Are there exceptions when the disclosure notice about agency relationships (IABS) is not required?
Yes. The Information About Brokerage Services (IABS) representations disclosure is not required when:
(1) a transaction is for a residential lease less than one year and a sale is not being considered;
(2) a meeting is with a party currently known to be represented by another license holder; or
(3) the communication is at an open house and the communication concerns that same property.
[TRELA §1101.558(c)]
In addition, the IABS is not generally required when the license holder is acting solely as a principal in the transaction.