KYLE CROSSING

SWC OF IH-35 AND FM 1626 KYLE, TX

THOMAS TYNG

KYLE CROSSING

TABLE OF CONTENTS

The information contained was obtained from sources believed reliable, However, REATA Real Estate Services, LP, makes no guarantees, warranties or representations as to the completeness or accuracy thereof. The presentation of this project is submitted subject to the errors, omissions and change of price or conditions prior to lease or withdrawal.

SECTION I.. ... ... ... ... ... ... ... ... EXECUTIVE SUMMARY

SECTION II. ... ... ... ... ... ... ... ... MAP

SECTION III ... ... ... ... ... ... ... ... AERIALS

SECTION IV... ... ... ... ... ... ... ... RESIDENTIAL LOT MAP

SECTION V ... ... ... ... ... ... ... ... SITE PLANS

SECTION VI... ... ... ... ... ... ... ... FLOOR PLAN / ELEVATION

SECTION VII.. ... ... ... ... ... ... ... KYLE HIGHLIGHTS

SECTION VIII . ... ... ... ... ... ... ... DEMOGRAPHICS

SECTION IX ... ... ... ... ... ... ... ... AGENCY DISCLOSURE

©REATA REAL ESTATE SERVICES, LP

KYLE CROSSING

EXECUTIVE SUMMARY

SECTION I

PROPERTY HIGHLIGHTS Kyle Crossing boasts powerful anchors, including Target and Kohl’s, and is well positioned to draw traffic from surrounding retailers including Walmart Supercenter, Home Depot and Lowes. The center is also centered in an area experiencing extraordinary growth — 262.7% within a mile in the past decade.

LOCATION SWC of IH-35 and FM 1626 Kyle, TX 78640

GLA 329,107 SF (approximate)

SIZES AVAILABLE Retail 1 2,114 SF Retail 8 1,866 SF

TRIPLE NET CHARGES CAM $3.15 PSF Taxes $2.84 PSF Insurance $0.30 PSF TOTAL $6.29 PSF

