Common use of AS AGENT FOR BOTH Clause in Contracts

AS AGENT FOR BOTH. INTERMEDIARY: To act as an intermediary between the parties the broker must first obtain the written agreement of each party to the transaction. The written agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker’s obligation as an intermediary. A broker who acts as an intermediary: • Must treat all parties to the transaction impartially and fairly; • May with the parties’ written consent, appoint a different license holder associated with the broker to each party (owner and buyer) to communicate with, provide opinion and advise to, and carry out the instructions of each party to the transaction; • Must not, unless specifically authorized in writing to do so by the party, disclose: • that the owner will accept a price less than the written asking price; • that the buyer/tenant will pay a price greater than the price submitted in a written offer; and • any confidential information or any other information that a party specifically instructs the broker in writing not to disclose, unless required to do so by law.