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New York Advanced Informed Consent to Dual Agency

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ADVANCED INFORMED CONSENT TO DUAL AGENCY

For residential real property, the use of this form is optional and is to be used as a supplement to the agency disclosure form found in Real Property Law section 443. Licensees who elect to use this form for residential real property must also complete an agency disclosure form.

Seller or Buyer

Name of Brokerage Firm (Broker)

Salesperson

1. By consenting to Dual Agency, the Seller or Buyer acknowledge and agree that the Broker and all associated Associate Brokers and Salespersons are potential Dual Agents. Seller or Buyer have been informed of the possibility of a dual agency arising if a buyer client becomes interested in a seller client's property. Seller or Buyer have consented to this Dual Agency representation in advance and hereby confirm their consent by signing below after reading the following description of the type of representation to be provided.

2. Description of Broker’s Role: Confidentiality and Disclosure of Information:

In Dual Agency, the Broker is acting as agent for both Seller and Buyer in the transaction. Broker shall make every reasonable effort to remain impartial to Seller and Buyer. Seller or Buyer acknowledge that, prior to Dual Agency arising, Broker acted as (exclusive) agent of the Seller and acted as (exclusive) agent of the Buyer. In those separate roles, Broker may have obtained information which, if disclosed, could harm the bargaining position of the party providing such information to Broker. Seller or Buyer agree that Broker shall not be liable to either party for refusing or failing to disclose information which in the sole discretion of Broker would harm one party's bargaining position but would benefit the other party.

Nothing contained herein shall prevent Broker from disclosing to Buyer any known material defects that affect the property value. Broker agrees not to disclose confidential information to the other party, such as (a) to Buyer information about what price or terms Seller will accept other than the listing price and terms or (b) to Seller information about what price or terms Buyer will agree to other than any written offering price.

3. Description of Seller's and Buyer's Role:

Seller or Buyer acknowledge that they are aware of the implications and consequences of Broker's Dual Agency role to facilitate a transaction, rather than act as an advocate for one party over the other and agent, and that they have determined that the benefits of entering into a transaction, with the Broker acting as a Dual Agent outweigh said implications and consequences.

4. Consequences of Dual Agency:

Seller or Buyer are giving up their right to have Broker's undivided loyalty to act at all times solely in their individual best interests to the exclusion of all other interests. Dual agency may thus adversely affect Buyer's and Seller's best interests to the exclusion of all other interests, and may deprive them of benefits they may have otherwise received in a single agency relationship. For example, as a Seller represented by an Agent, Seller has the right to expect that Seller's agent will attempt to obtain the full asking price for the property. As a Buyer, represented by an Agent, Buyer has the right to expect the Agent to work toward bringing about a transaction at the lowest possible price. A Dual Agent will not work on behalf of either party regarding price.

5. In theory, a Dual Agent owes both the Buyer and Seller the same fiduciary duties as if the Agent represented each alone. These duties include loyalty, obedience, disclosure, confidentiality, reasonable care, diligence and the duty to account. By consenting to dual agency, the conflicting duties to Buyer and Seller are reconciled by mutual agreement to modify or forego them. The duty of undivided loyalty is forfeited in a dual agency relationship. In addition, most of the other fiduciary obligations are affected because of the contrasting motivations of Buyer and Seller, who have agreed that the consensual Dual Agent will not favor the interests of one over those of the other.

6. In the event a conflict arises between Buyer and Seller, Broker may elect to withdraw from the transaction because Broker is unable to adequately represent each interest. Where one client discloses confidential information to the Broker which is of such a nature that the Broker cannot fairly give advice to the other without disclosing it, the Broker cannot continue to act as advisor.

7. Buyer and Seller have the absolute right to refuse to consent to a Dual Agency relationship and the representation of an adverse interest by Broker.

8. Buyer and Seller have the right to consent to a Dual Agency relationship, with or without an adjustment in the amount of compensation to the Broker.

9. Buyer and Seller each have the right to retain their own Agent to represent only their interest in a single agency relationship (i.e. Designated Agent, Buyer's Agent or Seller's Agent).

10. Description of Limited Agency Services:

WHAT BROKER AND ITS SALESPERSONS CAN DO FOR SELLERS AND BUYERS WHEN ACTING AS A DUAL AGENT:

We will treat the Seller and Buyer honestly.

We will provide helpful information about the property and neighborhood to the Buyer.

We will respond accurately to questions about the property.

We will disclose all material facts about the property that are known to us.

We will disclose financial qualifications of the Buyer to the Seller.

We can explain real estate terms and procedures.

We can help the Buyer to arrange for property inspections.

We can help the Buyer compare financing alternatives.

We will provide information about comparable properties so the Seller and Buyer may make an educated decision on what price to accept and/or offer.

We will work diligently to facilitate the sale and will advise when experts should be retained (lawyer, tax accountant, architect, etc. ).

We will act as a mediator and make recommendations for compromise between Seller and Buyer.

