“What agency forms do I need when my firm represents both parties?”
July 30, 2024
*Please note: Any questions regarding Legal Hotline Spotlights should be submitted via the Virginia REALTORS® Legal Hotline. Our attorneys are unable to respond to questions through our comments section.
Q: If a supervising broker is actively working with buyers and sellers directly and brings a buyer to write an offer on one of her agent’s listings, which agency forms are required?
A: If the supervising broker wants to continue representing the buyer, then she would need to appoint another broker in the firm to act as the dual agent (meaning that broker would have to keep information from both sides confidential). The supervising broker and the other agent could then represent the parties with a designated agency disclosure. Alternately, the supervising broker could allow one of her other agents to represent the buyer, and she herself could become the dual agent. Either way, both sides would need to receive designated agency disclosures.
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