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People also ask
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What is the NYS agency disclosure form?
This disclosure will help you to make informed choices about your relationship with the real estate broker and its sales agents. Throughout the transaction you may receive more than one disclosure form. The law may require each agent assisting in the transaction to present you with this disclosure form.
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What is an agency disclosure form?
agency disclosure. a written explanation, to be signed by a prospective buyer or seller of real estate, explaining to the client the role that the broker plays in the transaction.
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What is the purpose of agency disclosure?
The purpose of the agency disclosure form is to protect the client. Upon signing, there is no contractual obligation to exclusively work with that agent, however, this document does make sure that everyone who hires a real estate agent understands the full scope of their relationship dynamic.
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When must the agency disclosure form be presented, explained, and signed?
The listing agent must provide the agency disclosure to a seller or landlord prior to entering into a listing agreement. A seller's or landlord's agent must provide the disclosure to a buyer, buyer's agent, tenant or tenant's agent at the time of first substantive contact.
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What is the primary purpose of agency disclosure in Mississippi?
Before you begin working with any real estate agent, you should know whom the agent represents in the transaction. Mississippi real estate licensees are required to disclose which party they represent in a transaction and to allow a party the right to choose or refuse among the various agency relationships.
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Why is the agency disclosure provided to potential buyers and sellers?
Agents must disclose whom they represent so that buyers and sellers are aware of any conflicts of interest.
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