In New York, when must a seller's agent provide the Disclosure of Agency Relationship form to a potential buyer who is viewing the listed property?
Correct Answer
A) At the first substantive contact with the potential buyer
Under New York Real Property Law §443, the Disclosure of Agency Relationship form must be provided at the first substantive contact with a consumer, which includes potential buyers viewing the property.
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- → In a New York disclosed dual agency transaction, the seller asks the dual agent: 'What is the lowest price I should accept for this property?' How must the dual agent respond?
- → In New York, what happens if a broker acts as a dual agent without obtaining proper written consent from both parties?
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