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Save/Print Consumer Information Information Statement Statement Real Estate Relationships Real Estate Relationships In New Jersey In New Jersey T271 Revised 9/02 Consumer Information Statement on.

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The Consumer Information Statement (CIS) defines the four business relationships that a firm may engage in. CIS must be provided in: residential 1-4 family sale transactions. residential single family lot sales.

This practice, whilst common in some parts of the World, is not generally accepted in the UK. Current professional guidance from the RICS states that dual agency should not be undertaken as a general rule, but does not rule it out if all parties to the transaction have expressly consented to it.

There are 8 states where dual agency is illegal: Alaska, Colorado, Florida, Kansas, Maryland, Texas, Vermont and Wyoming.

A dual agent is an individual who acts as both the buyer's and seller's agent in a transaction. It is easy to confuse dual agents with designated agents. But unlike a dual agent, designated agents are two separate individuals representing the buyer or the seller.

Dual agency is when a single real estate agent represents both the buyer and the seller in a real estate transaction. It can also occur when an agent represents both the landlord and the tenant, or when the same real estate company represents both parties in a purchase and sale or rental transaction.

The Consumer Information Statement, which must be delivered to the buyer or seller at the time of the first meeting, helps explain these relationships: Buyer's agent. Seller's agent.

Dual agency is illegal in every fiduciary profession other than real estate (state laws allowing) because of the risks it creates. Therefore many folks outside and within the real estate industry view it as unethical.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232