Under Tennessee's Agency Relationships in Real Estate Transactions Act, which of the following is NOT a required element of a valid dual agency disclosure and consent process?
Correct Answer
D) The broker-in-charge must personally sign the dual agency consent form on behalf of the firm
Under Tenn. Code Ann. § 62-13-401 et seq., there is no requirement that the broker-in-charge personally sign the dual agency consent form on behalf of the firm. The statute requires written informed consent from both the buyer and seller, obtained before the dual agency relationship proceeds, with appropriate explanation of its limitations. The BIC's personal signature on the consent form is not a statutory element of the dual agency consent process.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The fiduciary obligations owed by a listing agent to the seller, including marketing the property, presenting all offers, and protecting the seller's confidential information.
A practice where the agent or brokerage represents only one party in a transaction — either the buyer or the seller, but never both.
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.
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