bretta: Dual Agency? Is it legal in your state? Check this chart!
- 09/03/07 12:55 AM
Can a Realtor represent both parties in your state? Dual Agency is illegal here in Kansas so we have what is called "Transaction Broker" where we represent neither party and simply write up the contract and let both the buyer and seller know what their options are but we cannot advise them. If we are in this Transaction Broker role, we are to suggest that the parties obtain expert advice but if they choose not to do so, we keep the parties fully informed and assist the parties in closing the transaction. Both parties have no relationship with an agency. I will update this chart as … (5 comments)
bretta: What’s a BRETTA?
- 10/16/06 01:12 AM
For about 12 years there has been a law that requires REALTORS® to fully disclosure the working relationships and legal obligations between Agents and their Clients or Customers. The Brokerage Relationships in Real Estate Transactions Act (BRETTA) clarifies these relationships between brokers, buyers and sellers.
REALTORS® are required to provide a copy of this brochure to their clients or customers at the first possible opportunity. The brochure states “Do not assume that an agent is acting on your behalf, unless you have signed a contract with the agent’s firm to represent you. As a customer, you represent yourself. Any information that you, … (0 comments)
Related Links:
Rob Lang
Local Expert in NE Central Kansas Real Estate Home
Can a Realtor represent both parties in your state? Dual Agency is illegal here in Kansas so we have what is called "Transaction Broker" where we represent neither party and simply write up the contract and let both the buyer and seller know what their options are but we cannot advise them.
;)
;)
;)
