You guys Juston here again, got another topic to talk about, it’s something that’s. Kind of common. There are niches where there’s agents that are specifically specializing in this technique, and what I’m talking about are rebate’s or they exclusively work with clients and they offer rebates. And I know it’s a bit of a taboo, but, you know, it is a thing. And if you’re with us, we’re going to require you guys to. I get a rebate letter signed and a lot of if you’re working with builders and they’re doing the rebate thing, they usually require two, because like most things, it’s best to get a documentation of the agreement in writing. And that has happened to some of our agents a couple of times where they rebate or they agreed to an amount. And then later on they someone remembers the conversation differently. And now you have a dispute on what the amount supposed to be. Now, a rebate is not the same thing as a key excuse me as a kickback, and I know that gets confused a lot of times, but here this is actually from truck themselves and how they interpret this kind of license holder rebate, a portion of his commission to a seller.

And what about a buyer? So how they see it if you’re a party to the transaction? You are USIE agent, are allowed to contribute a part of your commission and give them part of it.
Now it is there are they do have some special rules around the advertising, because this this rebate is kind of dependent on the listing agent giving their permission in some respects. And that is something if you’re going to advertise that you’re doing rebates, you got to underwrite every every advertisement with that little fine print. But that’s that’s that’s another topic. But rebate letter just kind of set solid that agreement and yeah, if you have any other questions, feel free to reach out.

Hey, guys, this is Juston here want to talk to you about something that we run into from time to time and that’s intermediary agreements, wanted to fill you in on what our policies are around it, which they’re a little bit different than other brokerages. And also how if you find yourself in that situation, how we want you to handle them.

So policy wise, if you’re the only agent in the transaction, we do not want you to be the intermediate. If there is a second agent that’s with Texas ally. That scenario is OK, but not when you’re by yourself. There is a way to handle it, though. If you find yourself in that situation, you would just represent the party that you’re already working with. So typically it’s a listing. You would only represent the seller. So let me walk you through the couple of things that need to be noted.

So specifically, this extra document, either the representation disclosure or this is what we’ve done and we’ve used in the past, is a notice of non representation. Both do the same thing for the most part. Ours is kind of double emphasis where it says you represent one party and then specifically that client in this situation would be the buyer is a customer, not a client.

All right. So let’s go real quick. Only mark yourself as representing one party. Don’t ever market yourself as intermediary and then in the representation disclosure if you haven’t seen it before. Again, it’s just putting it explicitly in writing and then asking them to sign it so that there’s no ambiguity. I know it sounds redundant, but I’m telling you, it saves headaches in the end. And not only that, we require it. If you’re going to find yourself in the situation where you’re the only agent in the transaction. So the most common situation, though, I’ve seen it the other way, the most common situation is you represent the seller. So this will be aimed towards the buyer is coming from you. You put the address in here and then march yourself as either representing the seller or the buyer. And then it’s that simple. Always include that in your documents.

If you have any questions, feel free to reach out to me or my team and we’d be happy to walk you through it. All right, guys, thanks.

Hey, guys, this is Juston here, wanted to talk to you guys real quickly about representation agreement, specifically the buyer representation agreement. I hope you guys already know what this is and establishes the agency relationship between the client and yourself as the agent. It’s a pretty important document. We actually really, really want you guys signing these things. If you’re going to be in our brokerage does a couple of things, honestly protects everybody involved or protects the buyer as it gives legal fiduciary duties assigned to you as the agent, you have a legal obligation to look out for their best interests. And if you don’t live up to that, they have recourse to go after your ass. And I don’t think that gets explained well enough to people that if there’s no agreement involved, they can. And there’s a lot of scandalous agents out there don’t. You want to have fiduciary.
Fiduciary agency established legally and explicitly established, so it protects the client, also obviously protects the agent you want to know, especially if you’re explaining it correctly, that you want to know that you’re there actually working with you. If you’re if you got your business moving correctly and you’re generating a lot of leads, it becomes a really, really good filtering mechanism to find out who’s actually serious and who’s not. And then also downstream, when you’re. And this is probably the worst. The most common situation I’ve seen kind of pop up is. There’s commissions, disputes that happen downstream, so let’s say the one that I see that happens most commonly that I’ve seen is. You find you start working with a client, client says they’re not working with any agent, you find a property, you guys go under contract and either before closes or even after it closes, you get you get a call from another broker or another agent that says, oh, no, I got a buyer’s rep agreement with this with this client.
You’re working on my client. Now, that doesn’t necessarily put you there rep agreements with the client. But if you didn’t get one of those and you go into a commission dispute and you go to an arbitration council. That you are in a very, very, very weak position to argue. For the commission and in the Texas Association Realtors, we’ve done it a couple of times in our brokerage. It doesn’t pan out very well for you if you don’t have that in place. So just as a best practice, you want that in place and you don’t find yourself on the losing end of those types of disputes as often, especially if you’re following all the procedures correctly. So this is the Texas Realtors TARS Partnership Agreement. It’s got the word realtors, but it’s the same thing that TARP provides. I’m not going to go through explaining it all for the most part. Pretty self-explanatory. We also have a version. It’s it’s a one pager. It’s real simple, but it all has the hits, all the highlights. We like it. We like keeping it simple. But yeah, that’s it.

You know, just getting the practice of getting those rep agreements in there. And it’s just if you have any questions, feel free to give me a call. Thanks.