Kentucky Sales Agency Agreement with Agent and Client being Business Competitors in Same Market
Description
How to fill out Sales Agency Agreement With Agent And Client Being Business Competitors In Same Market?
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FAQ
Dual agency is illegal in eight states: Alaska, Colorado, Florida, Kansas, Maryland, Oklahoma, Texas and Vermont. The other states have different laws governing the disclosure of dual agency and the behavior of dual agents.
Which of these Kentucky brokers is NOT required to maintain a place of business in the state? (Non-resident Kentucky brokers are not required to maintain a place of business if they have one established in their own state, or their state does not require that they hold a place of business.
Dual agent A real estate agent may act as a double agent representing both the buyer and the seller in a real estate transaction but only with both parties' express consent. A dual agent shall be neutral concerning any conflicting interests of the seller and buyer.
Dual agency is a term used to describe an agency relationship in a transaction where one broker represents both the buyer and the seller. Traditionally the buyer will have an agent, and the seller will have an agent (or one or both of those parties will opt to negotiate for themselves).
DUAL AGENCY: Kentucky law permits a real estate agent and brokerage to represent both the Seller and Buyer in a real estate transaction as long as this is disclosed to both parties and they both agree. This is known as dual agency.
An agency relationship is formed when the agent and a buyer or seller sign an agency disclosure or agreement form. In many cases, the client does not legally have to agree to sign anything. The agreement or disclosure states that the agent is acting on behalf and in the best interest of the client.
To protect your finances and ensure you are selling or buying at the best possible price, it is probably best to avoid dual agency. Buyers or sellers may be inclined to work with a dual agent because they want to obtain confidential information about the person buying or selling the home.
Which of these is considered dual agency? The answer is a licensee acting for both the buyer and the seller in the same transaction.
With dual agency, the Realtor takes on the role of buyer's agent and seller's agent simultaneously in a specific transaction. A home is for sale. The Realtor offers to sell the house for the owner while also representing a buyer interested in the property.
Dual agency is when a single real estate agent represents both the buyer and sellers in a real estate transaction. Designated agency occurs when a buyer and seller are represented by two agents at the same brokerage.
