This is the third article in a series regarding Real Estate Agency Issues. Start by reading What is Agency Relationship and secondly Understanding Dual Agency – 5 Critical Considerations. This post deals with the California of REALTORS® form known as Disclosure & Consent For Representation Of More Than One Buyer Or Seller – Download CAR Form DA in PDF.
A real estate broker, whether a corporation, partnership, or sole proprietorship, (Broker) may represent more than one buyer or seller provided the Broker has made a disclosure and the principles have given their consent. This multiple representation can occur through an individual licensed as a broker or through different associate licensees acting for the Broker. The associates licensees may be working out of the same or different office locations.
More than likely with most real estate brokerages you will see this form as their “Standard of Care”. The Agency and Dual Agency Consent Form must be presented before you sign any contracts and the DA gives your consent for Dual Agency.
Buyer and Seller understand that Broker may represent more than one buyer or seller and even both buyer and seller on the same transaction.
If Seller is represented by Broker, Seller acknowledges that Broker may represent prospective buyers of Seller’s property and consents to Broker actin as a dual agent for both Seller and Buyer in that transaction.
If Buyer is represented by Broker, Buyer acknowledges that Broker may represent sellers of property that Buyer is interested in acquiring and consents to Broker acting as a dual agent for both Buyer and Seller with regard to that property.
As stated in previous posts it is RealtyV2 position to only do “Single Agency”. You need to choose for yourself what type of representation you want from your real estate agent. Consult a real estate attorney for advice on dual agency.
[print_link]
Disqus
Facebook
Flickr
LinkedIn
Twitter
YouTube
{ 2 trackbacks }