Broker Angela represents the seller in a residential transaction. Broker Derek, from a different firm, represents the buyer. When Derek brings his buyer client to view Angela's listing, which of the following correctly describes the agency disclosure obligations under Indiana law?
Correct Answer
D) Both Angela and Derek must each provide the Indiana written agency disclosure to their respective clients
Under IC 25-34.1-10, each licensee involved in a transaction must provide the Indiana written agency disclosure to the party they are working with. Angela must disclose her agency relationship to the seller (and to the buyer as a courtesy at first substantive contact), and Derek must disclose his buyer agency relationship to his client. Each broker independently bears the disclosure obligation.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An arrangement where a brokerage assigns separate agents within the firm to represent the buyer and seller in the same transaction, allowing each client to have dedicated representation.
A situation where a single agent or brokerage represents both the buyer and the seller in the same real estate transaction.
An agency relationship created by a clear, explicit agreement between the principal and agent, either orally or in writing.
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