The New York REALTORS Guide to Agency Disclosure

Transcription

1 New York REALTORS Guide Agency Disclosure Amended law effective as January 1, 2011 On August 30, 2010 most recent revisions agency disclosure law were signed by Gov. David Paterson. This amendment includes changes agency disclosure form as it relates dual agency and designated agency as well as requiring agency disclosure form be used for all condominiums and cooperative apartments as well. As such, all s will be required use new form starting January 1, This guide will highlight new changes and help better clarify role a in complying with requirements Real Property Law 443. Changes Agency Disclosure Law first major change is requirement that agency disclosure form be used in all transactions involving condominiums and cooperative apartments. Prior January 1, 2011, condominiums and cooperative apartments were specifically exempt from definition residential real property that would have required use agency disclosure form. Now, with passage new law, exemption has been removed. After January 1, 2011 agency disclosure forms must be used in all transactions involving residential real property, which now includes condominiums and cooperative apartments. Department State Division Licensing Services (DOS) has always considered dual agency be transactional in nature. As a result, clients could not consent dual agency in advance dual agency actually occurring. In a legal memorandum published on DOS website, it was clearly stated: As soon as buyer s agent introduces buyer property in which seller is represented by seller s agent, dual agency arises. (DOS Legal Memorandum LI12). For years, s have been hampered by this narrow approach dual agency. As a result, s who represented consumers as a buyer s agent were unable show properties listed with ir brokerage unless buyers agreed change agency relationships and have show property as a seller s agent, or buyer and seller both consented dual agency and acknowledged same by signing agency disclosure form. Only n could show buyer property listed by ir brokerage. As a result, buyers were forced change agency relationships with, reby losing fiduciary duties owed by buyer s agent if sellers did not consent dual agency or were unable be reached prior showing (which disadvantaged seller because fewer buyers were viewing property). With new changes agency disclosure law, consumers can now consent dual agency and dual agency with designated sales agents in advance dual agency actually arising. Changes statute not found on form first change involves definition residential real property. new definition includes condominiums and cooperative apartments, and is defined as real property used or occupied, or intended be used or occupied, wholly or partly, as home or residence one or more persons improved by (i) a one--four family dwelling or (ii) a condominium or cooperative apartments,

2 New York REALTORS Guide Agency Disclosure continued from page 15 but shall second not refer change not unimproved found on form real property is addition upon which two new such paragraphs dwellings defining be advanced constructed. consent As can dual be and seen, designated vacant are land agency. and commercial Real Property property Law 443(1) are exempt now contains following definitions: from requirement using form, but p. Advanced Consent Dual Agency re means is still written an obligation consent signed under by 19 NYCRR Seller/ Landlord make or Buyer/Tenant it clear for which that party Listing he is acting. Agent and/or Although buyer s this agent can may be done act as verbally, a Dual it Agent is highly for that recommended Seller/Landlord that and disclosure a Buyer/ Tenant for residential real property which is agency relationships be acknowledged subject a listing agreement. in writing. q. Advanced Consent Dual Agency with Designated Sales Agents means written consent second signed change by not Seller/Landlord found on or Buyer/ form is Tenant addition that indicates two new paragraphs name defining agent advanced appointed consent represent dual Seller/Landlord designated or Buyer/Tenant as a Designated Sales Agent for agency. Real Property Law 443(1) now residential real property which is subject contains a listing agreement. following definitions: Overall, changes form and p. Advanced addition Consent definitions Dual Agency will help means written simplify consent disclosure signed by process Seller/Landlord for s. or Buyer/Tenant option allow that sellers Listing and Agent buyers and/ consent dual agency and designated agency or buyer s agent may act as a Dual Agent for will benefit both consumers and s as that y Seller/Landlord all now have fill and out a numerous Buyer/Tenant agency for residential disclosure real forms property in dual which agency is situations. subject a listing agreement. When do you need fill out q. an Advanced agency Consent disclosure Dual form? Agency with Designated Licensees Sales are Agents required means by law and written regulation disclose consumers what type consent signed by Seller/Landlord or Buyer/ agency relationship that is currently Tenant acting that under. indicates Generally, a name is required agent appointed make it clear represent for which party Seller/Landlord he is acting. or Buyer/Tenant 19 NYCRR as a Designated This requirement Sales Agent applies for residential all s real property regardless which is type subject real property being sold or leased. Although a listing agreement does not require a utilize a form disclose s agency Overall, relationship, changes s should be form diligent and in addition ir disclosure definitions consumers exactly will help what simplify type agency disclosure relationship process for s. acting In addition, under. option allow sell- is Article 12-A Real Property Law sets ers and buyers consent dual agency forth mandary requirements relating and disclosure designated agency agency relationships. will benefit Pursuant both consumers Real Property and s Law 443(2), from This having section fill out numerous agency disclosure forms in dual agency situations. 