BROKERS, REALTORS, AGENTS AND REPRESENTATIVES
"The" Broker does not necessarily represent your interests!
A "Broker" is the license designation granted by the State of Texas Real Estate Commission (TREC).
A "RealtorŪ" is a licensee that agrees to be bound by ethical rules established by the National (NAR), Texas (TAR) and Houston (HAR) associations of RealtorsŪ.
An "Agent" is a legal concept imposed by statute and common law between a "Principal" and an "Agent". An agent is not necessarily a Broker or a Realtor.
A "Representative" is a type of agent that more clearly states the duties between the "Principal" and the "Agent".
The Gustafson Group, if requested by you and consented to by us, will be your Tenant Representative and your "Agent". The Gustafson Group, Robert Avary and Jim Gustafson are RealtorsŪ, CCIMSŪ and are licensed Brokers in the State of Texas.
Building Agents are hired to work for the building owner. The Building Agent (licensed broker or unlicensed employee) who represents the building owner is charged with marketing the space in order to secure advantageous lease terms for the building owner.
The licensee who represents prospective tenants in identifying and leasing commercial space is known as a Tenant Representative. A Tenant Representative is retained by the tenant. Your Tenant Representative is hired to work for you, and not the landlord. How can some firms claim to do both on the same transaction?
CODE OF ETHICS AND STANDARDS OF PRACTICE
THE NATIONAL ASSOCIATION OF REALTORSŪ (NAR)
EFFECTIVE JANUARY 1, 2003
Standard of Practice 1-2
The duties the Code of Ethics imposes are applicable whether RealtorsŪ are acting as agents or in legally recognized non-agency capacities except that any duty imposed exclusively on agents by law or regulation shall not be imposed by this Code of Ethics on RealtorsŪ acting in non-agency capacities.
As used in this Code of Ethics, "client" means the person(s) or entity(ies) with whom a RealtorŪ or a RealtorŪ's firm has an agency or legally recognized non-agency relationship; "customer" means a party to a real estate transaction who receives information, services, or benefits but has no contractual relationship with the RealtorŪ or the RealtorŪ's firm; "agent" means a real estate licensee (including brokers and sales associates) acting in an agency relationship as defined by state law or regulation; and "broker" means a real estate licensee (including brokers and sales associates) acting as an agent or in a legally recognized non-agency capacity. (Adopted 1/95, Amended 1/99)