KEY TENANTS Target, Kohl’s, Petco, Ross Dress for Less and Dollar Tree

AREA RETAILERS Walmart Supercenter, H-E-B Plus!, Home Depot and Lowes

TRAFFIC COUNTS IH 35 126,680 CPD FM 1626 22,147 CPD

CONTACT THOMAS TYNG PARTNER 210.841.3222 ttyng@reatares.com

DEMOGRAPHICS 1 Mile 3 Miles 5 Miles

2019 Projected Population 4,897 42,165 67,256

2014 Population 3,982 34,292 54,735

2000—2014 Growth 29.6% 21.7% 17.3%

2014 Average HH Income $77,404 $77,253 $77,123

KYLE CROSSING

MAP

SECTION II

KYLE , TX

KYLE CROSSING

KYLE CROSSING

KYLE CROSSING

CITY LIGHTS DR

FM1626

SECTION III

AERIALS

KYLE CROSSING

CITY LIGHTS DR

OLD BRIDGE TRAIL

FM1626

FM1626

SECTION III

AERIALS

KYLE CROSSING

OLD BRID

GE TRAIL

FM1626

SECTION III

AERIALS

KYLE CROSSING

PHYSICIAN’S WAY

CITY LIGHTS DRMARKETPLACE AVE

KYLE CENTRE DR

MARKETPLACE AVE

KYLE PARKWAY

FM1626

SECTION III

AERIALS

KYLE CROSSING

RESIDENTIAL LOT MAP

SECTION IV

MOUNTAIN

CITY

KYLE ETJ

SAN MARCOS

KYLE ETJ

UHLAND

E RR 150

GOFORTH

RD

WINDY HILL RDS

FM 1

626

KOHLERS XING

REBEL D

R

CENTER ST

ROLAND LN

LEHMAN R

D

BUNTON LN

W RR 150 FM 2

770

BEBEE RD

KYLE PKWY

IH 3

5

§̈¦35

BUDA

0 0.5 1 1.5 20.25

Miles

²

ResidentialSubdivisions

Hometown SilveradoSpringBranch

Plum Creek

Trails

Prairie onthe Creek

SteeplechaseSouthlake

Ranch

KensingtonTrails

AmberwoodIndian

Paintbrush

PAC/ARC

FourSeasons

FarmsBro

okside

Post Oak

Quail Ridge

Woodlands

WaterleafSunset

Ridge

Bunton Cree

k

Kyle

Mar

ketp

lace

Plum Creek

TenorioAddition

Bradfo

rdMea

dows

Seton

Aztec/O

ak

Hills M

HP

BluebonnetEstates MHP

Kyle Heights

Total Number of Houses = 10,225(as of Decemeber 31, 2013)

OriginalDowntown

JoseAddn

Subdivision NameNumber of

Houses 2013 Amberwood 619Aztec/Oak HIlls MHP 152Bluebonnet MHP 111Bradford Meadows 72Brookside 140Bunton Creek 124Four Seasons Farm 307Hometown Kyle 726Indian Paintbrush 253Jose Addition 61Kensington Trails 504Kyle Heights 23Meadows at Kyle 17Old Downtown 497Plum Creek 1699Plum Creek MHP 140Post Oak 534Prairie on the Creek 330Quail Ridge 160Silverado 425Southlake Ranch 359Springbranch 557Steeplechase 746Sunset Ridge 170Tenorio Addition 71Trails 386Waterleaf 840Woodlands 202

Meadowsat Kyle

GreenPastures

ShadowCreek

Pecan Woods(Future

Development)

Creeksid

e at

Bunton Cree

k

(Future

Develo

pmen

t)

KYLE CROSSING SECTION V

SITE PLANS

File Name:

Drawn By:

3300 Enterprise Parkway, Beachwood, OH 44122Fax 216 . 755 . 1500 Phone 216 . 755 . 5500

DDR Corp.

THIS DRAWING IS FOR GENERAL INFORMATION PURPOSES ONLY. ANY AND ALL FEATURES, MATTERS AND OTHER INFORMATION DEPICTED HEREON OR CONTAINED HEREIN ARE FOR ILLUSTRATIVE MARKETING PURPOSES ONLY,ARE SUBJECT TO MODIFICATION WITHOUT NOTICE, ARE NOT INTENDED TO BE RELIED UPON BY ANY PART AND ARE NOT INTENDED TO CONSTITUTE REPRESENTATIONS OR WARRANTIES AS TO OWNERSHIP OF THE REAL PROPERTYDEPICTED HEREON, THE SIZE AND NATURE OF IMPROVEMENTS TO BE CONSTRUCTED (OR THAT ANY IMPROVEMENTS WILL BE CONSTRUCTED) OR THE IDENTITY OR NATURE OF ANY OCCUPANTS THEREOF.

D I S C L A I M E R

Ret

ail 1

–19,

785

SF

9-120

9-110

SUITE TENANT SF DOLLAR TREE 9,501 PETCO 13,488 ROSS DRESS FOR LESS 25,000

1-1 DELUXE NAIL SALON 2,1431-2 RADIO SHACK 2,4001-3 SALLY BEAUTY SUPPLY 1,5001-4 GENERAL NUTRITION CENTER 1,5001-5 AVAILABLE 2,1141-6 TRUDY’S HALLMARK 3,7501-7 RACK ROOM SHOES 5,549

7-1 CHILL OUT YOGURT 1,4007-2 SETON FAMILY OF HOSPITALS 15,4037-3 BRIGHT NOW! DENTAL 3,000

8-1 MATTRESS PRO 3,5008-2 SUPERCUTS 1,2008-3 VISION SOURCE 2,6428-4 SYLVAN LEARNING CENTER 1,8008-5A H&R BLOCK 1,8648-5B AVAILABLE 1,8668-6 LITTLE CAESAR’S 1,4008-7 GAMESTOP 1,500

TARGET 127,431 KOHL’S 87,059

9-100 MATTRESS FIRM 4,0849-110 WB LIQUORS & WINE 2,3569-120 MOD PIZZA 3,2049-130 VERIZON WIRELESS 3,3509-140 JERSEY MIKE’S SUBS 2,1299-150 MAMA FU’S ASIAN HOUSE9-160 FIVE GUYS BURGERS & FRIES 2,590

