MANDATORY AGENCY DISCLOSURE – AGENCY RELATIONSHIP
disclosure form must be provided at the first
meeting that you have with a real estate agent, either a seller's agent or a buyer's
agent, to discuss a specific property. THIS IS NOT A CONTRACT. It is a disclosure
notice for your information and protection.
key information in this disclosure form lies in the definitions of the different
types of agents that can sell real estate in Massachusetts.
OF AGENCY REPRESENTATION
When a seller engages the services of a listing
broker, that seller becomes the broker’s client. This means the broker and its
subagents represent the seller. Seller's agents
owe the seller undivided loyalty, utmost care, disclosure,
obedience to lawful instruction, confidentiality and accountability. They must
put the seller’s interest first and negotiate for
the best price and terms for their client, the seller. (The seller may also authorize
subagents to represent him/her in marketing the property to buyers.)
When a buyer engages the services of a broker,
then that buyer becomes the broker’s client. This means that the broker represents
the buyer. The broker (buyer's agent) owes the buyer undivided
loyalty, utmost care, disclosure, obedience to lawful instruction, confidentiality
and accountability. The broker must put the buyers interest first and negotiate
for the best price and terms for their client, the buyer. (The buyer may also
authorize subagents to represent him/her in locating property.)
DISCLOSED DUAL AGENT
A broker can work for both buyer and seller on the same property provided such broker obtains the informed
consent of both parties. The broker is then considered a dual agent. This broker owes
the seller and the buyer a duty to deal with them fairly and honestly. In this
type of agency relationship, the broker does not represent either the seller or
buyer exclusively, and they cannot expect the broker’s undivided loyalty. Also,
undisclosed dual agency is illegal.
MASSACHUSETTS BOARD OF REGISTRATION
OF REAL ESTATE BROKERS AND SALESPERSONS
MANDATORY AGENCY DISCLOSURE – AGENCY
The purpose of this disclosure is to enable you to make informed
choices before working with a real estate licensee. It must be provided at the
first personal meeting that you have with an agent to discuss a specific property.
THIS IS NOT A CONTRACT. It is a disclosure notice for your
information and protection. BE SURE YOU HAVE READ THE DESCRIPTIONS OF THE DIFFERENT
TYPES OF AGENCY REPRESENTATION IN THIS DISCLOSURE (ABOVE).
you are the buyer or the seller, you can choose to have the advice, assistance
and representation of your own agent. Do not assume that a broker is acting on
your behalf unless you have contracted with that broker to represent you.
real estate licensees must, by law, present properties honestly and accurately.
you are a seller you may authorize your listing agent to cooperate with agents
from other firms to help sell your property. These cooperating agents may be subagents
who work for the seller or buyer’s agents.
you are the buyer you have the option of working with sellers’ or buyers’ agents.
This decision will depend on the types of services you want from a real estate
agent. A buyer should tell sellers’ agents, including subagents, only what he/she
would tell the seller directly.
duties of a real estate licensee do not relieve the consumer of the responsibility
to protect his/her own interest. If you need advice for legal, tax, insurance
or other matters it is your responsibility to consult a professional in those
have provided this disclosure form to _____________________________________________________________
(print name of consumer)
have informed the above named consumer that I am a: (check one) _____ Seller's
(Signature of Real Estate Agent)
have read this agency disclosure form in its entirety.
I understand that this
form is for agency disclosure AND NOT A CONTRACT.
provided to me by the agent named above.
Check Here: ______
(Signature of Consumer(s)
a consumer, I decline to sign this disclosure form:
(Please print name of consumer and reason, if any.)