be achieved. Further,
The Multifamily Group Advisor and the
Owner disclaim any and all liability for
representations or warranties, expressed
or implied, contained in or omitted from
this Market Analysis, or any other written
or oral communication transmitted or made
available to the recipient. The recipient
shall be entitled to rely solely on those
representations and warranties that may be
made to it in any final, fully executed and
delivered Real Estate Purchase Agreement
between it and Owner.
The information contained herein is subject
to change without notice and the recipient
of these materials shall not look to Owner
or The Multifamily Group Advisor nor any of
their officers, employees, representatives,
independent contractors or affiliates, for
the accuracy or completeness thereof.
Recipients of this Market Analysis are
advised and encouraged to conduct their
own comprehensive review and analysis of
the Property.
This Market Analysis is a solicitation of
interest only and is not an offer to sell the
Property. The Owner expressly reserves the
right, at its sole discretion, to reject any or
all expressions of interest to purchase the
Property and expressly reserves the right, at
its sole discretion, to terminate negotiations
with any entity, for any reason, at any time
with or without notice. The Owner shall
have no legal commitment or obligation to
any entity reviewing the Market Analysis or
making an offer to purchase the Property
unless and until the Owner executes and
delivers a signed Real Estate Purchase
Agreement on terms acceptable to Owner,
in Owner’s sole discretion. By submitting
an offer, a prospective purchaser will be deemed material information about the property or
to have acknowledged the foregoing and agreed transaction known by the agent, including
to release the Owner and The Multifamily Group information disclosed to the agent by th e seller or
seller’s agent.
Advisor from any liability with respect thereto.
To the extent Owner or any agent of Owner
AS AGENT FOR BOTH - INTERMEDIARY: To act as
an intermediary between the parties the broker
corresponds with any prospective purchaser, any must first obtain the written agreement of each
prospective purchaser should not rely on any party to the transaction. The written agreement
such correspondence or statements as binding must state who will pay the broker and, in
Owner. Only a fully executed Real Estate Purchase conspicuous bold or underlined print, set forth the
Agreement shall bind the property and each broker's obligations as an intermediary. A broker
who acts as an intermediary:
prospective purchaser proceeds at its own risk.
Must treat all parties to the transaction impartially
Information About Brokerage Services
and fairly;
TYPES OF REAL ESTATE LICENSE HOLDERS:
May, with the parties' written consent, appoint a
A BROKER is responsible for all brokerage
different license holder associated with the broker
activities, including acts performed by sales agents
to each party (owner and
sponsored by the broker.
buyer) to communicate with, provide opinions and
A SALES AGENT must be sponsored by a broker
advice to, and carry out the instructions of each
and works with clients on behalf of the broker.
party to the transaction.
A BROKER’S MINIMUM DUTIES REQUIRED BY
Must not, unless specifically authorized in writing to
LAW (A client is the person or party that the broker
do so by the party, disclose:
represents):
that the owner will accept a price less than the
Put the interests of the client above all others,
written asking price;
including the broker’s own interests;
that the buyer/tenant will pay a price greater than
Inform the client of any material information about
the price submitted in a written offer; and
the property or transaction received by the broker;
any confidential information or any other
Answer the client’s questions and present any offer
information that a party specifically instructs the
to or counter-offer from the client; and
broker in writing not to
Treat all parties to a real estate transaction honestly
disclose, unless required to do so by law.
and fairly.
AS SUBAGENT: A license holder acts as a subagent
A LICENSE HOLDER CAN REPRESENT A PARTY IN
when aiding a buyer in a transaction without an
A REAL ESTATE TRANSACTION:
agreement to represent the buyer. A subagent can
AS AGENT FOR OWNER (SELLER/LANDLORD):
assist the buyer but does not represent the buyer
The broker becomes the property owner's agent
and must place the interests of the owner first. TO
through an agreement with the owner, usually in
AVOID DISPUTES, ALL AGREEMENTS BETWEEN
a written listing to sell or property management
YOU AND A BROKER SHOULD BE IN WRITING
agreement. An owner's agent must perform the
AND CLEARLY ESTABLISH:
broker’s minimum
The broker’s duties and responsibilities to you,
duties above and must inform the owner of
and your obligations under the representation
any material information about the property or
agreement.
transaction known by the agent, including
Who will pay the broker for services provided to
information disclosed to the agent or subagent by
you, when payment will be made and how the
the buyer or buyer’s agent.
payment will be calculated.
AS AGENT FOR BUYER/TENANT: The broker
LICENSE HOLDER CONTACT INFORMATION: This
becomes the buyer/tenant's agent by agreeing
notice is being provided for information purposes. It
to represent the buyer, usually through a written
does not create an obligation for
representation agreement. A buyer's agent must
you to use the broker’s services.
perform the broker’s minimum duties above and
35
must inform the buyer of any
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Dallas, TX 75204