2 UNITED HERITAGE CREDIT UNION 5,0003 JACK IN THE BOX 2,7566 BANK OF AMERICA 5,0008 PANDA EXPRESS 2,7379 CHICK-FIL-A 4,28810 MCDONALD’S 5,06611 APPLEBEE’S 5,00012 IHOP 4,67613 GREATER TEXAS FEDERAL CREDIT UNION 5,00014 CHICKEN EXPRESS 3,254

OUTPARCEL INDEX15 AVAILABLE 1.39 AC16 AVAILABLE 1.39 AC17 AVAILABLE 1.42 AC21 AVAILABLE 1.39 AC22 AVAILABLE 2.61 AC23 AVAILABLE 1.39 AC25 AVAILABLE 19.5 AC

Ret

ail 7

–19,

803

SF

b a

KYLE CROSSING SECTION V

SITE PLANS

KYLE CROSSING SECTION VI

Deluxe Nails: 2,143 sf Radio Shack: 2,400 sf Sally Beauty: 1,500 sf

15'-0"24'-0"21'-5 3/16"

STRUCTURAL STEEL COLUMN, REFER TOSTRUCTURAL ENGINEERING DRAWINGSFOR SIZE AND REQUIREMENTS, TYPICAL

26'-0

"32

'-0"

34'-0

"

100'

-0" (

TYP

ICA

L LE

ASE

DEP

TH )

245

A

B

C

D

ALL TENANTS SHALL SUBMIT TENANTIMPROVEMENT PLANS TO ADACONSULTING GROUP, INC. FOR TDLRPLAN REVIEW AND POST CONSTRUCTIONAUDIT. CONTACT INFORMATION ASFOLLOWS: DONALD OROIAN 12150 VALLIANT, SUITE B SAN ANTONIO, TEXAS 78216 PHONE: 210.340.5670

SHADED AREA INDICATES THE PORTIONOF THE PANEL POUR BACK TO REMAINFREE OF CONCRETE. CONCRETE SHALLBE PLACED BY FUTURE TENANTS AFTERCONNECTION TO SANITARY SEWER ASPART OF TENANT IMPROVEMENT WORK

4'-0"PLACE 4'-0" TRAFFIC STRIP CENTERED ATEACH DOOR OPENING OCCURING WITHINCONCRETE LEAVEOUT AREA, TYPICAL

TELEGAS SERVICE

C.8

8'-0

"

3

GNC: 1,500 sf

15'-0"

20'-0 1/16"17'-5 15/16"20'-10 11/16"6 1/2"

Rack Room Shoes: 5,500 sf

55'-7 1/16"

11'-7 1/16" 44'-0"

Deluxe Nails: 2,143 sf Radio Shack: 2,400 sf Sally's Beauty: 1,500 sf GNC: 1,500 sf Rack Room Shoes: 5,500 sf

1'-4"

HALLMARK: 3,750 sf

37'-6"

AVAILABLE: 2,063 sf

20'-7 9/16"

19'-3 9/16"

AVAIL: 2,063 sf

Hallmark: 3,750 sf

Scale:01 LOD Exterior Elevation1/8"=1'-0"

Scale:01 LOD Floor Plan1/8"=1'-0"

DISTRIBUTION: DATE:

PROJECT#

Ret

ail B

ldg #

1

LOD0619

L.O.D. 01/18/2011

AV

AIL

AB

LE

— 2

,06

3 S

F

DE

LUX

E N

AIL

S

FLOOR PLAN / ELEVATION

KYLE CROSSING

AVAILABLE1,866 SF

SECTION VI

FLOOR PLAN / ELEVATION

KYLE CROSSING

KYLE HIGHLIGHTS

SECTION VII

WHY KYLE?

Kyle is strategically located along the I-35 corridor just 15 miles south of Austin and 57 miles north of San Antonio, two Top Performing Cities in Texas. Kyle’s location continues to drive explosive growth, making it the fifth fastest growing city in the state.

