Sentences with phrase «as dual agents before»
Even if one of those other licensees has long before established an agency relationship with a buyer, if that buyer becomes interested in any of the brokerage's listings, both the seller and the buyer must first agree for their respective licensees and the brokerage to act as dual agents before the seller and buyer can begin negotiating the transaction while using the assistance of those two licensees.
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Just as the informed consent of both parties is required today before a licensee may act as a dual agent, informed consent would be required before a licensee could act as a transaction facilitator.
An important point for brokerages and their related licensees to keep in mind is that their clients must agree to the limitations placed on a licensee's usual duties before the licensee acts as a limited dual agent.
Obtaining informed consent before acting is also necessary if a brokerage or any of its related licensees wishes to alter an existing relationship; for example, to move from acting on behalf of only one party to a trade to acting as a limited dual agent on behalf of both parties.