Agency Disclosure is a written explanation, to be signed by a prospective buyer or seller, explaining to the client the role that the broker plays in the transaction. This ensures clients understand to which party the broker owes loyalty.
Dual agency occurs when a real estate agent represents both the buyer and seller in the same real estate transaction. This arrangement is subject to strict regulatory controls to manage potential conflicts of interest.
An undisclosed agency relationship occurs when a client is unaware that their agent has a duty to represent the other party in a transaction. This often leads to implied agency where the client believes the agent is working solely for their benefit.
