Under California law, which document is used to disclose and confirm the agency relationships in a residential real estate transaction?
Correct Answer
D) The Agency Disclosure form (AD) and agency confirmation in the purchase agreement
Under California Civil Code §2079.16-2079.17, the Agency Disclosure form (AD form) is used to disclose the possible agency relationships to the buyer and seller. Additionally, the agency relationship is confirmed (elected) in the purchase agreement through the Agency Confirmation section, which states the actual agency relationship in the specific transaction.
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In California, a real estate agent shows a buyer several properties without signing a buyer representation agreement. The buyer ultimately purchases one of the properties. Under California law, the agent who showed the properties is known as the:
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A California listing agent discovers through their visual inspection that a property has a significant foundation defect. The seller instructs the agent to keep this information confidential and not disclose it to buyers. Which of the following best describes the agent's legal obligation?