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Commercial Webinar Series 1 hour presentation Commercial Commission Agreements presented by Rick Albers Questions will be answered at the end. For technical questions, call 800-263-6317.

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Page 1: Commercial Webinar Series 1 hour presentation Commercial Commission Agreements presented by Rick Albers Questions will be answered at the end. For technical

Commercial Webinar Series1 hour presentation

Commercial Commission Agreements presented by

Rick Albers

Questions will be answered at the end.

For technical questions, call 800-263-6317.

Page 2: Commercial Webinar Series 1 hour presentation Commercial Commission Agreements presented by Rick Albers Questions will be answered at the end. For technical

Commercial Webinar Series

Commercial Commission Agreements

Presented by

Rick Albers Kuperman Orr & Albers, P.C.1501 S. MoPac, Suite 325

Austin, Texas [email protected]

July 25, 2013

Page 3: Commercial Webinar Series 1 hour presentation Commercial Commission Agreements presented by Rick Albers Questions will be answered at the end. For technical

Topics

• Requirements to Earn a Commission

• Basic Commission Forms

• Legal Issues in Completing Forms

• Supplemental Commission Forms

• Commercial Broker’s Lien

Page 4: Commercial Webinar Series 1 hour presentation Commercial Commission Agreements presented by Rick Albers Questions will be answered at the end. For technical

Requirements to Earn a Commission

• Hold an active license

• Be a Broker or affiliated with a Broker

• Give statutory notice to get a title policy or have an abstract of title examined by an attorney

• Written agreement to paya commission

Page 5: Commercial Webinar Series 1 hour presentation Commercial Commission Agreements presented by Rick Albers Questions will be answered at the end. For technical

Requirements to Earn a Commission

• Written agreement to pay a commission

Signed by the party obligated to pay the commission

Commission amount is stated or contains a formula to calculate the commission

Legally sufficient property description

Termination date

Page 6: Commercial Webinar Series 1 hour presentation Commercial Commission Agreements presented by Rick Albers Questions will be answered at the end. For technical

Basic Commission Forms

Owner side - Listing Agreements• Commercial Real Estate Listing Agreement

- Exclusive Right to Sell (TAR 1301)• Commercial Real Estate Listing Agreement

- Exclusive Right to Lease (TAR 1302)• Commercial Real Estate Listing Agreement

- Exclusive Right to Sublease (TAR 1303)

Page 7: Commercial Webinar Series 1 hour presentation Commercial Commission Agreements presented by Rick Albers Questions will be answered at the end. For technical

Basic Commission Forms

Other side - Representation Agreement

• Commercial Buyer/Tenant Representation Agreement (TAR 1502)

Page 8: Commercial Webinar Series 1 hour presentation Commercial Commission Agreements presented by Rick Albers Questions will be answered at the end. For technical

Legal Issues

Commercial Real Estate

Listing Agreements

• Exclusive Right to Sell (TAR 1301)

• Exclusive Right to Lease (TAR 1302)

• Exclusive Right to Sublease (TAR 1303)

Page 9: Commercial Webinar Series 1 hour presentation Commercial Commission Agreements presented by Rick Albers Questions will be answered at the end. For technical
Page 10: Commercial Webinar Series 1 hour presentation Commercial Commission Agreements presented by Rick Albers Questions will be answered at the end. For technical
Page 11: Commercial Webinar Series 1 hour presentation Commercial Commission Agreements presented by Rick Albers Questions will be answered at the end. For technical
Page 12: Commercial Webinar Series 1 hour presentation Commercial Commission Agreements presented by Rick Albers Questions will be answered at the end. For technical
Page 13: Commercial Webinar Series 1 hour presentation Commercial Commission Agreements presented by Rick Albers Questions will be answered at the end. For technical
Page 14: Commercial Webinar Series 1 hour presentation Commercial Commission Agreements presented by Rick Albers Questions will be answered at the end. For technical
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Page 16: Commercial Webinar Series 1 hour presentation Commercial Commission Agreements presented by Rick Albers Questions will be answered at the end. For technical
Page 17: Commercial Webinar Series 1 hour presentation Commercial Commission Agreements presented by Rick Albers Questions will be answered at the end. For technical
Page 18: Commercial Webinar Series 1 hour presentation Commercial Commission Agreements presented by Rick Albers Questions will be answered at the end. For technical
Page 19: Commercial Webinar Series 1 hour presentation Commercial Commission Agreements presented by Rick Albers Questions will be answered at the end. For technical

