Under California's agency disclosure law, all of the following are required to appear on the agency disclosure form (AD form) EXCEPT:
Correct Answer
C) The commission rate the seller has agreed to pay the listing broker
Civil Code §2079.16 prints the exact wording of the Disclosure Regarding Real Estate Agency Relationships. That text describes the three relationships — seller's agent, buyer's agent, and an agent representing both — and the duties that attach to each, including the fiduciary duty owed to a principal and the duties of reasonable skill and care, honest and fair dealing and good faith, and disclosure of material facts owed to both parties. It also states that an agent may represent both sides only with the knowledge and consent of both. Compensation is never part of that form; the commission rate is set in the listing agreement or the written buyer representation agreement, so the seller's agreed commission rate is the one item here that the form does not contain.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A relationship where a listing broker authorizes other brokers to act as agents of the seller, extending the seller's agency relationship to cooperating brokers.
A non-agency relationship where the broker facilitates a real estate transaction without representing either party, owing limited duties of honesty, fairness, and competence to both.
The legal principle that holds a broker responsible for the actions of their agents and employees performed within the scope of the agency relationship.
More Laws Of Agency Fiduciary Duties Questions
Under California law, the agency disclosure requirements apply to which types of property?
Under California law, when must a buyer's agent give the agency disclosure form to the buyer?
A broker who fails to promptly disclose their dual agency status is subject to:
A broker’s fiduciary obligation to protect a seller’s confidential information continues:
A broker has an exclusive agency listing on a property. If the owner sells the property, the broker is entitled to:
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