Agency disclosures are crucial. The potential conflicts that may arise in a dual agency is great and the licensee needs to consider the needs of the buyer and seller before the extra commission that could be earned by representing both buyer and seller. The ramifications of dual agency should be clearly explained to both buyer and seller and both parties must agree to the agreement. There is a separate continuing education class on disclosures. It is highly recommended that all licensees take the disclosures class.
Six HAR Standard Forms have been affected with the revised Mandatory Seller Disclosure law, which was approved and took effect on June 13, 2001, providing clarification as to what must be disclosed by sellers. The following newly revised forms are now available to download.
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