$2,040,000 | 7.66% capimages1.loopnet.com/d2/xmgmbfsq5uf5cw4dtflml1wk... · depends on factors that...
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NET LEASED INVESTMENT GROUP
For Sale - Linda Retail Center2251 Linda Avenue, Odessa, TX 79763
CBCNetLeasedGroup.com
NET LEASED INVESTMENT GROUPLUBBOCK OFFICE4924 S. Loop 289Lubbock, TX 79414806.793.0888
• 7.66% Cap Rate• 92% Occupied• Located adjacent to Wal-Mart• Near H-E-B
• Situated right off Loop 338• Traffic counts exceed 21,000• Located in an Income Tax-Free State
$2,040,000 | 7.66% CAP
Exclusively Offered By: ERIC EBERHARDT, CCIMInvestment Sales [email protected]
BEAU TUCKER, CCIMLand And Investment [email protected]
The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable.However, Coldwell Banker Commercial has not and will not verify any of this information, nor has Coldwell BankerCommercial conducted any investigation regarding these matters. Coldwell Banker Commercial makes no guarantee,warranty or representation whatsoever about the accuracy or completeness of any information provided.
As the Buyer of a single / multi-tenant property, it is the Buyer’s responsibility to independently confirm the accuracyand completeness of all material information before completing any purchase. This Marketing Brochure is not asubstitute for your thorough due diligence investigation of this investment opportunity. Coldwell Banker Commercialexpressly denies any obligation to conduct a due diligence examination of this Property for Buyer.
Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do notrepresent the current or future performance of this property. The value of a single / multi-tenant property to youdepends on factors that should be evaluated by you and your tax, financial and legal advisors.
Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation ofany single / multi-tenant property to determine to your satisfaction the suitability of the property for your needs. Likeall real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors mustrequest and carefully review all legal and financial documents related to the property and tenant. While the tenant’spast performance at this or other locations is an important consideration, it is not a guarantee of future success.Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may beset based on a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area.Returns are not guaranteed; the tenant and any guarantors may fail to pay the lease rent or property taxes, or may failto comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market,economic, environmental or other conditions. Regardless of tenant history and lease guarantees, Buyer is responsiblefor conducting his/her own investigation of all matters affecting the intrinsic value of the property and the value of anylongterm lease, including the likelihood of locating a replacement tenant if the current tenant should default orabandon the property, and the lease terms that Buyer may be able to negotiate with a potential replacement tenantconsidering the location of the property, and Buyer’s legal ability to make alternate use of the property.
By accepting this Marketing Brochure you agree to release Coldwell Banker Commercial and hold it harmless from anykind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this single-tenant property.
Table Of ContentsNET LEASED INVESTMENT GROUP
CBCNetLeasedGroup.com Exclusively Offered By:
CONTENTS
BEAU TUCKER, CCIMLand And Investment [email protected]
ERIC EBERHARDT, CCIMInvestment Sales [email protected]
Coldwell Banker Commercial hereby advises all prospective purchasers of Single/Multi-TenantNet Leased property as follows:
PROPERTY INFORMATION 3
FINANCIAL ANALYSIS 7
LOCATION INFORMATION 13
DEMOGRAPHICS 19
ADVISOR BIOS 22
NET LEASED DISCLAIMER
BEAU TUCKER, CCIMLand And Investment [email protected]
ERIC EBERHARDT, CCIMInvestment Sales [email protected]
SECTION 1:
PROPERTY INFORMATION
Exclusively Offered By: ERIC EBERHARDT, CCIMInvestment Sales [email protected]
BEAU TUCKER, CCIMLand And Investment [email protected]
Executive SummaryNET LEASED INVESTMENT GROUP
ERIC EBERHARDT, CCIMInvestment Sales [email protected]
BEAU TUCKER, CCIMLand And Investment [email protected]
Exclusively Offered By:CBCNetLeasedGroup.com
PROPERTY OVERVIEWThe Net Leased Investment Group for Coldwell Banker Commercial, is pleased to offer for sale Linda RetailCenter in Odessa, Texas. The property is currently 12,250sf with a 2,100sf warehouse storage space that will bedeveloped in 2017 which is included in the sale of the property. The seller will develop and deliver thewarehouse storage space at seller's expense. The property sits in a prime location located near several nationaltenants including Wal-Mart, Gamestop, Pizza Hut, Verizon, Cato, Sprint, and HEB. It is located right off Loop338 which is a main thoroughfare that surrounds the city of Odessa.