16 MARCH/APRIL 2011 shall only apply transactions involving issue with first substantive contact is residential When do real you property. need Residential fill out real an landlord, except as provided in paragraph e property agency is disclosure defined as real property form used or no definition this subdivision. as what would Seller s constitute and landlord s occupied, or intended be used or occupied, agents are required under RPL 443(3)(b) wholly Licensees or partly, are required as home by law or residence and regulation has used provide warm disclosure body approach form when set forth in one disclose or more persons consumers improved what by (i) type a one-ur relationship family dwelling that or (ii) a condominium is currently or acting warm body approach is as simple as it agency addressing subdivision first four substantive this contact. section a buyer, buyer s agent, tenant or tenant s agent at cooperative under. Generally, apartments, a but shall not is required refer sounds. If a comes in contact with unimproved real property upon which such a consumer time in one first substantive scenarios contact set forth with make it clear for which party he is acting. dwellings are be constructed. agency in RPL 443(3)(a)-(c), buyer or tenant and disclosure shall obtain must be a signed disclosure 19 NYCRR form required This under requirement RPL 443(4) applies presented. acknowledgement re are from course some buyer exceptions except as warm provided body approach; in paragraph most e this or tenant, must all be s presented regardless and acknowledged type by real a property consumer being pursuant sold or RPL 443(3)(a)-(c). leased. Although subdivision. Likewise, a buyer s or tenant s 1995, agent that states pursuant a seller s RPL 443(3)(c) agent does not must Listing agents does not are required a provide utilize has provided an opinion letter dated August form a consumer pursuant RPL 443(3) 18, a form disclose s agency (a), which states: A listing agent shall provide have provide present a disclosure form every buyer or relationship, s should be diligent in disclosure form set forth in subdivision person tenant who prior attends an entering open house in where an agreement no four ir disclosure this section a consumers seller or landlord exactly prior what substantive act as contact buyer s has been agent made or tenant s (broker agent type entering agency in a listing relationship agreement with is greeting and shall people, obtain showing a signed m acknowledgment house, seller acting or under. landlord and shall obtain a signed providing general information and answering from buyer or tenant, except as provided acknowledgment from seller or landlord, questions about property). Substantive except as provided in paragraph e this contact in paragraph occurs should e this a buyer subdivision. express serious agent interest or tenant s in discussing agent shall terms provide an form A buyer s Article 12-a Real Property Law sets subdivision. Seller s and landlord s agents forth mandary requirements relating are required under RPL 443(3)(b) provide fer or where seller, a seller s agent, is landlord helping or a landlord s identify agent suitable at time property. first substantive disclosure disclosure form agency set relationships. forth in subdivision Pursuant buyer four Real this Property section Law a buyer, 443(2), buyer s This agent, section Anor exception warm body contact with seller or landlord and shall tenant shall only or tenant s apply agent at transactions time involving first approach is one that is occurring with substantive contact with buyer or tenant greater obtain frequency a signed in acknowledgment modern technology seller, driven landlord market, consumers or listing agent, ing, except as from residential real property. Residential real and shall obtain a signed acknowledgement property is defined as real property used from buyer or tenant, except as provided faxing, provided telephoning paragraph or communicating e this subdivision. in or paragraph occupied, e or this intended subdivision. be Likewise, used or oc-vicupied, buyer s wholly or tenant s or partly, agent as pursuant home or decision As can by an be administrative seen by RPL 443(3)(a)-(c), law judge, it Internet with s. Through a a RPL 443(3)(c) residence one must or provide more persons disclosure improved can be determined what standard s agency disclosure form set forth in form by (i) a one--four buyer or tenant family prior dwelling entering in an agreement act as buyer s contact RPL 443(4) with a consumer must be is through presented , a con- or (ii) a will be held in a situation where only condominium or cooperative apartments, agent or tenant s agent and shall obtain a fax, sumer telephone at first or via substantive Internet. contact. In case but shall not refer unimproved real signed acknowledgment from buyer or DOS v. Holzbach tenant, property except upon as provided which in such paragraph dwellings e are issue had been with communicating first substantive with contact a is this be subdivision. constructed. A buyer s agent agency or tenant s disclosure consumer that Department represent State consumer (DOS) as provides a agent form shall required provide under form RPL 443(4) seller, must be buyer s agent. On April 25, 2001, no definition as what would constitute seller s presented agent, and landlord acknowledged or landlord s by a consumer agent and consumer agreed via telephone that at time first substantive contact first substantive would represent contact. consumer In past, as DOS pursuant RPL 443(3)(a)-(c). Listing with seller or landlord and shall obtain a buyer s has used agent. No warm agency body disclosure approach form when a agents signed are acknowledgment required provide from seller, form was addressing provided first any manner substantive at this time. contact. On landlord a consumer or listing pursuant agent, except RPL 443(3)(a), as provided May warm 6, 2001, body approach and is consumer as simple as it in which paragraph states: e A this listing subdivision. agent shall provide met sounds. for first If a time and a comes backdated in agency contact with As disclosure can be seen form by set RPL 443(3)(a)-(c), forth in subdivision disclosure form was provided. administrative law judge determined that although a consumer in one scenarios set forth agency disclosure form set forth in four this section a seller or landlord RPL 443(4) must be presented a consumer in buyers RPL 443(3)(a)-(c), were not present in disclosure Rochester at must be prior entering in a listing agreement at first substantive contact. presented. time that re contact, are evidence course some amply exceptions warm body approach; most with seller or landlord and shall obtain a signed acknowledgment from seller or prevalent which being open houses. DOS

