What Is the Disclosure Requirement for a Licensee Working with a Customer

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G. A licensee is not considered a dual agent if it cooperates with both the buyer and the seller, if the licensee is the seller of the property it owns, or if the property is owned by a real estate company whose sole owner and intermediary is the licensee. A dual agency cannot be interpreted as existing in a circumstance where the licensee cooperates with both the landlord and the lessee in respect of a lease that does not exceed a period of three years and the licensee is the lessor. Although the “first possible possibility”, as already stated in the Commission`s opinion (see winter 2000 edition), is somewhat subjective and “depends on the circumstances of each situation”, the omission interprets the “first feasible possibility” as meaning that the required brochure on the disclosure of brokerage services should be submitted and signed and the disclosure of the types of brokerage services offered or by which party the brokerage holder of permit is represented BEFORE it takes place. provides “specific support” to that customer or customer. If the written disclosure is not made before the specific support, it must be made immediately after. Specific support means receiving or accepting compromising information about a client`s real estate needs or potential or actual client. Compromising information is information that would diminish, impair or impair that party`s bargaining power in an arm`s length negotiation. Compromising information may include, but is not necessarily limited to: By signing below I, the Real Estate Licensee acknowledges that such disclosure has been provided to the consumer referred to herein in a timely manner.

_________ (Real Estate Agent Signature) (Printed Name of Real Estate Agent) (License Number/Type) (Today`s Date) The time at which the Licensee first provides practical assistance is considered the “first material contact” within the meaning of this Section. IF A SELLER`S OR BUYER`S AGENT IS EXAMINED ABOVE, COMPLETE THE FOLLOWING SECTION: Relationship with others, such as the unnamed agency with ________________________________The________________g). ____Only the real estate agent listed below represents the named consumer in this form (designated seller or buying agency). In this situation, any of the companies or corporations listed above and other agents associated with the company or company do not represent you and may represent another party in your real estate transaction. SS 76-2421 (1) contains two sentences (in bold in italics below) that the Nebraska Real Estate Commission believes need to be clarified to guide the behavior of real estate licensees in their practice with clients and clients, to help certain brokers monitor their affiliated licensees, and to assist real estate trainers in formulating and implementing practical procedures. Significant training on disclosure by the agency. FACILITATOR A facilitator is a single licensee who supports one or more parties during all or part of a real estate transaction without being an agent or advocate for the interests of either party to such a transaction. This relationship can turn into an agency relationship by concluding a written agency contract before preparing an offer.

If another relationship is provided between the Licensee providing the Services and the Seller, Lessor, Buyer or Tenant, it must be described in writing and signed by all parties to the Relationship before the Services are provided. At present, you are a client As a client, the real estate agent you work with is not obliged to keep confidential the information you share with him. As a client, you must not disclose confidential information that could harm your trading position. Vermont law requires all agents to perform basic duties in their dealings with a buyer or seller. You can expect the agent you are dealing with to provide the following services, whether you are a client or a client: • Disclosure of all material facts relating to the agent`s known property. • Treat the buyer and seller honestly and not knowingly give false or misleading information. • Take into account all funds and real estate received from or on behalf of the buyer or seller. • Compliance with all state and federal laws relating to the exercise of real estate. To help buyers and sellers understand what`s going on, we`ve reproduced below the consumer disclosures from the New Hampshire, Vermont, and Massachusetts real estate commissions. (NON-AGENT) FACILITATOR When a real estate agent works as a facilitator, that agent helps the seller and buyer reach an agreement, but does not represent either the seller or the buyer in the transaction.

The intermediary and broker with whom the intermediary is affiliated owe the seller and buyer the obligation to present each property honestly and accurately by disclosing known material defects of the property and owe an obligation to settle the funds. Unless otherwise agreed, the moderator is not obliged to treat as confidential information received from a seller or buyer. The role of the intermediary only applies to the seller and the buyer in the respective real estate transaction in which the seller and the buyer are involved. If the seller and the buyer expressly agree, an intermediary relationship may be modified to become an exclusive agency relationship with the seller or buyer. F. For each transaction, a licensee may, without liability, withdraw from the representation of a client who has not consented to a disclosed dual agency. The withdrawal does not affect the Licensee`s ability to continue to represent the other customer in the transaction or prevent the Licensee from representing the Customer in other transactions. If a withdrawal occurs, the Licensee will not receive a referral fee to refer a Customer to another Licensee, unless this is done in writing to both the withdrawing Customer and the Customer, who continues to be represented by the Licensee.

FACILITATOR (RSA 331-A:25-f) A facilitator is a single licensee who supports one or more parties during all or part of a real estate transaction without being an agent or advocate for the interests of a party to such a transaction. A facilitator may take departmental actions, such as . B showing the property, preparing and submitting offers, and providing information and administrative support, as well as other customer-level services listed on page 1 of this form. .