www.CBCCapitalAdvisors.comMORE INFORMATION AVAILABLE ONLINE:
MIDLAND/ODESSA LOCATION OVERVIEWMidland, Texas is located midway between Dallas/ Ft. Worth and El Paso on Interstate 20 and 20 minutes fromOdessa; nearly a quarter of a million people reside in the Midland/Odessa metropolitan area. The city serves asthe administrative center for The Permian Basin where about 20 percent of America’s oil and gas reserves arelocated in reservoirs deep beneath the surface. Midland supplies more than 60% of all oil and gas producedin Texas.
Midland International Airport provides non-stop service to five major US cities; Austin, Albuquerque, Dallas,Houston and Las Vegas on Southwest, American Eagle and Continental Express Airlines. Midland InternationalAirport has recently added service to Hobbs and Ruidoso, New Mexico with our newest carrier, New Mexico Air.
Odessa, Texas is a city of 106,102 located in Ector County, midway between Ft. Worth and El Paso , and coversan area of 35.04 square miles situated in the heart of the Permian Basin. The property is located right off Loop338 which is a main thoroughfare that surrounds the city of Odessa. The property sits adjacent to severalnational retailers including Wal-Mart, HEB, Cato, Radioshack, Check N Go, Verizon, and GNC.
PROPERTY SUMMARY
Sale Price: $2,040,000
Cap Rate: 7.66%
NOI: $156,262
Lot Size: 1.52 Acres
Building Size: 14,350 SF
Year Built: 2007
Cross Streets: Linda Ave & W 22nd Street
ERIC EBERHARDT, CCIMInvestment Sales [email protected]
BEAU TUCKER, CCIMLand And Investment [email protected]
Exclusively Offered By:CBCNetLeasedGroup.com
Additional PhotosNET LEASED INVESTMENT GROUP
ERIC EBERHARDT, CCIMInvestment Sales [email protected]
BEAU TUCKER, CCIMLand And Investment [email protected]
Exclusively Offered By:CBCNetLeasedGroup.com
Additional PhotosNET LEASED INVESTMENT GROUP
SECTION 2:
FINANCIAL ANALYSIS
Exclusively Offered By: ERIC EBERHARDT, CCIMInvestment Sales [email protected]
BEAU TUCKER, CCIMLand And Investment [email protected]
ERIC EBERHARDT, CCIMInvestment Sales [email protected]
BEAU TUCKER, CCIMLand And Investment [email protected]
Exclusively Offered By:CBCNetLeasedGroup.com
INVESTMENT OVERVIEW (PROFORMA) LINDA RETAIL CENTER
Value / Price $2,040,000Price per S.F. $142.16CAP Rate (Yr. 1) 7.66%Cash-on-Cash Return % (B/T, Yr. 1) 9.59%
OPERATING DATA (PROFORMA) LINDA RETAIL CENTER
Gross Scheduled Rents (@ 100% Occ.) $178,884plus: Operating Cost Recoveries $34,794less: Vacancy (4% Pro-Forma) -$7,155plus: Other Income $1,362
Gross Income $207,885less: Operating Expenses - $51,623
Net Operating Income $156,262
FINANCING DATA (PROFORMA) LINDA RETAIL CENTER
Value / Price $2,040,000Down Payment Amount ( 25%) $510,000Loan Amount ( 75%) $1,530,000Interest Rate 5.0%Amortization Term 25Debt Service (Annually) $107,331Debt Coverage Ratio (DCR) (Yr.1) 1.46Cash Flow (After Debt Service, B/T, Yr. 1) $48,934Cash-on-Cash Return % (B/T, Yr. 1) 9.59%
Financial SummaryNET LEASED INVESTMENT GROUP
INCOME SUMMARY (PROFORMA) LINDA RETAIL CENTER