A THRIVING RETAIL ENVIRONMENT

Based on sales tax receipts/property valuations, Kyle enjoyed a 427% growth rate from 2000—2010.

Approximately 2.5 million square feet of retail/mixed use space is currently under development at the intersection of I-35 and FM 1626 alone. More than 900,000 square feet of development is planned for FM 1626 and Kohlers Crossing with an additional 800,000 square feet of retail/mixed use space adjacent to Home Depot at exit 215.

KYLE CROSSING

DEMOGRAPHICS

SECTION VIII

Demographic Source: Applied Geographic Solutions 08/2014, TIGER Geography page 1 of 3©2014, Sites USA, Chandler, Arizona, 480-491-1112

Thi

s re

port

was

pro

duce

d us

ing

data

from

priv

ate

and

gove

rnm

ent s

ourc

es d

eem

ed to

be

relia

ble.

The

info

rmat

ion

here

in is

pro

vide

d w

ithou

t rep

rese

ntat

ion

or w

arra

nty.

FULL PROFILE2000-2010 Census, 2014 Estimates with 2019 ProjectionsCalculated using Proportional Block Groups

Lat/Lon: 30.0125/-97.8622RF1

KYLE CROSSING1 mi radius 3 mi radius 5 mi radius

Kyle, TX 78640

PO

PU

LATI

ON

2014 Estimated Population 3,982 34,292 54,7352019 Projected Population 4,897 42,165 67,2562010 Census Population 3,370 29,027 46,3602000 Census Population 774 8,500 15,987Projected Annual Growth 2014 to 2019 4.6% 4.6% 4.6%Historical Annual Growth 2000 to 2014 29.6% 21.7% 17.3%

HO

US

EH

OLD

S

2014 Estimated Households 1,237 10,699 16,8492019 Projected Households 1,517 13,123 20,6692010 Census Households 1,056 9,136 14,3882000 Census Households 234 2,552 4,750Projected Annual Growth 2014 to 2019 4.5% 4.5% 4.5%Historical Annual Growth 2000 to 2014 30.6% 22.8% 18.2%

AG

E

2014 Est. Population Under 10 Years 20.7% 19.2% 18.7%2014 Est. Population 10 to 19 Years 16.0% 15.5% 15.5%2014 Est. Population 20 to 29 Years 15.1% 14.5% 15.1%2014 Est. Population 30 to 44 Years 27.3% 27.0% 26.0%2014 Est. Population 45 to 59 Years 13.7% 14.9% 15.5%2014 Est. Population 60 to 74 Years 5.9% 7.3% 7.6%2014 Est. Population 75 Years or Over 1.3% 1.6% 1.7%2014 Est. Median Age 28.5 29.8 29.9

MA

RIT

AL

STA

TUS

&

GE

ND

ER

2014 Est. Male Population 48.9% 49.5% 49.9%2014 Est. Female Population 51.1% 50.5% 50.1%

2014 Est. Never Married 27.9% 26.8% 28.3%2014 Est. Now Married 48.9% 55.9% 54.0%2014 Est. Separated or Divorced 20.2% 14.6% 15.1%2014 Est. Widowed 3.0% 2.7% 2.7%

INC

OM

E

2014 Est. HH Income $200,000 or More 1.9% 1.8% 2.4%2014 Est. HH Income $150,000 to $199,999 5.1% 6.1% 6.6%2014 Est. HH Income $100,000 to $149,999 18.7% 21.0% 19.4%2014 Est. HH Income $75,000 to $99,999 23.2% 21.3% 18.9%2014 Est. HH Income $50,000 to $74,999 25.9% 21.2% 21.5%2014 Est. HH Income $35,000 to $49,999 12.2% 11.2% 11.2%2014 Est. HH Income $25,000 to $34,999 7.3% 6.4% 7.7%2014 Est. HH Income $15,000 to $24,999 3.4% 4.7% 5.4%2014 Est. HH Income Under $15,000 2.3% 6.5% 6.9%2014 Est. Average Household Income $77,404 $77,253 $77,1232014 Est. Median Household Income $74,197 $74,878 $72,2552014 Est. Per Capita Income $24,039 $24,114 $23,798

