(a) As soon as practicable, the selling agent shall disclose to the buyer and seller whether the selling agent is acting in the real property transaction exclusively as the buyer’s agent, exclusively as the seller’s agent, or as a dual agent representing both the buyer and the seller. This relationship shall be confirmed in the contract to purchase and sell real property or in a separate writing executed or acknowledged by the seller, the buyer, and the selling agent prior to or coincident with execution of that contract by the buyer and the seller, respectively.
(b) As soon as practicable, the listing agent shall disclose to the seller whether the listing agent is acting in the real property transaction exclusively as the seller’s agent, or as a dual agent representing both the buyer and seller. This relationship shall be confirmed in the contract to purchase and sell real property or in a separate writing executed or acknowledged by the seller and the listing agent prior to or coincident with the execution of that contract by the seller.
(c) The confirmation required by subdivisions (a) and (b) shall be in the following form:
(Name of Listing Agent) _____ is the agent of (check one): |
[ ]the seller exclusively; or |
[ ]both the buyer and seller. |
_____ (Name of Selling Agent if not the same as the Listing Agent) _____ is the agent of (check one): |
[ ]the buyer exclusively; or |
[ ]the seller exclusively; or |
[ ]both the buyer and seller. |
(d) The disclosures and confirmation required by this section shall be in addition to the disclosure required by Section 2079.14.
(Added by Stats. 1995, Ch. 428, Sec. 6. Effective January 1, 1996.)
Last modified: October 25, 2018