GROSS SCHEDULED RENTS (@ 100% OCC.) $178,884plus: Operating Cost Recoveries $34,794less: Vacancy @ (4% Pro-Forma) -$7,155plus: Other Income $1,362
GROSS INCOME (PROFORMA) $207,885
OPERATING DATA (PROFORMA) LINDA RETAIL CENTER
Management $7,606Common Area Utilities $2,703Common Area Maintenance $8,650Property Taxes $21,229Property Insurance $3,662Administrative $1,677Other Expenses $6,096
TOTAL OPERATING EXPENSES $51,623
NET OPERATING INCOME (PROFORMA) LINDA RETAIL CENTER
NET OPERATING INCOME $156,262
ERIC EBERHARDT, CCIMInvestment Sales [email protected]
BEAU TUCKER, CCIMLand And Investment [email protected]
Exclusively Offered By:CBCNetLeasedGroup.com
Income & ExpensesNET LEASED INVESTMENT GROUP
*Buddy's Home Furnishings Warehouse space to be delivered August 1, 2017.* Total Annual Rent at $178,884 is based on the future annual rent as of August 1, 2017.
TENANTNAME
UNITNUMBER
UNITSIZE (SF)
LEASESTART
LEASEEND
ANNUALRENT
% OFGLA
PRICEPER SF/YR OPTIONS TO RENEW
Domino's 2251 1,832 09/01/2011 08/31/2018 $31,240 12.77 $17.05 One -(5) year optionat negotiable rate
Buddy's Home Furnishings 2261 5,326 03/01/2016 07/31/2022 $58,586 37.11 $11.00 One -(3) year optionat $11.00/sf
Vacant 2271 1,120 TBD TBD $16,800 7.8 $15.00
Pro Cuts 2275 1,505 11/01/2008 10/31/2018 $24,833 10.49 $16.50 One-(5) year optionat $18.15/sf
Jalisco's 2281 2,467 04/01/2008 03/31/2018 $30,625 17.19 $12.41 No Options
Buddy's Home Furnishings Storage (under construction) 2261 2,100 08/01/2017 07/31/2022 $16,800 14.63 $8.00
Totals/Averages 14,350 $178,884 $12.47
*Buddy's Home Furnishings Warehouse space to be delivered August 1, 2017
* Total Annual Rent at $178,884 is based on the future annual rent as of August 1, 2017.
*Regarding Buddy's Home Furnishings and Liberty Tax - Tenant is responsible for the first $250/unit/year for the HVAC systems, electrical, & plumbing systems for normal wear & tear and 100% formisuse. If units need to be replaced, Landlord will replace them and warrant them for a six month period for normal wear & tear. After such time Tenant will be solely responsible for the repair orreplacement of the systems.
*Domino's has a 10% cap on CAM
*Pro-Cuts has a 5% cap on CAM exclusive of Taxes, Insurance, and Utilities
*Buddy's Storage will be modified gross
ERIC EBERHARDT, CCIMInvestment Sales [email protected]
BEAU TUCKER, CCIMLand And Investment [email protected]
Exclusively Offered By:CBCNetLeasedGroup.com
Rent RollNET LEASED INVESTMENT GROUP
ERIC EBERHARDT, CCIMInvestment Sales [email protected]
BEAU TUCKER, CCIMLand And Investment [email protected]
Exclusively Offered By:CBCNetLeasedGroup.com
• Publicly Traded (NYSE : DPZ)
• Over 12,500 locations
• Founded in 1960
• Corporate Headquarters - Ann Arbor,Michigan
Tenant ProfileNET LEASED INVESTMENT GROUP
Domino'sDomino's is an American pizza restaurant chain and international franchise pizza delivery corporation headquartered in AnnArbor Charter Township, Michigan. Domino’s operates more than 12,900 pizza restaurants in 80 countries and delivers morethan 1 million pizzas each day and is the second largest franchised pizza chain behind Pizza Hut.