WHAT BROKER AND ITS SALESPERSONS CANNOT DISCLOSE TO SELLERS AND BUYERS.

We cannot disclose confidential information that we may know about the Seller and/or Buyer (e.g., motivation, to sell/buy; price terms; negotiating strategy), without written permission of the Seller and/or Buyer.

We cannot disclose the price the Seller will take other than the listing price without written permission of the Seller.

We cannot disclose the price the Buyer is willing to pay without written permission of the buyer.

We cannot recommend or suggest a price the Buyer should offer or pay for the property.

We cannot recommend or suggest a price the Seller should accept or counter.

11. Broker will act as an intermediary with respect to Seller and Buyer and except for the fiduciary duties to account for any monies which come into Broker’s possession and the duty to exercise reasonable care; Broker will not have fiduciary duties to either Seller or Buyer to provide "undivided loyalty or obedience".

By signing the agency disclosure form and below, you approve and agree Broker and its Salespersons have provided Advanced Informed Consent to Dual Agency.

YOU SHOULD UNDERSTAND THAT THIS IS BEING PROVIDED AS A MEANS OF INFORMING THE SELLER OR BUYER AS TO DUAL AGENCY. IF YOU DO NOT UNDERSTAND THIS DOCUMENT OR FEEL THAT IT DOES NOT PROVIDE FOR YOUR LEGAL NEEDS, YOU SHOULD CONSULT AN ATTORNEY BEFORE YOU SIGN IT.

Buyer/Seller Date

Buyer/Seller Date

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What the New York Advanced Informed Consent to Dual Agency Is

The New York Advanced Informed Consent to Dual Agency is a written disclosure and consent form used in New York real estate transactions when a single brokerage or licensee will represent more than one party with potentially adverse interests. It documents the nature and limits of the dual representation, identifies the parties and property, and records informed, written consent required under New York law and agency rules. Electronic execution is generally permitted under federal and state e‑signature statutes, provided the record meets applicable consent and retention requirements.

Why a Clear Written Consent Matters

A signed advanced informed consent clarifies duties, reduces conflicts of interest, and creates a record that the parties accepted the limited or shared representation. It helps brokers meet disclosure obligations and creates evidence of consent for regulatory or dispute resolution purposes.

Why a Clear Written Consent Matters

Who Typically Completes This Consent

The form is completed when a single brokerage represents both buyer and seller or multiple principals with overlapping interests.

  • Listing agents who also expect to show or negotiate for prospective buyers in the same transaction.
  • Buyer agents when their brokerage already represents the seller or another interested party in the same deal.
  • Brokerage compliance staff and transaction coordinators managing disclosure records and audit trails.

Completed consents should be retained in the transaction file and provided to all affected parties before substantive negotiations proceed.

Typical Signatories and Their Roles

Listing Agent

The licensed agent representing the seller who discloses any dual or designated agency arrangement and explains material limitations on confidentiality and advocacy to the seller and other parties.

Buyer Agent

The agent representing the buyer who receives the disclosure, acknowledges overlapping representation, and confirms the buyer's informed consent to the scope and limits of representation.

Core Elements Included in a Professional Consent Form

A well-constructed New York Advanced Informed Consent to Dual Agency includes clear, simple language that explains roles, limits, and the consequences of dual representation while preserving a record of informed choice.

Identification

Names of all parties, brokerage names, license numbers, and a clear property description so the consent unambiguously ties to the specific transaction.

Nature of Agency

Plain-language explanation of what dual agency means, including how representation and advocacy will be limited compared with single-party representation.

Scope Limits

Specific activities the broker will and will not perform (e.g., negotiation positions, confidentiality limits, advice on price strategy).

Confidentiality

Disclosure of information the broker will keep confidential and what information may be shared between parties, with examples where helpful.

Compensation

Statement of how the broker will be paid and whether compensation affects any conflicts tied to the dual role.

Consent and Signature

A dated signature block for each party confirming they read, understood, and consent to the terms, plus a signature for the broker or authorized representative.

Required Fields and Essential Data

Party Names: Full legal names
Property: Street address, city, state, ZIP
Brokerage Identity: Broker name and license
Scope Summary: Brief scope statement
Signature Lines: Signed and dated
Effective Date: MM/DD/YYYY

Step-by-Step: Completing the Consent Form

Follow these four steps to prepare, present, and preserve the New York Advanced Informed Consent to Dual Agency.

  • 01
    Prepare Form: Use a broker-approved template with required fields.
  • 02
    Disclose Agency: Verbally and in writing describe the dual relationship.
  • 03
    Obtain Consent: Secure dated signatures from all parties before substantive negotiation.
  • 04
    Archive Record: Store signed copy in the transaction file for retention compliance.

Configuring an Online Consent Workflow

Recommended settings for sending, authenticating, and retaining executed consents in an electronic workflow.

Field Configuration
Document Template Use a standardized, broker-approved template with locked disclosure text.
Authentication Require email plus SMS code or equivalent identity verification.
Signature Order Collect signatures in parallel to avoid delays when multiple parties must sign.
Retention Policy Enable PDF/A archival and audit-trail export for 7+ years.

Delivery Channels and Technical Requirements

Use platforms that produce a tamper-evident signed PDF, capture an audit trail, and support required authentication.

  • Formats Supported: PDF, DOCX accepted
  • Integrations: CRM and cloud storage
  • Authentication: Email, SMS, or stronger

Where to Send or File the Executed Consent

Typical routing: signers receive the consent, sign electronically, receive a copy, and the brokerage files the signed record in its transaction repository.

  • Upload Document: Upload the finalized consent to the signing platform.
  • Assign Signers: Add all parties and broker signers with contact emails.
  • Obtain Signatures: Collect authenticated electronic signatures from all parties.
  • Store Final Copy: Save signed PDF and audit trail in the brokerage file.

Timing: When Consent Must Be Provided

Consent timing is critical: obtain written consent early and document the date to meet regulatory expectations and avoid later disputes.

Before Substantive Negotiations:

Obtain consent before agents begin negotiation or provide strategic advice to both parties.

At First Written Transaction Record:

Include consent when initial written offers or counteroffers are exchanged.

Retention Start Date:

Retention begins on the consent's effective date for recordkeeping purposes.

Amendment Timing:

Amend consents in writing and obtain signatures if the scope of dual agency changes.

Electronic Consent Disclosure:

For consumer-facing consents, follow ESIGN consumer disclosure and consent procedures where required.

Key Transaction Milestones for Consent Records

Track these milestones from disclosure through archival to maintain a defensible record of informed consent.

01

Draft & Review

Prepare consent draft and confirm broker-approved language before sharing.

02

Present to Parties

Deliver disclosure and explain implications verbally and in writing.

03

Obtain Signed Consent

Collect dated signatures from every affected party prior to substantive action.

04

Archive & Audit

Store signed consent and audit trail with transaction documents for compliance.

Common Mistakes to Avoid

  • Failing to obtain written consent before negotiations, leaving only verbal disclosure and creating evidentiary gaps.
  • Using vague language about scope, which can produce disputes over what the broker may or may not do.
  • Mismatched names, incomplete property descriptions, or missing dates that make the consent ambiguous or unenforceable.
  • Relying on an unsigned template or accepting initials when full signatures are required by brokerage policy.

Penalties and Practical Risks of Inadequate Consent

Regulatory Action: License sanctions or fines
Civil Liability: Damages for breach of fiduciary duty
Contract Challenges: Risk that agreements may be voidable
Reputational Harm: Loss of client trust and referrals
Transaction Delays: Renegotiation or re-signing requirements
Recordkeeping Exposure: Failure to retain records can worsen regulatory outcomes

eSignature Vendor Comparison for Executing Consent Forms

Price and capabilities vary by vendor; the table below shows common plan attributes relevant to executing and retaining consent forms electronically.

signNow DocuSign Adobe Sign PandaDoc HelloSign
Starting Price $8/user/mo $15/user/mo $14/user/mo $19/user/mo $15/user/mo
Free Trial 7-day free trial Varies by plan Varies by plan Varies by plan Varies by plan
Bulk Send Yes Yes Yes Yes No
Audit Trail Yes Yes Yes Yes Yes
HIPAA Compliant Yes Yes Yes No No
Envelope Cap No cap 100 envelopes/user/year Varies Varies Varies

Electronic Signature vs Digital Signature: Key Differences

Understand technical and legal contrasts: 'digital signature' is a technical subset of 'electronic signature' with stronger cryptographic attributes.

Criteria Electronic Signature Digital Signature
Definition any electronic mark pki-based cryptographic mark
Legal Status accepted under esign/ueta accepted; stronger non-repudiation
Non-repudiation audit trail evidence certificate-based proof
Typical Use general contracts regulated filings, high-assurance needs

Real-World Scenarios Where Consent Is Used

Two concise examples illustrate practical application and recordkeeping considerations for dual agency consents.

Residential Sale Example

A brokerage lists a home and also brings a buyer to the table; the agent presents the advanced informed consent before discussing offers

  • Consent documents the broker's limited advocacy and confidentiality exceptions
  • The signed consent is stored in the transaction file and included with closing paperwork to support compliance with state disclosure rules and avoid later disputes.

Commercial Lease Example

A firm represents an owner and a prospective tenant in separate negotiations; the broker supplies a written consent describing scope limits

  • Parties acknowledge potential conflicts and compensation disclosures
  • The executed consent is archived and shared with legal counsel, reducing litigation risk and preserving a clear record for auditors.

FAQs: Common Questions About Consent and Electronic Execution

Answers to frequent practical and legal questions about using the New York Advanced Informed Consent to Dual Agency and electronic signatures.


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