RECAD

Real Estate Brokerage Services Disclosure

1. Types of Agents:

   • Single Agent: Represents only one party (buyer or seller) and must be fully loyal to that party.
   • Subagent: Helps the single agent by representing the same party, also with full loyalty.
   • Limited Consensual Dual Agent: Represents both the buyer and the seller. This requires written consent from both parties and involves balancing loyalty to both.
   • Transaction Broker: Helps both parties but doesn’t represent them. Provides limited services and doesn’t act as an agent.

2. General Obligations of All Agents:

   • Act honestly and fairly.
   • Provide reasonable care and skill.
   • Keep information confidential unless required by law or if it becomes public knowledge.
   • Present all offers promptly.
   • Answer questions accurately.

3. Services Provided by a Transaction Broker:

   • Can show properties, help make offers, and provide information on financing.
   • Cannot give advice on pricing or negotiate on behalf of a party.

4. Choosing Your Agent:

   • You need to decide what type of service you want and sign a brokerage service agreement. Without this, the licensee will act as a transaction broker by default.

Disclaimer: The information provided in this explanation of the real estate agreement is believed to be accurate but is not guaranteed. It is intended for general informational purposes only and should not be considered legal advice. For specific legal concerns or questions about the agreement, we strongly recommend consulting with a qualified legal professional.

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