2014 Est. Total Businesses 157 597 9202014 Est. Total Employees 1,833 5,991 8,897

KYLE CROSSING

DEMOGRAPHICS

Demographic Source: Applied Geographic Solutions 08/2014, TIGER Geography page 2 of 3©2014, Sites USA, Chandler, Arizona, 480-491-1112

This

repo

rt w

as p

rodu

ced

usin

g da

ta fr

om p

rivat

e an

d go

vern

men

t sou

rces

dee

med

to b

e re

liabl

e. T

he in

form

atio

n he

rein

is p

rovi

ded

with

out r

epre

sent

atio

n or

war

rant

y.

FULL PROFILE2000-2010 Census, 2014 Estimates with 2019 ProjectionsCalculated using Proportional Block Groups

Lat/Lon: 30.0125/-97.8622RF1

KYLE CROSSING1 mi radius 3 mi radius 5 mi radius

Kyle, TX 78640

RAC

E

2014 Est. White 72.7% 74.3% 73.0%2014 Est. Black 4.8% 4.6% 4.5%2014 Est. Asian or Pacific Islander 1.0% 1.1% 1.1%2014 Est. American Indian or Alaska Native 0.9% 0.9% 0.9%2014 Est. Other Races 20.6% 19.1% 20.6%

HIS

PAN

IC

2014 Est. Hispanic Population 2,082 17,206 28,7672014 Est. Hispanic Population 52.3% 50.2% 52.6%2019 Proj. Hispanic Population 53.5% 51.4% 53.8%2010 Hispanic Population 50.4% 48.4% 50.7%

EDU

CAT

ION

(Adu

lts 2

5 or

Old

er)

2014 Est. Adult Population (25 Years or Over) 2,330 20,800 33,0402014 Est. Elementary (Grade Level 0 to 8) 2.8% 5.7% 6.8%2014 Est. Some High School (Grade Level 9 to 11) 9.5% 6.4% 7.6%2014 Est. High School Graduate 22.0% 25.2% 26.1%2014 Est. Some College 28.4% 28.4% 26.9%2014 Est. Associate Degree Only 8.9% 8.7% 7.9%2014 Est. Bachelor Degree Only 18.7% 18.8% 18.2%2014 Est. Graduate Degree 9.6% 6.8% 6.4%

HO

USI

NG 2014 Est. Total Housing Units 1,304 11,033 17,386

2014 Est. Owner-Occupied 67.9% 77.5% 78.2%2014 Est. Renter-Occupied 27.0% 19.5% 18.8%2014 Est. Vacant Housing 5.1% 3.0% 3.1%

HO

MES

BU

ILT

BY Y

EAR 2010 Homes Built 2005 or later 23.0% 30.3% 33.1%

2010 Homes Built 2000 to 2004 35.7% 30.0% 25.0%2010 Homes Built 1990 to 1999 19.1% 13.8% 14.5%2010 Homes Built 1980 to 1989 8.8% 10.5% 11.9%2010 Homes Built 1970 to 1979 4.9% 6.8% 7.2%2010 Homes Built 1960 to 1969 2.6% 2.8% 2.9%2010 Homes Built 1950 to 1959 4.1% 3.2% 2.9%2010 Homes Built Before 1949 1.8% 2.6% 2.6%

HO

ME

VALU

ES

2010 Home Value $1,000,000 or More 0.7% 0.3% 0.3%2010 Home Value $500,000 to $999,999 1.3% 0.8% 0.9%2010 Home Value $400,000 to $499,999 0.4% 0.4% 0.7%2010 Home Value $300,000 to $399,999 1.0% 1.9% 2.3%2010 Home Value $200,000 to $299,999 5.8% 11.5% 13.4%2010 Home Value $150,000 to $199,999 24.2% 29.3% 28.8%2010 Home Value $100,000 to $149,999 50.7% 37.7% 32.2%2010 Home Value $50,000 to $99,999 8.4% 11.5% 13.5%2010 Home Value $25,000 to $49,999 4.1% 4.1% 4.7%2010 Home Value Under $25,000 3.5% 2.6% 3.2%2010 Median Home Value $138,479 $143,929 $146,0902010 Median Rent $923 $929 $856

