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DISCLOSURE OF BROKERAGE RELATIONSHIP EXPLANATION TO CONSUMERS Real estate licensees in Virginia are required by law to make prompt written disclosure of any brokerage relationship to members of the
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How to fill out the disclosure of brokerage relationship:

01
Begin by reviewing the document thoroughly. Familiarize yourself with the purpose and requirements of the disclosure.
02
Provide accurate and complete information in the relevant sections of the disclosure. This may include your personal details, such as name, contact information, and any licenses or certifications you hold.
03
Clearly state the type of brokerage relationship you have with the party involved. This could be a buyer representation, seller representation, or transaction brokerage relationship, among others.
04
If applicable, disclose any potential conflicts of interest that may arise from the brokerage relationship. This could include situations where you have a personal or financial interest in the transaction.
05
Make sure to include any additional clauses or terms that may be required by local laws or regulations. This could involve specific disclosures related to dual agency or other relevant considerations.

Who needs the disclosure of brokerage relationship:

01
Real estate agents and brokers: Real estate professionals must provide the disclosure of brokerage relationship to their clients as a legal requirement. It ensures transparency and helps establish the nature of the relationship between the agent/broker and the client.
02
Buyers and sellers: Clients engaging in a real estate transaction should receive the disclosure of brokerage relationship. It outlines the roles and responsibilities of the real estate agent/broker, helps manage expectations, and ensures the client understands the representation they are receiving.
03
Property investors: Investors involved in real estate transactions should also receive the disclosure of brokerage relationship. It helps protect their interests and ensures a clear understanding of the role of the agent/broker in the transaction.
In summary, filling out the disclosure of brokerage relationship involves providing accurate information, stating the type of brokerage relationship, disclosing any conflicts of interest, and including any required additional clauses. It is necessary for real estate agents/brokers, buyers, sellers, and property investors involved in real estate transactions.
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Disclosure of brokerage relationship is a document that explains the relationship between a real estate agent or broker and their client.
Real estate agents or brokers are required to file disclosure of brokerage relationship.
The disclosure form must be filled out accurately and completely, providing all necessary information about the relationship between the agent or broker and the client.
The purpose of disclosure of brokerage relationship is to provide transparency and clarity to the client about the role of the agent or broker in the real estate transaction.
The disclosure form must include information about the agent or broker's license, any potential conflicts of interest, and the roles and responsibilities of the parties involved in the transaction.
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