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Guidelines for completing the new dual agency paragraph in the listing agreement
QUESTION: I have been reviewing the newly-released version of the Exclusive Right to Sell Listing Agreement (Form 101), and I see that paragraph 17, which covers dual agency, has a number of changes. Why were the changes made? And what suggestions do you have about how listing agents should go over that paragraph when they…July 2022 – Summary of July 2022 Commercial Forms Changes
The following commercial forms have been revised effective July 1, 2022. A summary of the significant changes to each form is included. A marked-up copy of each form showing the exact changes may be viewed by clicking on the name of the form.Can an agent represent both the seller and buyer if they have authorized designated dual agency?
QUESTION: I have a question about the new wording in the “Dual Agency” paragraph in the Exclusive Right to Sell Listing Agreement (Form 101) and the Exclusive Buyer Agency Agreement (Form 201). Let’s say I represent a seller and a buyer. When we entered into our agency agreements, they both: (i) initialed the dual agency…Dual Agency, Designated Dual Agency, and the Role of the BIC
QUESTION: I am the broker-in-charge of a small firm. Recently, one of my agents brought an offer for one of my listings. The buyer and seller have authorized dual agency in writing, but I was not sure whether I was allowed to practice dual agency as a BIC. Is it permissible for a BIC to…July 2022 – Summary of July 2022 Residential Forms Changes
The following residential forms have been revised effective July 1, 2022. A summary of the significant changes to each form is included. A marked-up copy of each form showing the exact changes may be viewed by clicking on the name of the form.When my firm is acting as a dual agent, can I give advice regarding negotiation strategy?
QUESTION: Several weeks ago, I listed a property for sale. After explaining that our firm does not engage in designated dual agency, but does practice “standard” dual agency, my owner-client signed our listing agreement and authorized us to act as a dual agent. One of the other agents at my firm has a buyer-client who…Which boxes should I check on the new WWREA form for buyers?
QUESTION: I am confused by the new WWREA disclosure form for buyers. The form says: “Note to Agent: Check all relationship types below that may apply to this buyer.” If I am working as a buyer agent, it seems that I would check Buyer Agency, Dual Agency, and Designated Dual Agency, because I want to…Can two members of the same “team” be designated agents for a buyer and seller?
QUESTION: I am the Broker-in-Charge of my office. Two of my agents are a husband and wife who have formed an informal "team" for the purpose of sharing both marketing responsibilities and commissions. Several weeks ago, the husband entered into a listing agreement with a property owner. The agreement authorizes both dual and designated agency.…Legal Quiz (May 2018)
A recap of our most popular weekly Q&As from the May 2018 Insight magazine.