SECTION VIII

KYLE CROSSING

DEMOGRAPHICS

Demographic Source: Applied Geographic Solutions 08/2014, TIGER Geography page 3 of 3©2014, Sites USA, Chandler, Arizona, 480-491-1112

Thi

s re

port

was

pro

duce

d us

ing

data

from

priv

ate

and

gove

rnm

ent s

ourc

es d

eem

ed to

be

relia

ble.

The

info

rmat

ion

here

in is

pro

vide

d w

ithou

t rep

rese

ntat

ion

or w

arra

nty.

FULL PROFILE2000-2010 Census, 2014 Estimates with 2019 ProjectionsCalculated using Proportional Block Groups

Lat/Lon: 30.0125/-97.8622RF1

KYLE CROSSING1 mi radius 3 mi radius 5 mi radius

Kyle, TX 78640

LAB

OR

FO

RC

E

2014 Est. Labor Population Age 16 Years or Over 2,750 24,277 38,9082014 Est. Civilian Employed 72.1% 69.4% 68.1%2014 Est. Civilian Unemployed 2.9% 2.8% 2.8%2014 Est. in Armed Forces - 0.1% 0.1%2014 Est. not in Labor Force 25.0% 27.6% 29.1%2014 Labor Force Males 47.6% 48.6% 48.9%2014 Labor Force Females 52.4% 51.4% 51.1%

OC

CU

PA

TIO

N

2010 Occupation: Population Age 16 Years or Over 1,629 14,145 22,3502010 Mgmt, Business, & Financial Operations 14.2% 14.7% 15.0%2010 Professional, Related 19.2% 23.0% 22.0%2010 Service 14.2% 15.6% 15.9%2010 Sales, Office 32.9% 27.0% 26.0%2010 Farming, Fishing, Forestry - 0.1% 0.1%2010 Construction, Extraction, Maintenance 6.9% 8.2% 9.8%2010 Production, Transport, Material Moving 12.6% 11.4% 11.1%2010 White Collar Workers 66.3% 64.8% 63.0%2010 Blue Collar Workers 33.7% 35.2% 37.0%

TRA

NS

PO

RTA

TIO

NTO

WO

RK

2010 Drive to Work Alone 84.9% 80.6% 78.2%2010 Drive to Work in Carpool 9.0% 13.2% 15.6%2010 Travel to Work by Public Transportation 0.3% 0.5% 0.4%2010 Drive to Work on Motorcycle 0.4% 0.2% 0.3%2010 Walk or Bicycle to Work 2.6% 1.1% 1.0%2010 Other Means 0.1% 0.2% 0.3%2010 Work at Home 2.7% 4.2% 4.1%

TRA

VE

L TI

ME 2010 Travel to Work in 14 Minutes or Less 25.3% 15.0% 14.2%

2010 Travel to Work in 15 to 29 Minutes 26.3% 27.8% 28.4%2010 Travel to Work in 30 to 59 Minutes 36.4% 43.4% 43.0%2010 Travel to Work in 60 Minutes or More 12.0% 13.7% 14.4%2010 Average Travel Time to Work 26.3 30.7 31.1

CO

NS

UM

ER

EX

PE

ND

ITU

RE

2014 Est. Total Household Expenditure $73.2 M $632 M $993 M2014 Est. Apparel $3.54 M $30.4 M $47.9 M2014 Est. Contributions, Gifts $4.56 M $40.0 M $63.6 M2014 Est. Education, Reading $2.00 M $17.7 M $27.9 M2014 Est. Entertainment $4.12 M $35.6 M $55.9 M2014 Est. Food, Beverages, Tobacco $11.6 M $99.8 M $157 M2014 Est. Furnishings, Equipment $3.29 M $28.4 M $44.5 M2014 Est. Health Care, Insurance $5.04 M $43.6 M $68.6 M2014 Est. Household Operations, Shelter, Utilities $21.8 M $188 M $296 M2014 Est. Miscellaneous Expenses $1.20 M $10.4 M $16.2 M2014 Est. Personal Care $1.06 M $9.14 M $14.3 M2014 Est. Transportation $15.0 M $128 M $201 M

