Salesperson James works for Realty Group, Inc. He is showing a property to buyer couple Tom and Lisa. James provides them with the Massachusetts mandatory agency disclosure form, which they sign. James keeps the original signed copy. What should James do with this document according to Massachusetts regulations?
Correct Answer
D) Retain the signed original in the transaction file and provide a copy to Tom and Lisa
Under 254 CMR 3.00, after the consumer signs the agency disclosure form, the licensee must retain the signed original in the transaction file and provide a copy to the consumer. This ensures both the brokerage has a record of compliance and the consumer has documentation of the agency relationship disclosed to them.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The legal principle that holds a broker responsible for the actions of their agents and employees performed within the scope of the agency relationship.
An agency relationship created when a principal's actions or words lead a third party to reasonably believe that an agent has authority, and the principal fails to correct this belief.
An agency relationship created when a principal approves or accepts an agent's previously unauthorized actions, effectively granting authority after the fact.
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