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ILLINOIS ASSOCIATION OF REALTORS EXCLUSIVE RIGHT TO SELL CONTRACT (DUAL AGENCY DISCLOSURE AND CONSENT INCLUDED) 1. In consideration of the services to be performed by, (Brokerage Company, hereinafter
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How to fill out dual agency disclosure and
How to fill out dual agency disclosure:
01
Obtain the dual agency disclosure form from your real estate agent or broker. This form is typically provided by the agent before the transaction begins.
02
Read the form carefully and understand what it entails. The dual agency disclosure form explains the potential conflicts of interest that may arise when the same agent represents both the buyer and the seller in a real estate transaction.
03
Fill out your personal information, including your name, address, and contact details, in the designated fields on the form.
04
Indicate whether you are the buyer, seller, or both in the transaction by checking the appropriate box or boxes.
05
Review the terms and conditions outlined in the dual agency disclosure form. Make sure you comprehend the potential implications and consequences of dual agency and seek clarification from your agent if needed.
06
Sign and date the form to confirm that you have understood the disclosure and the risks associated with dual agency.
Who needs dual agency disclosure:
01
Buyers and sellers involved in a real estate transaction should be aware of the dual agency disclosure. It applies to anyone who is utilizing the services of a real estate agent or broker to buy or sell a property.
02
Dual agency disclosure is particularly relevant when both the buyer and the seller are represented by the same agent or broker. In this scenario, the agent has a fiduciary duty to both parties and must disclose the potential conflicts of interest that may arise.
03
It is essential for individuals who are engaging in real estate transactions to be informed about their rights, responsibilities, and the potential consequences of dual agency. The dual agency disclosure ensures that all parties have the necessary information to make informed decisions throughout the transaction process.
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What is dual agency disclosure and?
Dual agency disclosure is a document that discloses the relationship between a real estate agent and both the buyer and seller in a real estate transaction.
Who is required to file dual agency disclosure and?
Real estate agents who represent both the buyer and seller in a real estate transaction are required to file dual agency disclosure.
How to fill out dual agency disclosure and?
Dual agency disclosure is typically filled out by the real estate agent and signed by both the buyer and seller.
What is the purpose of dual agency disclosure and?
The purpose of dual agency disclosure is to inform both parties in a real estate transaction that the real estate agent is representing both the buyer and seller.
What information must be reported on dual agency disclosure and?
The dual agency disclosure must include the names of the buyer, seller, and real estate agent, as well as a statement disclosing the dual agency relationship.
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