Common use of Real Estate Agency Relationships Clause in Contracts

Real Estate Agency Relationships. Seller’s Agent A seller’s agent is an agent who is engaged by a seller to represent the seller’s interests. The seller’s agent does this by securing a buyer for the seller’s home at a price and on terms acceptable to the seller. A seller’s agent has, with- out limitation, the following fiduciary duties to the seller: reasonable care, undivided loyalty, confidentiality, full disclosure, obedience and duty to account. A seller’s agent does not represent the interests of the buyer. The obligations of a seller’s agent are also subject to any spe- cific provisions set forth in an agreement between the agent and the seller. In dealings with the buyer, a seller’s agent should (a) exercise reasonable skill and care in per- formance of the agent’s duties; (b) deal honestly, fairly and in good faith; and (c) disclose all facts known to the agent materially affecting the value or desirability of property, except as otherwise provided by law. Buyer’s Agent A buyer’s agent is an agent who is engaged by a buyer to represent the buyer’s interests. The buyer’s agent does this by negotiating the purchase of a home at a price and on terms acceptable to the buyer. A buyer’s agent has, without limitation, the following fiduciary duties to the buyer: reasonable care, undivided loyalty, confidentiality, full disclosure, obedience and duty to account. A buyer’s agent does not represent the interest of the seller. The ob- ligations of a buyer’s agent are also subject to any specif- ic provisions set forth in an agreement between the agent and the buyer. In dealings with the seller, a buyer’s agent should (a) exercise reasonable skill and care in perfor- xxxxx of the agent’s duties; (b) deal honestly, fairly and in good faith; and (c) disclose all facts known to the agent materially affecting the buyer’s ability and/or willingness to perform a contract to acquire seller’s property that are not inconsistent with the agent’s fiduciary duties to the buyer. Broker’s Agents A broker’s agent is an agent that cooperates or is engaged by a listing agent or a buyer’s agent (but does not work for the same firm as the listing agent or buyer’s agent) to assist the listing agent or buyer’s agent in locating a property to sell or buy, respectively, for the listing agent’s seller or the buyer agent’s buyer. The broker’s agent does not have a direct relationship with the buyer or seller and the buyer or seller can not provide instructions or direc- tion directly to the broker’s agent. The buyer and the sel- ler therefore do not have vicarious liability for the acts of the broker’s agent. The listing agent or buyer’s agent do provide direction and instruction to the broker’s agent and therefore the listing agent or buyer’s agent will have liability for the acts of the broker’s agent. Dual Agent A real estate broker may represent both the buyer and sel- ler if both the buyer and seller give their informed con- sent in writing. In such a dual agency situation, the agent will not be able to provide the full range of fiduciary du- ties to the buyer and seller. The obligations of an agent are also subject to any specific provisions set forth in an agreement between the agent, and the buyer and seller. An agent acting as a dual agent must explain carefully to both the buyer and seller that the agent is acting for the other party as well. The agent should also explain the possible effects of dual representation, including that by consenting to the dual agency relationship the buyer and seller are giving up their right to undivided loyalty. A buyer or seller should carefully consider the possible con- sequences of a dual agency relationship before agreeing to such representation. A seller or buyer may provide ad- xxxxx informed consent to dual agency by indicating the same on this form. Dual Agent with Designated Sales Agents If the buyer and seller provide their informed consent in writing, the principals and the real estate broker who represents both parties as a dual agent may designate a sales agent to represent the buyer and another sales agent to represent the seller to negotiate the purchase and sale of real estate. A sales agent works under the supervision of the real estate broker. With the informed consent of the buyer and the seller in writing, the designated sales agent for the buyer will function as the buyer’s agent represent- ing the interests of and advocating on behalf of the buyer and the designated sales agent for the seller will function as the seller’s agent representing the interests of and ad- vocating on behalf of the seller in the negotiations be- tween the buyer and seller. A designated sales agent can- not provide the full range of fiduciary duties to the buyer or seller. The designated sales agent must explain that like the dual agent under whose supervision they func- tion, they cannot provide undivided loyalty. A buyer or seller should carefully consider the possible conse- quences of a dual agency relationship with designated sales agents before agreeing to such representation. A sel- ler or buyer may provide advance informed consent to dual agency with designated sales agents by indicating the same on this form. This form was provided to me by Xxxxx Xxxxxx (print name of licensee) of The Xxxxxx Realty Group (print name of company, firm or brokerage), a licensed real estate broker acting in the interest of the:

Real Estate Agency Relationships. SellerLandlord’s Agent A sellerlandlord’s agent is an agent who is engaged by a seller land- lord to represent the sellerlandlord’s interestsinterest. The sellerlandlord’s agent does this by securing a buyer tenant for the sellerlandlord’s home apartment or house at a price rent and on terms acceptable to the sellerlandlord. A sellerlandlord’s agent has, with- out without limitation, the following fiduciary duties to the sellerlandlord: reasonable care, undivided loyalty, confidentiality, full disclosure, obedience and duty to account. A sellerlandlord’s agent does not represent the interests of the buyertenant. The obligations of a sellerlandlord’s agent are also subject to any spe- cific provisions specific pro- visions set forth in an agreement between the agent and the sellerlandlord. In dealings with the buyertenant, a sellerlandlord’s agent should (a) exercise reasonable skill and care in per- formance of the agent’s duties; (b) deal honestly, fairly and in good faith; and (c) disclose all facts known to the agent materially affecting the value or desirability of property, except as otherwise provided by law. BuyerTenant’s Agent A buyertenant’s agent is an agent who is engaged by a buyer tenant to represent the buyertenant’s interestsinterest. The buyertenant’s agent does this by negotiating the purchase rental or lease of a home an apartment or house at a price rent and on terms acceptable to the buyertenant. A buyertenant’s agent has, without limitation, the following fiduciary fidu- ciary duties to the buyertenant: reasonable care, undivided loyalty, confidentiality, full disclosure, obedience and duty to account. A buyertenant’s agent does not represent the interest of the sellerlandlord. The ob- ligations obligations of a buyertenant’s agent are also subject to any specif- ic specific provisions set forth in an agreement between the agent and the buyertenant. In dealings with the sellerlandlord, a buyertenant’s agent should (a) exercise ex- ercise reasonable skill and care in perfor- xxxxx performance of the agent’s duties; (b) deal honestly, fairly and in good faith; and (c) disclose all facts known to the agent materially affecting the buyertenant’s ability and/or willingness to perform per- form a contract to acquire sellerrent or lease landlord’s property that are not inconsistent consistent with the agent’s fiduciary duties to the buyertenant. Broker’s Agents A broker’s agent is an agent that cooperates or is engaged by a listing agent or a buyertenant’s agent (but does not work for the same firm as the listing agent or buyertenant’s agent) to assist the listing agent or buyertenant’s agent in locating a property to sell rent or buy, respectively, lease for the listing agent’s seller landlord or the buyer tenant agent’s buyertenant. The broker’s agent does not have a direct relationship with the buyer tenant or seller landlord and the buyer tenant or seller landlord can not provide instructions or direc- tion di- rection directly to the broker’s agent. The buyer tenant and the sel- ler landlord therefore do not have vicarious liability for the acts of the broker’s agent. The listing agent or buyertenant’s agent do provide direction and instruction to the broker’s agent and therefore the listing agent or buyertenant’s agent will have liability for the acts of the broker’s agent. Dual Agent A real estate broker may represent both the buyer tenant and sel- ler the landlord if both the buyer tenant and seller landlord give their informed con- sent in- DOS-1735-a (Rev. 12/10) formed consent in writing. In such a dual agency situationsitua- tion, the agent will not be able to provide the full range of fiduciary du- ties duties to the buyer landlord and sellerthe tenant. The obligations obli- gations of an agent are also subject to any specific provisions provi- sions set forth in an agreement between the agent, and the buyer tenant and sellerlandlord. An agent acting as a dual agent must explain carefully to both the buyer landlord and seller tenant that the agent is acting for the other party as well. The agent should also explain the possible effects of dual representationrepresen- tation, including that by consenting to the dual agency relationship the buyer landlord and seller tenant are giving up