In 2004, after 44 years as a privately held company, Domino's began trading common stock on the New York StockExchange under the ticker symbol "DPZ".
Domino's is 97% franchise-owned and has about 840 independent franchise owners in the United States. Domino's deliveryexperts cover 10 million miles each week in the United States alone. Domino's delivers more than 1 million pizzas a dayworldwide. As of 2nd Quarter 2016, Domino's operates 12,900 stores in more than 80 countries around the world. They havemore than 260,000 employees worldwide. In 2014, Domino's had over $8.9 billion in global retail sales and has experiencedpositive same store sales growth for the past 22 consecutive years.
TENANT HIGHLIGHTS
ERIC EBERHARDT, CCIMInvestment Sales [email protected]
BEAU TUCKER, CCIMLand And Investment [email protected]
Exclusively Offered By:CBCNetLeasedGroup.com
Tenant ProfilesNET LEASED INVESTMENT GROUP
Buddy's Home Furnishing's
Pro-Cuts
Jalisco's Mexican Restaurant
Buddy’s Home Furnishings was founded in 1961 by Mr. Norman Slatton, Sr. He had a dream to serve the demands of the growingTampa Bay area. Today, Buddy’s is the largest independent “Rent to Own” dealer in the country with 270+ locations nationwide.They sell home furniture, electronics, computers, and variety of appliances.
Pro-Cuts is a division of Regis Corporation. ProCuts offers men's haircuts with a great experience. At ProCuts, while you get ahaircut, you can watch TV, as there is a TV at every station. Regis Corporation is a publicly traded company based in Minnesota thatwas founded in 1922 and employs over 50,000 stylists. Regis Corp. has over 10,000 combined locations with it's subsidiaries andcombined for over $1.8B in sales in 2015.
Jalisco's is a local mexican restaurant in Odessa, TX. Jalisco's has three different locations in Odessa and serves a wide variety ofmexican dishes.
SECTION 3:
LOCATION INFORMATION
Exclusively Offered By: ERIC EBERHARDT, CCIMInvestment Sales [email protected]
BEAU TUCKER, CCIMLand And Investment [email protected]
ERIC EBERHARDT, CCIMInvestment Sales [email protected]
BEAU TUCKER, CCIMLand And Investment [email protected]
Exclusively Offered By:CBCNetLeasedGroup.com
ODESSA, TXOdessa, Texas is a city of 106,102 located in Ector County, midway between Ft. Worth and El Paso , and coversan area of 35.04 square miles situated in the heart of the Permian Basin. The Permian Basin is approximately250 miles wide and 300 miles long where about 20 percent of America’s oil and gas reserves are located inreservoirs deep beneath the surface.
Odessa provides direct links to IH-20 and U.S. Highway 385, and situated approximately 10 miles east ofOdessa is Midland International Airport; nearly a quarter of a million people reside in the Midland/Odessametropolitan area. Midland International Airport provides non-stop service to five major US cities; Austin,Albuquerque, Dallas, Houston and Las Vegas on Southwest, American Eagle and Continental Express Airlines.Midland International Airport has recently added service to Hobbs and Ruidoso, New Mexico with their newestcarrier, New Mexico Air.
Odessa is alive and thriving; although oil and gas still remain the largest industry, the city has begun todiversify. Odessa is quickly being recognized as a major health industry hub with three hospitals, a cancercenter and several medical specialists in the area. The city is also home to 3 institutions of higher learningincluding Odessa College with a student enrollment of over 11,000 annually and the University of Texas of thePermian Basin with a student population over 5,000.
With a low cost-of-living, a wonderful quality of life and great climate, Odessa is a great place to build a career.The city is also well known for its hospitality, and people with deep appreciation of colorful past andenthusiasm for a future rich with possibilities.
