When and how should license holders disclose who they represent under The Real Estate License Act’s requirements to disclose agency?

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  • When and how should license holders disclose who they represent under The Real Estate License Act’s requirements to disclose agency?

A license holder must disclose which party she represents at the first contact with another party or another license holder representing a party in a proposed transaction. For example, disclosure must be provided when a seller’s agent meets the buyer (who is unrepresented or working with an agent), or when a buyer’s agent meets the seller’s agent. In either scenario, the disclosure can be oral or in writing, but it’s easier to prove you’ve made the disclosure if it’s in writing. There is no required language for this disclosure.

Source: TAR

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