Agency Disclosure

Effective July 1, 1995, every licensee in the state of New Jersey will be required to advise consumers of real estate services the 4 types of business relationships that they are permitted to engage in. They are: Seller's Agent, Buyer's Agent, Disclosed Dual Agent, and Transaction Broker. The following is a synopsis of what must be disclosed how, and when:

Every licensee must distribute a Consumer Information Statement which describes the types of business relationships in which a licensee may engage:

Seller’s Agent -
works only for the seller
Buyer’s Agent -
works only for the buyer
Disclosed Dual Agent -
works for both the buyer and seller
Transaction Broker -
works with buyer or seller or both without representing anyone. (does not promote interests of one party over the other.)


Feedback