Odessa, TXNET LEASED INVESTMENT GROUP
ERIC EBERHARDT, CCIMInvestment Sales [email protected]
BEAU TUCKER, CCIMLand And Investment [email protected]
Exclusively Offered By:CBCNetLeasedGroup.com
2251 Linda Avenue
Regional MapNET LEASED INVESTMENT GROUP
ERIC EBERHARDT, CCIMInvestment Sales [email protected]
BEAU TUCKER, CCIMLand And Investment [email protected]
Exclusively Offered By:CBCNetLeasedGroup.com
Property AerialNET LEASED INVESTMENT GROUP
ERIC EBERHARDT, CCIMInvestment Sales [email protected]
BEAU TUCKER, CCIMLand And Investment [email protected]
Exclusively Offered By:CBCNetLeasedGroup.com
Property AerialNET LEASED INVESTMENT GROUP
ERIC EBERHARDT, CCIMInvestment Sales [email protected]
BEAU TUCKER, CCIMLand And Investment [email protected]
Exclusively Offered By:CBCNetLeasedGroup.com
Site PlanNET LEASED INVESTMENT GROUP
SECTION 4:
DEMOGRAPHICS
Exclusively Offered By: ERIC EBERHARDT, CCIMInvestment Sales [email protected]
BEAU TUCKER, CCIMLand And Investment [email protected]
Demographics ReportNET LEASED INVESTMENT GROUP
ERIC EBERHARDT, CCIMInvestment Sales [email protected]
BEAU TUCKER, CCIMLand And Investment [email protected]
Exclusively Offered By:CBCNetLeasedGroup.com
1 MILE 3 MILES 5 MILESTotal households 2,659 16,400 35,025
Total persons per hh 2.9 2.8 2.8
Average hh income $59,031 $49,597 $52,766
Average house value $70,732 $73,631 $85,491
1 MILE 3 MILES 5 MILESTotal population 7,604 46,678 99,804
Median age 31.9 30.8 30.9
Median age (male) 30.4 30.0 29.5
Median age (female) 32.5 30.7 31.7
ERIC EBERHARDT, CCIMInvestment Sales [email protected]
BEAU TUCKER, CCIMLand And Investment [email protected]
Exclusively Offered By:CBCNetLeasedGroup.com
Demographics MapNET LEASED INVESTMENT GROUP
1 Mile 3 Miles 5 Miles
Total Population 7,604 46,678 99,804Population Density 2,420 1,651 1,271Median Age 31.9 30.8 30.9Median Age (Male) 30.4 30.0 29.5Median Age (Female) 32.5 30.7 31.7Total Households 2,659 16,400 35,025# of Persons Per HH 2.9 2.8 2.8Average HH Income $59,031 $49,597 $52,766Average House Value $70,732 $73,631 $85,491
SECTION 5:
ADVISOR BIOS
Exclusively Offered By: ERIC EBERHARDT, CCIMInvestment Sales [email protected]
BEAU TUCKER, CCIMLand And Investment [email protected]
T 806.784.3298C [email protected]
ERIC EBERHARDT, CCIMInvestment Sales [email protected]
BEAU TUCKER, CCIMLand And Investment [email protected]
Exclusively Offered By:CBCNetLeasedGroup.com
Land And Investment Specialist
Beau Tucker is a Certified Commercial Investment Member (CCIM) that specializes in all aspects of NNN Investment, build-to-suit and land sales.Beau represents a diverse body of tenants, developers and investors in a wide range of commercial retail, office, and mixed-use acquisitions anddispositions. Beau is a leading broker of shopping centers, net leased investment services and has become the #1 Land Brokerage in West Texas.Beau Tucker is a member of the International Council of Shopping Centers (ICSC) and a RECON attendee. Member of Urban Land Institute (ULI).Maintains a database of over 5,000 investors. Responsible for over $120,000,000 in land & investment inventory.
