eXp - TREC Disclosure of Relationship with Residential Service Company
About the Texas Disclosure of Relationship with Residential Service Company form
What is the form?
This disclosure form is required for TREC Compliance to be provided if a license holder or brokerage receives any form of compensation from a residential service company (AKA "home warranty company"). That compensation can not be contingent upon a party to the real estate transaction purchasing a contract or services from the residential service company.
Because eXp has a marketing relationship with America's Preferred Home Warranty, we are required to disclose that relationship EVEN IF they are NOT choosing APHW for their home warranty.
What if my buyer isn't using APHW for their home warranty or we are not getting one at all? Can I skip this?
No. This form is simply a required disclosure of the relationship that eXp has with APHW. It does not mean that your buyer is or is not choosing to use APHW for a home warranty. It's simply a required TREC disclosure.
Note: You do not have to get one filled out on New Builds... just Residential Resale.
The best practice would be to have this form included in your form templates to send out automatically and pre-filled out based on your Listing Template or Buyer Template.
If you're the listing agent, your information will be on the right side and the buyer and buyer's agent will be on the left side.
I recommend having your seller sign this with their listing agreement and then putting it into Transaction Desk in MLS to make life easy-peasy!
If you're the buyer's agent, your info will be on the left side and the seller and seller's agent will be on the left side.
I recommend having your buyer sign this with their offer and submitting it simultaneously to get everything done in a snap!
BOTH BROKERAGES HAVE A RELATIONSHIP
If both brokerages have a relationship with a residential service provider, then one side or the other can simply add their information to the form. Like the example on the right.
This is where you will upload the document in Skyslope.
Before uploading, make sure you are uploading the copy that is signed by both sides of the transaction.
This will ensure a quick review by eXp Broker Compliance.