their right to undivided loyalty. A buyer or seller landlord and tenant should carefully consider the possible con- sequences consequences of a dual agency relationship before agreeing to such representationrepresenta- tion. A seller landlord or buyer tenant may provide ad- xxxxx advance informed consent to dual agency by indicating the same on this form. Dual Agent with Designated Sales Agents If the buyer tenant and seller the landlord provide their informed consent con- sent in writing, the principals and the real estate broker who represents both parties as a dual agent may designate a sales agent to represent the buyer tenant and another sales agent to represent the seller to negotiate the purchase and sale of real estatelandlord. A sales agent works under the supervision of the real estate broker. With the informed in- formed consent in writing of the buyer tenant and the seller in writinglandlord, the designated sales agent for the buyer tenant will function as the buyertenant’s agent represent- ing representing the interests of and advocating advo- cating on behalf of the buyer tenant and the designated sales agent for the seller landlord will function as the sellerlandlord’s agent representing the interests of and ad- vocating advocating on behalf be- half of the seller landlord in the negotiations be- tween between the buyer tenant and sellerthe landlord. A designated sales agent can- cannot provide the full range of fiduciary duties to the buyer landlord or sellertenant. The designated sales agent must explain that like the dual agent under whose supervision they func- tionfunction, they cannot provide undivided loyalty. A buyer landlord or seller tenant should carefully consider the possible conse- quences consequences of a dual agency relationship with designated sales agents before agreeing to such representation. A sel- ler landlord or buyer tenant may provide advance informed consent to dual agency with designated sales agents by indicating the same on this form. This form was provided to me by Xxxxx Xxxxxx Xxxx (print name of licensee) of The Xxxxxx Realty Group XXXXXX XXXXXXX NYC (print name of company, firm or brokerage), a licensed real estate broker acting in the interest of the:

Real Estate Agency Relationships. Seller’s Agent A seller’s agent is an agent who is engaged by a seller to represent the seller’s interests. The seller’s agent does this by securing a buyer for the seller’s home at a price and on terms acceptable to the seller. A seller’s agent has, with- out limitation, the following fiduciary duties to the seller: reasonable care, undivided loyalty, confidentiality, full disclosure, obedience and duty to account. A seller’s agent does not represent the interests of the buyer. The obligations of a seller’s agent are also subject to any spe- cific provisions set forth in an agreement between the agent and the seller. In dealings with the buyer, a seller’s agent should (a) exercise reasonable skill and care in per- formance of the agent’s duties; (b) deal honestly, fairly and in good faith; and (c) disclose all facts known to the agent materially affecting the value or desirability of property, except as otherwise provided by law. Buyer’s Agent A buyer’s agent is an agent who is engaged by a buyer to represent the buyer’s interests. The buyer’s agent does this by negotiating the purchase of a home at a price and on terms acceptable to the buyer. A buyer’s agent has, without limitation, the following fiduciary duties to the buyer: reasonable care, undivided loyalty, confidentiality, full disclosure, obedience and duty to account. A buyer’s agent does not represent the interest of the seller. The ob- ligations of a buyer’s agent are also subject to any specif- ic provisions set forth in an agreement between the agent and the buyer. In dealings with the seller, a buyer’s agent should (a) exercise reasonable skill and care in perfor- xxxxx of the agent’s duties; (b) deal honestly, fairly and in good faith; and (c) disclose all facts known to the agent materially affecting the buyer’s ability and/or willingness to perform a contract to acquire seller’s property that are not inconsistent with the agent’s fiduciary duties to the buyer. Broker’s Agents A broker’s agent is an agent that cooperates or is engaged by a listing agent or a buyer’s agent (but does not work for the same firm as the listing agent or buyer’s agent) to assist the listing agent or buyer’s agent in locating a property to sell or buy, respectively, for the listing agent’s seller or the buyer agent’s buyer. The broker’s agent does not have a direct relationship with the buyer or seller and the buyer or seller can not provide instructions or direc- tion directly to the broker’s agent. The buyer and the sel- ler therefore do not have vicarious liability for the acts of the broker’s agent. The listing agent or buyer’s agent do provide