SECTION VIII

KYLE CROSSING

AGENCY DISCLOSURE

Before working with a real estate broker, you should know that the duties of a broker depend on whom the broker represents. If you are a prospective seller or landlord (owner) or a prospective buyer or tenant (buyer), you should know that the broker who lists the property for sale or lease is the owner’s agent. A broker who acts as a subagent represents the owner in cooperation with the listing broker. A broker who acts as a buyer’s agent represents the buyer. A broker may act as an intermediary between the parties if the parties consent in writing. A broker can assist you in locating a property, preparing a contract or lease, or obtaining financing without representing you. A broker is obligated by law to treat you honestly.

IF THE BROKER REPRESENTS THE OWNER The broker becomes the owner’s agent by entering into an agreement with the owner, usually through a written - listing agreement, or by agreeing to act as a subagent by accepting an offer of subagency from the listing broker. A subagent may work in a different real estate office. A listing broker or subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first. The buyer should not tell the owner’s agent anything the buyer would not want the owner to know because an owner’s agent must disclose to the owner any material information known to the agent.

IF THE BROKER REPRESENTS THE BUYER The broker becomes the buyer’s agent by entering into an agreement to represent the buyer, usually through a written buyer representation agreement. A buyer’s agent can assist the owner but does not represent the owner and must place the interests of the buyer first. The owner should not tell a buyer’s agent anything the owner would not want the buyer to know because a buyer’s agent must disclose to the buyer any material information known to the agent.

IF THE BROKER ACTS AS AN INTERMEDIARY A broker may act as an intermediary between the parties if the broker complies with The Texas Real Estate License Act. The broker must obtain the written consent of each party to the transaction to

act as an intermediary. The written consent must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker’s obligations as an intermediary. The broker is required to treat each party honestly and fairly and to comply with The Texas Real Estate License Act. A broker who acts as an intermediary in a transaction:

(1) shall treat all parties honestly;

(2) may not disclose that the owner will accept a price less that the asking price unless authorized in writing to do so by the owner;

(3) may not disclose that the buyer will pay a price greater than the price submitted in a written offer unless authorized in writing to do so by the buyer; AND

(4) may not disclose any confidential information or any information that a party specifically instructs the broker in writing not to disclose unless authorized in writing to disclose the information or required to do so by The Texas Real Estate License Act or a court order or if the information materially relates to the condition of the property.

With the parties’ consent, a broker acting as an intermediary between the parties may appoint a person who is licensed under The Texas Real Estate License Act and associated with the broker to communicate with and carry out instructions of one party and another person who is licensed under that Act and associated with the broker to communicate with and carry out instructions of the other party

If you choose to have a broker represent you, you should enter into a written agreement with the broker that clearly establishes the broker’s obligations and your obligations. The agreement should state how and by whom the broker will be paid. You have the right to choose the type of representation, if any, you wish to receive. Your payment of a fee to a broker does not necessarily establish that the broker represents you. If you have any questions regarding the duties and responsibilities of the broker, you should resolve those questions before proceeding.

APPROVED BY THE TEXAS REAL ESTATE COMMISSION FOR VOLUNTARY USETexas law requires all real estate licensees to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords.

INFORMATION ABOUT BROKERAGE SERVICES

Real estate licensee asks that you acknowledge receipt of this information about brokerage services for the licensee’s records.

Buyer, Seller, Landlord or Tenant DateTexas Real Estate Brokers and Salespersons are licensed and regulated by the Texas Real Estate Commission (TREC). If you have a question or complaint regarding a real estate licensee, you should contact TREC at P.O. Box 12188, Austin, Texas 78711-2188 , 512.936.3000 (trec.texas.gov) TREC No. OP-K

SECTION IX