What is the purpose of the IABS form?

The purpose of the IABS form, which stands for Information About Brokerage Services, is to inform consumers about the different types of brokerage services available in Texas real estate transactions. This form outlines the duties and responsibilities of real estate agents in relation to their clients and customers, providing transparency regarding the nature of the working relationship.

It serves as a crucial tool to help consumers understand how their agent will represent them, ensuring that clients are aware of their rights and the options they have in terms of agency relationships. The IABS form is important because it fosters informed decision-making among consumers when engaging in real estate activities. By clearly communicating these aspects, it helps establish a professional standard within the real estate industry.

The other options do not accurately represent the primary function of the IABS form. While property taxes, filing complaints, and property value assessments are all relevant in the realm of real estate, they do not pertain to the specific purpose of the IABS form in informing about brokerage services.