Check You Understanding Answers
- What should an agent do if he or she realizes there is agency that has not been properly disclosed to someone?
The agent should immediately provide property disclosure and/or end agency with one or both clients to show sincerity in fixing the disclosure that should have taken place.
- Although legal in California, why is dual agency not encouraged?
It is not encouraged due to the obvious conflict of interests it creates between parties in a real estate transaction since it limits the ability of brokers and agents to perform their fiduciary responsibilities.
- What informational disclosure form must be provided to both sellers and buyers before they sign agency agreements with a broker?
C.A.R Standard Form AD - “Disclosure Regarding Real Estate Agency Relationships”
- How must confirmation of agency relationships be done?
Agency relationships must be must be confirmed in writing in either the purchase contract or in C.A.R Standard Form AC-6.