direction and instruction to the broker’s agent and therefore the listing agent or buyer’s agent will have liability for the acts of the broker’s agent. Dual Agent A real estate broker may represent both the buyer and sel- ler if both the buyer and seller give their informed con- sent in writing. In such a dual agency situation, the agent will not be able to provide the full range of fiduciary du- ties to the buyer and seller. The obligations of an agent are also subject to any specific provisions set forth in an agreement between the agent, and the buyer and seller. An agent acting as a dual agent must explain carefully to both the buyer and seller that the agent is acting for the other party as well. The agent should also explain the possible effects of dual representation, including that by consenting to the dual agency relationship the buyer and seller are giving up their right to undivided loyalty. A buyer or seller should carefully consider the possible con- sequences of a dual agency relationship before agreeing to such representation. A seller or buyer may provide ad- xxxxx vance informed consent to dual agency by indicating the same on this form. Dual Agent with Designated Sales Agents If the buyer and seller provide their informed consent in writing, the principals and the real estate broker who represents both parties as a dual agent may designate a sales agent to represent the buyer and another sales agent to represent the seller to negotiate the purchase and sale of real estate. A sales agent works under the supervision of the real estate broker. With the informed consent of the buyer and the seller in writing, the designated sales agent for the buyer will function as the buyer’s agent represent- ing the interests of and advocating on behalf of the buyer and the designated sales agent for the seller will function as the seller’s agent representing the interests of and ad- vocating on behalf of the seller in the negotiations be- tween the buyer and seller. A designated sales agent can- not provide the full range of fiduciary duties to the buyer or seller. The designated sales agent must explain that like the dual agent under whose supervision they func- tion, they cannot provide undivided loyalty. A buyer or seller should carefully consider the possible conse- quences of a dual agency relationship with designated sales agents before agreeing to such representation. A sel- ler or buyer may provide advance informed consent to dual agency with designated sales agents by indicating the same on this form. This form was provided to me by Xxxxx Xxxxxx (print name of licensee) of The Xxxxxx Realty Group (print name of company, firm or brokerage), a licensed real estate broker acting in the interest of the:

Real Estate Agency Relationships. SellerLandlord’s Agent A sellerlandlord’s agent is an agent who is engaged by a seller land- lord to represent the sellerlandlord’s interestsinterest. The sellerlandlord’s agent does this by securing a buyer tenant for the sellerlandlord’s home apartment or house at a price rent and on terms acceptable to the sellerlandlord. A sellerlandlord’s agent has, with- out without limitation, the following fiduciary duties to the sellerlandlord: reasonable care, undivided loyalty, confidentiality, full disclosure, obedience and duty to account. A sellerlandlord’s agent does not represent the interests of the buyertenant. The obligations of a sellerlandlord’s agent are also subject to any spe- cific provisions specific pro- visions set forth in an agreement between the agent and the sellerlandlord. In dealings with the buyertenant, a sellerlandlord’s agent should (a) exercise reasonable skill and care in per- formance of the agent’s duties; (b) deal honestly, fairly and in good faith; and (c) disclose all facts known to the agent materially affecting the value or desirability of property, except as otherwise provided by law. BuyerTenant’s Agent A buyertenant’s agent is an agent who is engaged by a buyer tenant to represent the buyertenant’s interestsinterest. The buyertenant’s agent does this by negotiating the purchase rental or lease of a home an apartment or house at a price rent and on terms acceptable to the buyertenant. A buyertenant’s agent has, without limitation, the following fiduciary fidu- ciary duties to the buyertenant: reasonable care, undivided loyalty, confidentiality, full disclosure, obedience and duty to account. A buyertenant’s agent does not represent the interest of the sellerlandlord. The ob- ligations obligations of a buyertenant’s agent are also subject to any specif- ic specific provisions set forth in an agreement between the agent and the buyertenant. In dealings with the sellerlandlord, a buyertenant’s agent should (a) exercise ex- ercise reasonable skill and care in perfor- xxxxx performance of the agent’s duties; (b) deal honestly, fairly and in good faith; and (c) disclose all facts known to the agent materially affecting the buyertenant’s ability and/or willingness to perform per- form a contract to acquire sellerrent or lease landlord’s property that are not inconsistent consistent with the agent’s fiduciary duties to the buyertenant. Broker’s Agents A broker’s agent is an agent that cooperates or is engaged by a listing agent or a buyertenant’s agent (but does not work for the same firm as the listing agent or buyertenant’s agent) to assist the listing agent or buyertenant’s agent in locating a property to sell rent or buy, respectively, lease for the listing agent’s seller landlord or the buyer tenant agent’s buyertenant. The broker’s agent does not have a direct relationship with the buyer tenant or seller landlord and the buyer tenant or seller landlord can not provide instructions or direc- tion di- rection directly to the broker’s agent. The buyer tenant and the sel- ler landlord therefore do not have vicarious liability for the acts of the broker’s agent. The listing agent or buyertenant’s agent do provide direction and instruction to the broker’s agent and therefore the listing agent or buyertenant’s agent will have liability for the acts of the broker’s agent. Dual Agent A real estate broker may represent both the buyer tenant and sel- ler the landlord if both the buyer tenant and seller landlord give their informed con- sent in- formed consent in writing. In such a dual agency situationsitua- tion, the agent will not be able to provide the full range of fiduciary du- ties duties to the buyer landlord and sellerthe tenant. The obligations obli- gations of an agent are also subject to any specific provisions provi- sions set forth in an agreement between the agent, and the buyer tenant and sellerlandlord. An agent acting as a dual agent must explain carefully to both the buyer landlord and seller tenant that the agent is acting for the other party as well. The agent should also explain the possible effects of dual representationrepresen- tation, including that by consenting to the dual agency relationship the buyer landlord and seller tenant are giving up their right to undivided loyalty. A buyer or seller landlord and tenant should carefully consider the possible con- sequences consequences of a dual agency relationship before agreeing to such representationrepresenta- tion. A seller landlord or buyer tenant may provide ad- xxxxx advance informed consent to dual agency by indicating the same on this form. Dual Agent with Designated Sales Agents If the buyer tenant and seller the landlord provide their informed consent con- sent in writing, the principals and the real estate broker who represents both parties as a dual agent may designate a sales agent to represent the buyer tenant and another sales agent to represent the seller to negotiate the purchase and sale of real estatelandlord. A sales agent works under the supervision of the real estate broker. With the informed in- formed consent in writing of the buyer tenant and the seller in writinglandlord, the designated sales agent for the buyer tenant will function as the buyertenant’s agent represent- ing representing the interests of and advocating advo- cating on behalf of the buyer tenant and the designated sales agent for the seller landlord will function as the sellerlandlord’s agent representing the interests of and ad- vocating advocating on behalf be- half of the seller landlord in the negotiations be- tween between the buyer tenant and sellerthe landlord. A designated sales agent can- cannot provide the full range of fiduciary duties to the buyer landlord or sellertenant. The designated sales agent must explain that like the dual agent under whose supervision they func- tionfunction, they cannot provide undivided loyalty. A buyer landlord or seller tenant should carefully consider the possible conse- quences consequences of a dual agency relationship with designated sales agents before agreeing to such representation. A sel- ler landlord or buyer tenant may provide advance informed consent to dual agency with designated sales agents by indicating the same on this form. This form was provided to me by Xxxxx Xxxxxx (print name of licensee) of The Xxxxxx Realty Group (print name of company, firm or brokerage), a licensed real estate broker acting in the interest of the:

Real Estate Agency Relationships. Seller’s Agent A seller’s agent is an agent who is engaged by a seller to represent the seller’s interests. The seller’s agent does this by securing a buyer for the seller’s home at a price and on terms acceptable to the seller. A seller’s agent has, with- out limitation, the following fiduciary duties to the seller: reasonable care, undivided loyalty, confidentiality, full disclosure, obedience and duty to account. A seller’s agent does not represent the interests of the buyer. The obligations of a seller’s agent are also subject to any spe- cific provisions set forth in an agreement between the agent and the seller. In dealings with the buyer, a seller’s agent should (a) exercise reasonable skill and care in per- formance of the agent’s duties; (b) deal honestly, fairly and in good faith; and (c) disclose all facts known to the agent materially affecting the value or desirability of property, except as otherwise provided by law. Buyer’s Agent A buyer’s agent is an agent who is engaged by a buyer to represent the buyer’s interests. The buyer’s agent does this by negotiating the purchase of a home at a price and on terms acceptable to the buyer. A buyer’s agent has, without limitation, the following fiduciary duties to the buyer: reasonable care, undivided loyalty, confidentiality, full disclosure, obedience and duty to account. A buyer’s agent does not represent the interest of the seller. The ob- ligations of a buyer’s agent are also subject to any specif- ic provisions set forth in an agreement between the agent and the buyer. In dealings with the seller, a buyer’s agent should (a) exercise reasonable skill and care in perfor- xxxxx of the agent’s duties; (b) deal honestly, fairly and in good faith; and (c) disclose all facts known to the agent materially affecting the buyer’s ability and/or willingness to perform a contract to acquire seller’s property that are not inconsistent with the agent’s fiduciary duties to the buyer. Broker’s Agents A broker’s agent is an agent that cooperates or is engaged by a listing agent or a buyer’s agent (but does not work for the same firm as the listing agent or buyer’s agent) to assist the listing agent or buyer’s agent in locating a property to sell or buy, respectively, for the listing agent’s seller or the buyer agent’s buyer. The broker’s agent does not have a direct relationship with the buyer or seller and the buyer or seller can not provide instructions or direc- tion directly to the broker’s agent. The buyer and the sel- ler therefore do not have vicarious liability for the acts of the broker’s agent. The listing agent or buyer’s agent do provide direction and instruction to the broker’s agent and therefore the listing agent or buyer’s agent will have liability for the acts of the broker’s agent. Dual Agent A real estate broker may represent both the buyer and sel- ler if both the buyer and seller give their informed con- sent in writing. In such a dual agency situation, the agent will not be able to provide the full range of fiduciary du- ties to the buyer and seller. The obligations of an agent are also subject to any specific provisions set forth in an agreement between the agent, and the buyer and seller. An agent acting as a dual agent must explain carefully to both the buyer and seller that the agent is acting for the other party as well. The agent should also explain the possible effects of dual representation, including that by consenting to the dual agency relationship the buyer and seller are giving up their right to undivided loyalty. A buyer or seller should carefully consider the possible con- sequences of a dual agency relationship before agreeing to such representation. A seller or buyer may provide ad- xxxxx vance informed consent to dual agency by indicating the same on this form. Dual Agent with Designated Sales Agents If the buyer and seller provide their informed consent in writing, the principals and the real estate broker who represents both parties as a dual agent may designate a sales agent to represent the buyer and another sales agent to represent the seller to negotiate the purchase and sale of real estate. A sales agent works under the supervision of the real estate broker. With the informed consent of the buyer and the seller in writing, the designated sales agent for the buyer will function as the buyer’s agent represent- ing the interests of and advocating on behalf of the buyer and the designated sales agent for the seller will function as the seller’s agent representing the interests of and ad- vocating on behalf of the seller in the negotiations be- tween the buyer and seller. A designated sales agent can- not provide the full range of fiduciary duties to the buyer or seller. The designated sales agent must explain that like the dual agent under whose supervision they func- tion, they cannot provide undivided loyalty. A buyer or seller should carefully consider the possible conse- quences of a dual agency relationship with designated sales agents before agreeing to such representation. A sel- ler or buyer may provide advance informed consent to dual agency with designated sales agents by indicating the same on this form. This form was provided to me by Xxxxx Xxxxxx Xxxx (print name of licensee) of The Xxxxxx Realty Group Xxxxxxxx Real Estate (print name of company, firm or brokerage), a licensed real estate broker acting in the interest of the: