Hi everybody, Davis Parks here, Broker of Maximum One Greater Atlanta Realtors. This week's contract tip is about having both sides of a deal without being in dual agency. Now, let's first go back to the definition of dual agency. Dual agency is when one broker, one agent, and that brokerage has a client relationship with both the seller and the buyer. Is dual agency illegal? No. Is it tricky? Yes, it is not illegal as long as there is written disclosure about dual agency and both clients consent to the dual agency. Now, it is important to check with your brokerage to find out their policies on dual agency. Some companies, like Maximum One, do not allow dual agency. Since dual agency involves a client relationship with both the seller and the buyer, let's examine what creates the client relationship. In Georgia, for real property, the client relationship is contractually based. So, what contract would a public buyer and a public seller sign to become a client of the broker? It would be the listing agreement and the buyer brokerage agreement. In the GAR forms, the exclusive listing agreement is F1, and the non-exclusive seller listing agreement is F2. The non-exclusive listing agreement still creates a client relationship between the public seller and the broker. The issue is that it creates a client relationship with multiple brokers, and whichever broker brings about a transaction that closes first gets the commission. The listing service, FMLS, will not accept a listing signed under a non-exclusive broker relationship. So, if you find a property in FMLS, the seller has most likely signed an exclusive listing agreement with that broker. For the buyer, the document that creates the client relationship is the buyer brokerage agreement. In the GAR forms, it is form F4. In the RE...
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Mca 37-51-313 Form: What You Should Know
Montana. Plaza's motion and attached exhibits were denied on several grounds, including that § 37-51-313(4) precludes a buyer agent from representing more than one person and § 37-51-313(4) is not a common law of agency. As a consequence, the court must permit the motion to proceed in court and affirm the denial. (1) the seller represents the buyer and the buyer agent has no right to represent the seller in transactions on the first, second, third, or fourth level; (2) the broker and salesperson do not have control in the sale and there is no real obligation (a) to provide the buyer agent, at an agreed upon time, with all the material information pertaining to the buyer agent's duties and responsibilities in his or her relationship with the seller; (b) to take over for any reason without the buyer agent's consent or approval; or (c) unless the broker has provided such notification as is provided in § 57-14-103; (3) the buyer agent's responsibilities and duties are separate from those of the seller, and they are separate people; (4) the buyer agent's duties and responsibilities are independent of the seller; AND (5) the broker and sales person have no obligation or responsibility to inform the buyer of the sale in a manner that is consistent with the buyer's right to know.
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