In New Jersey, real estate licensees are required to disclose how they intend to work with buyers and sellers in a real
estate transaction. (In rental transactions, the terms “buyers” and “sellers” should be read as “tenants” and “landlords”,
respectively.)
1. As a seller's agent or subagent, I, as a licensee, represent the seller and all material information suppliedto me by the buyer will be told to the seller.
2. As a buyer's agent, I, as a licensee, represent the buyer ad all material information supplied to me by the seller ll be told to the buyer.
3. As a disclosed dual agent, I, as a licensee, represent both paties, however, I may not, withou express permission, disclose that the seller ll accept a price less than the listing price or that the buyer will pay a price greater than the offered price.
4. As a transaction broker, I, as a licensee, do not represent either the buyer or the seller. All information I acquire from one party may be told to the other.
Before you disclose confidential information to a real estate licensee regarding a real estate licensee regarding a real
estate transaction, you should understand what type of business relationship you have with that licensee. There are four
business relationships (1) Seller’s Agent; (2) Buyer’s Agent; (3) Disclosed Dual Agent; and (4) Transaction Broker.
Each of these relationships imposes certain legal duties and responsibilities on the licensee as well as on the seller or
buyer represented. These four relationships are defined in greater detail below. Please read carefully before making
your choice.
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