NNN Investment, Build-to-Suit and Land Sales
• #4 Coldwell Banker Commercial agent in United States - 2016• #6 Coldwell Banker Commercial agent in United States - 2015• #3 Coldwell Banker Commercial agent in United States - 2014• #5 Coldwell Banker Commercial agent in United States - 2013• #1 Coldwell Banker Commercial agent in Texas - 2016• #1 Coldwell Banker Commercial agent in Texas - 2015• #1 Coldwell Banker Commercial agent in Texas - 2014• #2 Coldwell Banker Commercial agent in Texas - 2013• #1 Coldwell Banker Commercial agent in Texas - 2012• Top %1 of all Coldwell Banker Commercial Affiliates internationally 2010-2016• Top Producer, Premier Circle of Distinction 2012 - 2016• Top Producer, 2011 Silver Circle of Distinction• Top Producer, 2010 Bronze Circle of Distinction• 2010 CBC Mentor/Protégé of the Year• Designated “CCIM” (Certifified Commercial Investment Member) by CCIM Institute - 2011• Graduate of Emerging Broker Training, 2010 Coldwell Banker Commercial
• Joined Coldwell Banker Commercial, Rick Canup Realtors, in May 2008 as a land, build-to-suit and investment specialist• Currently maintains over $120,000,000 in land and investment inventory• Represents more than 1,600 investors• Maintains an inventory of over 200 West Texas properties• Experienced in site selection, site disposition, build-to-suit marketing for land developers, and 1031 exchanges
• Chuy’s Mexican Food • Raising Cane's • Burger King • Popeye’s • Panda Express • Potbelly • Freddy’s • Sonic • Gatti’s Pizza • Dion’s Pizza • TacoVilla • Twisted Root Burger Co. • IHOP • Comet Cleaners • Caddis Development • Asset Plus • Subway • 7-Eleven • Stripes • Walgreens • CVS/pharmacy • Family Dollar • United Market Street • H-E-B • Zach’s Club • Hastings • Holiday Inn Express • Virginia College • Battery Joe • Kwik Kar• Mighty Wash • Monsanto • Chick-fil-A • Case & Associates • The NRP Group, LLC • Peoples Bank • 7B Building & Development • Edge Homes• George McMahan Development, LLC • CMS Properties • Realty Link • The Spectra Group, Inc. • Hunt Properties • Landmark Properties • KinProperties • Campus Crest • Leon Capital Group • Prosperity Bank • Walk-On's
WEST TEXAS TEAM
PRIMARY SPECIALTIES
AFFILIATIONS & AWARDS
REAL ESTATE EXPERIENCE
Notable Clients
BEAU TUCKER, CCIM
Advisor Bio | Beau TuckerNET LEASED INVESTMENT GROUP
ERIC EBERHARDT, CCIMInvestment Sales [email protected]
BEAU TUCKER, CCIMLand And Investment [email protected]
Exclusively Offered By:CBCNetLeasedGroup.com
T 806.784.3239C 806.438.3888F [email protected] #617046
Investment Sales SpecialistERIC EBERHARDT, CCIM
Advisor Bio | Eric EberhardtNET LEASED INVESTMENT GROUP
• Joined Coldwell Banker Commercial Rick Canup, Realtors in January 2012 as a Retail & Investment Sales specialist.• Responsible for maintaining a database of over 1,400 retail properties, 1,800 retail• Licensed by the Texas Real Estate Commission
• Texas Tech University - Rawls College of Business, Lubbock, Texas• Bachelors of Business Administration in Marketing - December 2011
• Commercial Retail Brokerage & Leasing• Shopping Center & Single Tenant Net Leased Asset Sales
• Certified Commercial Investment Member (CCIM)• Member of (ICSC) International Council of Shopping Centers• Member, Young Professionals of Greater Lubbock• Member, Lubbock Association of Realtors• Member, National Association of Realtors.• #1 Coldwell Banker Commercial office in Texas for 2010, 2011, 2012, 2013, and 2014• #5 Coldwell Banker Commercial office nationally in 2012• #7 Coldwell Banker Commercial office nationally in 2013• #6 Coldwell Banker Commercial office nationally in 2014
• EdR Collegiate Housing• Realty Income• Lubbock Commercial Buildings• Spirit Realty Capital• Old Chicago• N3 Real Estate• Potbelly Sandwich Shop
REAL ESTATE EXPERIENCE
EDUCATION
PRIMARY SPECIALTY
AFFILIATIONS & AWARDS
NOTABLE CLIENTS
NET LEASED INVESTMENT GROUPLUBBOCK OFFICE4924 S. Loop 289Lubbock, TX 79414806.793.0888
Exclusively Offered By: ERIC EBERHARDT, CCIMInvestment Sales [email protected]
BEAU TUCKER, CCIMLand And Investment [email protected]
CBCNetLeasedGroup.com
NET LEASED INVESTMENT GROUP
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For Sale - Linda Retail Center2251 Linda Avenue, Odessa, TX 79763
11-2-2015
Information About Brokerage ServicesTexas law requires all real estate license holders to give the following informa on about
brokerage services to prospec ve buyers, tenants, sellers and landlords.