Legal Issues

Commercial Buyer/Tenant

Representation Agreement

• Buyer/Tenant Representation Agreement (TAR 1502)

Page 20: Commercial Webinar Series 1 hour presentation Commercial Commission Agreements presented by Rick Albers Questions will be answered at the end. For technical
Page 21: Commercial Webinar Series 1 hour presentation Commercial Commission Agreements presented by Rick Albers Questions will be answered at the end. For technical
Page 22: Commercial Webinar Series 1 hour presentation Commercial Commission Agreements presented by Rick Albers Questions will be answered at the end. For technical
Page 23: Commercial Webinar Series 1 hour presentation Commercial Commission Agreements presented by Rick Albers Questions will be answered at the end. For technical

Supplemental Commission Forms

• Condominium Addendum to Listing (TAR 1401)

• Named Exclusions Addendum to Listing (TAR 1402)

• Exclusive Agency Addendum to Listing (TAR 1403)

• Amendment to Listing (TAR 1404)

• Information About On-Site Sewer Facility (TAR 1407)

• Commercial Property Condition Statement(TAR 1408)

Page 24: Commercial Webinar Series 1 hour presentation Commercial Commission Agreements presented by Rick Albers Questions will be answered at the end. For technical

Supplemental Commission Forms

• Intermediary Relationship Notification (TAR 1409)

• Termination of Listing (TAR 1410)

• Keybox Authorization by Tenant (TAR 1411)

• Seller's Authorization to Release and Advertise Certain Information (TAR 1412)

• Request for Mortgage Information (TAR 1413)

• Information About Special Flood HazardAreas (TAR 1414)

Page 25: Commercial Webinar Series 1 hour presentation Commercial Commission Agreements presented by Rick Albers Questions will be answered at the end. For technical

Supplemental Commission Forms

• Termination of Buyer/Tenant Representation Agreement (TAR 1503)

• Notice from Buyer's Agent to Seller (TAR 1504)

• Amendment to Buyer/Tenant Representation Agreement (TAR 1505)

• General Information and Notice to a Buyer(TAR 1506)

Page 26: Commercial Webinar Series 1 hour presentation Commercial Commission Agreements presented by Rick Albers Questions will be answered at the end. For technical

Commercial Broker’s Lien(Chapter 62 of the Texas Property Code)

• There must be a valid obligation to pay a commission.

• Notice of right to claim the Commercial Broker's Lien must be disclosed in the commission agreement.

• Lien affidavit must be timely recorded and indexed after the commission is earned.

• Deadline to record the Commercial Broker's Lien Affidavit is different if commission owed by Seller, Buyer, Landlord or Tenant.

Page 27: Commercial Webinar Series 1 hour presentation Commercial Commission Agreements presented by Rick Albers Questions will be answered at the end. For technical

Forms Revisions

• TAR Commercial Forms Committee• Meeting beginning in August• Suggestions and Comments are encouraged

Page 28: Commercial Webinar Series 1 hour presentation Commercial Commission Agreements presented by Rick Albers Questions will be answered at the end. For technical

Forms Revisions

• TAR Commercial Forms Committee• Meeting beginning in August• Suggestions and Comments are encouraged• Official Collector of comments is:

Kinski Moss TAR Senior Associate Counsel

[email protected]

Page 29: Commercial Webinar Series 1 hour presentation Commercial Commission Agreements presented by Rick Albers Questions will be answered at the end. For technical

Questions ?• NOW –

Type your questions now.

• LATER –

TAR Legal Hotline 512-480-8200

Rick [email protected]

Page 30: Commercial Webinar Series 1 hour presentation Commercial Commission Agreements presented by Rick Albers Questions will be answered at the end. For technical

Conclusion

• Thanks for your participation in the TAR quarterly Commercial webinars!

• Next Webinar:October 24, 20131031 Exchanges Presented by Teresa Person

• Give us your feedback!