Topic · 9 policies
Agency & dual agency
Who you represent, disclosure, dual agency, ending an agency relationship
- 7.5Agency Relationships and DutiesA. Recognized Forms of Agency The Company generally recognizes five forms of agency: - Single Agency (Seller’s Agent exclusively or Buyer’s Agent exclusively). -…
- 10.7Client vs. CustomerClient The REALTOR® Code of Ethics Standard of Practice 1-2 defines a client as the person or entity with whom the licensee has a legally recognized agency relationship…
- 10.8Duties Owed To A Third PartyHonest and fair dealing and good faith requires honesty and good faith to form the foundation for all dealings with the third party. No attempt should be made by the…
- 10.9Compensation and the Creation of Agency RelationshipsThe sole act of compensating a real estate licensee does not create an agency relationship. For example, with the buyer’s consent, the selling agent can agree to act as…
- 10.10Agency Disclosure LawThe listing and selling brokers must orally inform the buyer and seller and in writing using the Agency Disclosure form whether they are acting exclusively as agents of…
- 10.12Undisclosed Dual AgencyUndisclosed dual agency is always illegal. The dual agent must always disclose and obtain the consent of both parties.
- 10.13Dual Agency Considerations (if permitted in your State)Company policy recommends that any Associates proceed very carefully in any dual agency situation. If the Associate does not have significant experience representing…
- 10.14Terminating an Agency RelationshipCompany policy is to discuss the termination of any agency relationships with the Broker or Manager before doing so orally or in writing. Agency relationships are…
- 10.33Failure to Disclose Dual AgencyCompany policy is to always disclose dual agency. Failure to disclose dual agency is unethical and illegal. The dual agent must always make disclosure and obtain the…