TYPES OF REAL ESTATE LICENSE HOLDERS: .• A BROKER is responsible for all brokerage ac vi es, including acts performed by sales agents sponsored by the broker. • A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker.
A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents): • Put the interests of the client above all others, including the broker’s own interests; • Inform the client of any material informa on about the property or transac on received by the broker; • Answer the client’s ques ons and present any o er to or counter-o er from the client; and • Treat all par es to a real estate transac on honestly and fairly.
A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION:
AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner's agent through an agreement with the owner, usually in a wri en lis ng to sell or property management agreement. An owner's agent must perform the broker’s minimum du es above and must inform the owner of any material informa on about the property or transac on known by the agent, including informa on disclosed to the agent or subagent by the buyer or buyer’s agent.
AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant's agent by agreeing to represent the buyer, usually through a wri en representa on agreement. A buyer's agent must perform the broker’s minimum du es above and must inform the buyer of any material informa on about the property or transac on known by the agent, including informa on disclosed to the agent by the seller or seller’s agent.
AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the par es the broker must rst obtain the wri en agreement of each party to the transac on. The wri en agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker's obliga ons as an intermediary. A broker who acts as an intermediary:
• Must treat all par es to the transac on impar ally and fairly; • May, with the par es' wri en consent, appoint a di erent license holder associated with the broker to each party (owner and
buyer) to communicate with, provide opinions and advice to, and carry out the instruc ons of each party to the transac on. • Must not, unless speci cally authorized in wri ng to do so by the party, disclose:
that the owner will accept a price less than the wri en asking price; that the buyer/tenant will pay a price greater than the price submi ed in a wri en o er; and any con den al informa on or any other informa on that a party speci cally instructs the broker in wri ng not to disclose, unless required to do so by law.
AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transac on without an agreement to represent the buyer. A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner rst.
TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH: • The broker’s du es and responsibili es to you, and your obliga ons under the representa on agreement. • Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated.
LICENSE HOLDER CONTACT INFORMATION: This no ce is being provided for informa on purposes. It does not create an obliga on for you to use the broker’s services. Please acknowledge receipt of this no ce below and retain a copy for your records.
Licensed Broker /Broker Firm Name or Primary Assumed Business Name
License No. Email Phone
Designated Broker of Firm License No. Email Phone
Licensed Supervisor of Sales Agent/Associate
License No. Email Phone
Sales Agent/Associate’s Name License No. Email Phone
Regulated by the Texas Real Estate Commission
Buyer/Tenant/Seller/Landlord Initials
Informa on available at www.trec.texas.gov IABS 1-0
Date
Coldwell Banker Commercial 431370 TX [email protected] 806-793-0888
806-793-0888
806-793-0888
806-784-3239
191550 TX
191550 TX
617046 TX
Rick Canup
Rick Canup
Eric Eberhardt