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AGENCY DISCLOSURE STATEMENT The real estate agent who is providing you with this form is required to do so by Ohio law. You will not be bound to pay the agent or the agents' brokerage by merely signing

How to fill out agency disclosure statement

How to fill out agency disclosure statement:

1. Start by carefully reading the entire document: Before filling out the agency disclosure statement, it is essential to thoroughly read and understand the entire document. This will ensure that you are aware of the information and disclosures required.
2. Provide accurate and complete information: Fill out the agency disclosure statement with accurate and complete information. This includes your name, the agency or broker involved in the transaction, and any other relevant details requested in the document.
3. Disclose the agency relationship: The main purpose of the agency disclosure statement is to disclose the nature of the agency relationship between the parties involved. Indicate whether you are acting as the seller's agent, buyer's agent, or dual agent. Be sure to check the appropriate box that reflects your role in the transaction accurately.
4. Include any conflicts of interest: If there are any conflicts of interest that may exist, they should be disclosed in the agency disclosure statement. This could include situations where the agent or broker has a personal or financial interest in the transaction or when they have a close relationship with one of the parties involved.
5. Obtain signatures: After completing the agency disclosure statement, ensure that all necessary parties sign and date the document. This typically includes the agent or broker, the buyer, and the seller. Make sure that the signatures are clear and legible.

Who needs agency disclosure statement:

1. Real estate agents and brokers: Real estate professionals, such as agents and brokers, are required to provide an agency disclosure statement to their clients. This helps to establish transparency and inform the clients about the roles and responsibilities of the agent or broker involved in the transaction.
2. Buyers and sellers: Both buyers and sellers in a real estate transaction need to receive and review the agency disclosure statement. It serves as an important document that outlines the agency relationship and any potential conflicts of interest that may exist.
3. Anyone involved in a real estate transaction: In addition to the agents, brokers, buyers, and sellers, other parties involved in a real estate transaction, such as attorneys or escrow officers, may also need access to the agency disclosure statement. This ensures that all parties are aware of the agency relationship and can make informed decisions throughout the transaction process.

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What is agency disclosure statement?

An agency disclosure statement is a document that outlines the relationship between a real estate agent and a client, disclosing the agent's obligations and potential conflicts of interest.

Who is required to file agency disclosure statement?

Real estate agents are required to provide agency disclosure statements to clients at the beginning of their professional relationship.

How to fill out agency disclosure statement?

The agency disclosure statement can be filled out by the real estate agent, providing information on their role, responsibilities, and any potential conflicts of interest.

What is the purpose of agency disclosure statement?

The purpose of the agency disclosure statement is to ensure transparency and establish trust between the agent and client in a real estate transaction.

What information must be reported on agency disclosure statement?

The agency disclosure statement must include the agent's contact information, the scope of their services, any potential conflicts of interest, and the client's rights and responsibilities.