Q: What is Agency Disclosure?
A: It's The Law!
As of January 1, 2011 a new real estate broker disclosure law went into effect in New York. The disclosure law actually went into effect in January of 2007 but only buyers and sellers of 1-4 family houses were previously required to sign the disclosure form.
As of 1/1/2011 the law requires real estate agents to have clients sign a form stating that they understand whom the agent represents and to whom the agent will give "undivided loyalty," as soon as they enter into a relationship.
The disclosure law is designed to clarify the roles of buyers' and sellers agents, in order to, as the form itself states, "help you make informed choices about your relationship with the real estate broker and its sales associates.
Agency Disclosure:
Corcoran represents the seller/owner on Corcoran's own exclusives, except if another agent of Corcoran represents the buyer/tenant, in which case Corcoran will be a dual agent with designated agents representing seller/owner and buyer/tenant. Corcoran represents the buyer/tenant when showing the exclusives of other real estate firms. In all instances Corcoran treats all parties fairly and honestly .
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courtesy of:
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