agency disclosure

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Agency Disclosure

A statement a real estate broker provides the potential buyer or seller of a property detailing the nature of the broker's prospective relationship with that buyer or seller. The agency disclosure outlines the rights and responsibilities the broker has in a real estate transaction. In general, the agency disclosure states whether the broker will represent the buyer, the seller, or both.

agency disclosure

State laws that require agents to disclose which party to a transaction they are representing.Some states also require agents to disclose all agency relationships offered by their firm.

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Besides the benefits to the class members resulting from the settlement, we believe the lawsuits spurred needed legislation regarding agency disclosures in the residential real estate industry as well as improved educational requirements for Minnesota's Realtors," added Regina Chu, co-counsel for Plaintiffs.
What must securitizers disclose about their loans and what rating agency disclosures will require?
In addition to the law, realtors are bound by a Code of Ethics which obligates them to make agency disclosures, he emphasized.
Our association (PAR), a longtime advocate of agency disclosure laws, was instrumental in the passage of amendments to the Real Estate Licensing and Registration Act requiring the disclosure of a broker's interests to protect the consumer from any confusion as to whom the real estate broker represents," Stampahar stressed.
Agency disclosure also helps increase the credibility of the broker with the prospective buyer and reduces legal confrontations, because the consumer knows up front where his (broker's) interests are, he added.

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