|
|
Disclosure Regarding Real Estate Agency Relationships
|
|---|
|
Seller Agency Agent Represents Seller as Client |
Buyer Agency Agent Represents Buyer as Client |
|
Responsibilities to the Buyer Customer Exercise reasonable skill and care in performance of duties Deal honestly, fairly, and in good faith Disclose all facts known to materially affect the value or desirability of the property Responsibilities to the Seller Client Fiduciary responsibilities of: Reasonable care Undivided loyalty Confidentiality Full disclosure Obedience Duty to account |
Responsibilities to the Buyer Client Fiduciary responsibilities of: Reasonable care Undivided loyalty Confidentiality Full disclosure Obedience Duty to account Responsibilities to the Seller Exercise reasonable skill and care in performance of duties Deal honestly, fairly, and in good faith Disclose all facts known to materially affect the value or desirability of the property |
|
Disclosed Consensual Dual Agency Agent Represents Seller and Buyer as Clients |
Designated Agency Agreement |
|
Responsibilities to the Buyer Client and Seller Client Disclose dual agency relationship Exercise reasonable skill and care in performance of duties Deal honestly, fairly, and in good faith Disclose all facts known to materially affect the value or desirability of the property May not disclose information regarding the lowest price a seller will accept or the highest price a buyer will offer May not disclose information obtained in confidence from any past or present client Obedience Duty to account |
All the same responsibilities remain in effect as in seller agency Another designated agent represents only the buyer as clients All the same responsibilities remain in effect as in buyer agency Principal Broker represents seller and buyer as clients All the same responsibilities remain the same for the Principal Broker as in Disclosed Consensual Dual Agency |
* Whenever agency exists, it is with the Principal broker (i.e. BryCon Realty), not with the individual agent of BryCon Realty. But Broker's Agents have the same responsibility to the client as the Principal Broker.
Note: Agency may involve legal matters. If you have questions concerning these matters, you should consult an attorney.
