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.
Implied agency is an agency relationship established through the conduct, behavior, or circumstances of the involved parties, rather than through explicit agreement or written contract.
A Listing Broker (Agent) is a licensed real estate professional who secures a listing of the property on behalf of the property owner for the purpose of marketing and selling the property. The Listing Broker is responsible for representing the seller in negotiation and facilitating the sale.
A Protection Clause, also known as a Broker Protection Clause, is an agreement within a listing contract that ensures a real estate broker will be paid their commission if a property is sold to certain individuals, even after the expiration of the listing agreement.
A real estate agent is a licensed professional who represents buyers or sellers in real estate transactions. Real estate agents are generally compensated on a commission basis and operate under the supervision of a real estate broker.
