INFORMED CONSENT by cYevV8B

VIEWS: 1 PAGES: 1

									                                                             Declaration of Real Estate
                                                        Agency Relationship for Buyer
                                                         INFORMED CONSENT
                                                       DUAL AGENCY ADDENDUM

In reference to the ( ) Exclusive Right to Sell Listing Agreement, ( ) Contract of Sale, ( ) Other:_______________________ covering the
real property known as:
______________________________________________________________________________________________________________
           (In rental transactions, the terms “Buyers” and “Sellers” should be read as “Tenants” and “Landlords”, respectively)
This Agreement evidences the undersigned’s consent that the Brokerage Firm, as Seller’s and/or Buyer’s Agent, may act as Disclosed Dual
Agents in order to represent both Seller and Buyer in the same Real Estate Transaction and seeks the Seller’s and/or Buyer’s consent to
allow Seller’s and/or Buyer’s Agent to act as a Disclosed Dual Agent when the opportunity arises. Seller and/or Buyer should be aware that
a Real Estate Licensee may legally act as a Disclosed Dual Agent only with the Seller’s and Buyer’s informed written consent.

SELLER and/or BUYER understands that Disclosed Dual Agency (representing more than one party to a transaction, has the potential of
creating a conflict of interest in that both Seller and Buyer may intend to rely on the Seller’s and/or Buyer’s Agent’s advice and their
respective interests may be adverse to each other. Therefore, when acting as a Disclosed Dual Agent, Seller’s and/or Buyer’s Agent will
not represent the interests of Buyer to the exclusion and detriment of the interests of Seller; nor will Seller’s and/or Buyer’s Agent
represent the interests of the Seller to the exclusion and detriment of the interests of Buyer.

As a Disclosed Dual Agent of both the Seller and the Buyer, Seller’s and/or Buyer’s Agent will be working equally for both parties to the
Real Estate Transaction and will provide services to complete the transaction without the full range of fiduciary duties ordinarily owed by
an agent who represents Seller alone, or the Buyer alone. In the preparation of Offers and Counteroffers between Seller and Buyer, Seller’s
and/or Buyer’s Agent will act only as an intermediary to facilitate the transaction rather than as an active negotiator representing either the
Seller or Buyer in a fiduciary capacity. By consenting to this Dual Agency, Seller and/or Buyer is giving up the right to undivided loyalty
and will be owed only limited duties of disclosure, obedience and confidentiality by the Seller’s and/or Buyer’s Agent.

FOR EXAMPLE, SELLER AND/OR BUYER ACKNOWLEDGES THAT SELLER’S AND/OR BUYER’S AGENT, AS DISCLOSED
DUAL AGENTS, ARE NOT PERMITTED BY LAW TO:
  1. Recommend a price the BUYER should offer for the property.
  2. Recommend a price the SELLER should accept for the property.
  3. Disclose the price the SELLER will take other than the Listing Price without written permission of the SELLER.
  4. Disclose the price the BUYER is willing to pay other than the offered price without written permission of the BUYER.
  5. Disclose any confidential information obtained from or about the SELLER or BUYER without written permission of the SELLER
     and/or BUYER.
  6. Advise or counsel either the SELLER or BUYER on how to gain an advantage at the expense of the other party on the basis of
     confidential information obtained from or about the other party.
THE SELLER’S AND/OR BUYER’S AGREE THAT THE SELLER’S AND/OR BUYER’S AGENT, AS DISCLOSED DUAL AGENTS,
CAN PROVIDE THE FOLLOWING SERVICES FOR SELLERS AND/OR BUYERS:
  1. We can explain real estate terms and procedures, closing costs and closing procedures.
  2. We can disclose Financial Qualifications of the BUYER to the SELLER.
  3. We can help the BUYER arrange for property inspections and compare financing alternatives.
  4. We will prepare the standard Purchase Agreement Form that will include the standard protections and disclosures for the SELLER
     AND BUYER.
  5. We can provide information about Comparable Properties that have sold to both SELLER and BUYER so they can make an
     informed decision on what price and terms to accept and/or offer.
  6. We will treat the SELLER and BUYER fairly and honestly.
The undersigned acknowledge receipt of the Consumer Information Statement on New Jersey Real Estate Relationships from
broker prior to discussing motivation or financial ability to buy or lease.
If Seller and/or Buyer does not understand all of the provisions of this Informed Consent to Dual Agency legal advice should be sought before signing.
By signing below, Seller’s and/or Buyer’s acknowledge that Seller’s and/or Buyer’s have read and understood this Informed
Consent to Dual Agency and gives consent to Seller’s and/or Buyer’s Agent to act as Disclosed Dual Agents.


Seller’s Signature                               (Date)                                   Buyer’s Signature                                   (Date)

Seller’s Signature                               (Date)                                   Buyer’s Signature                                   (Date)

Salesperson’s Signature                          (Date)                                  Salesperson’s Signature                              (Date)

								
To top