3 demonstrates that form could have been has provided faxed an m opinion and letter that y dated could August have 18, 1995, faxed that back states ir a seller s acknowledgements. agent does not have backdating present a disclosure form, although form intended every person who show attends when an first open substantive house where contact no substantive was, improperly contact muddied has been issue made and was a demonstration incompetency. DOS v. (broker greeting people, showing m Holzbach house, foreseeable providing that general same information standard should and answering be applied questions in scenarios about involving property). s Substantive communicating contact with occurs consumers should via buyer , express fax serious or via interest Internet. in discussing agency disclosure form can be provided consumer via terms an fer or where seller s agent helping buyer identify suitable property. Anor fax, or by download from Internet exception at its real estate warm broker/salesperson body approach is page). one that is occurring decision clearly with states greater that frequency in could modern have technology satisfied driven requirements market, consumers RPL 443(3)(c) ing, by faxing, telephoning agency disclosure form consumer, have or communicating via Internet with consumer sign form and fax it back s. Through. a As decision such, by an same administrative hold law true judge, for s it can be communicating determined what with should standard consumers s where will no be warm held body in a meeting situation where occurs at only first substantive contact with contact. a consumer When dual agency is discussed with is through , fax, telephone or via client, client will have option Internet. indicate In ir case consent DOS v. Holzbach, dual agency 49 DOS in 02 advance (2002), by a indicating had been same communicating agency with disclosure a consumer form. Advanced represent consent on consumer dual as agency a buyer s with agent. designated On April sales agents 25, 2001, can be done in and same consumer manner. agreed only difference is that seller, landlord, buyer via telephone that would represent consumer as a designated as a buyer s agent should agent. it No arise. or tenant will be able designate a specific agency It disclosure not required form that was both provided designated in agents any manner are at filled this in time. when advanced On May consent 6, 2001, is given. In and or words, consumer when a met seller for consents first dual agency with designated sales agents time and a backdated agency disclosure form in advance, it is likely that seller will was provided. designate ir administrative listing agent law (unless judge determined listing agent that although is principal buyers broker were since not present principal brokers Rochester are prohibited at time from that acting contact, as a designated evidence agent). amply Likewise, demonstrates a buyer that will form most could likely have designate been faxed ir m buyer s agent as ir designated agent (except in and that y could have faxed back ir instance where buyer s agent is acknowledgements. principal). Once dual agency backdating with designated form, sales although agents intended arises, both sides show will when know first substantive identity contact or designated was, improperly agent. muddied issue and was a demonstration incompetency. DOS v. Holzbach, 49 DOS 02 State, (2002). NYSAR As such, has clarified it is foreseeable responsibility that same a standard once should dual be agency applied or dual in scenarios agency involving with designated s sales communicating agents arises. If dual with consumers agency arises via , as a result fax or via a showing, Internet. agency is disclosure not required can be notify provided seller immediately since seller should reasonably presume that dual agency showings consumer via fax, or by download from will occur Internet during (DOS time has form listing. available However, for download it is highly at its recommended real estate broker/ that salesperson seller be page). informed as decision all instances clearly states dual that agency that are could result have a showing. satisfied This notification can be done via telephone, requirements RPL 443(3)(c) by faxing (using address provided by seller), agency fax disclosure (using form fax number consumer, provided have by seller) consumer or by letter. sign As always, form NYSAR and fax it back recommends. all notices be As in such, writing, so same should hold will true have for documented s communicating pro any such with notification. consumers where no warm body After dual agency arises, if a potential meeting occurs at first substantive contact. purchaser begins negotiations any type, it is required that contact On seller March and 18, inform 2011, m Department that re is a State, dual Division agency situation Licensing where Services buyer (DOS) is showing issued an interest opinion in letter creating property. anor Again, this exception notification can be substantive contact. done via telephone, (using address provided by seller), fax (using fax number provided by seller) request or by letter. DOS In addressed order minimize an issue that was potential occurring for liability, in situations all notices where should a buyer s be in agent writing was and showing made a at property time and negotiations listing agent or immediately was present. reafter. According If a dual Real agency Property showing Law 443(3)(b), results in listing presentation agent was required provide agency disclosure form a purchase fer, it is recommended that signed agency disclosure forms be attached buyer purchase or buyer s fer so it agent is clear be signed seller by and buyer. that 443(3)(b) transaction states: is dual A agency seller s agent in nature. or landlord s re is agent nothing shall prohibiting provide a disclosure from form having a ir buyer, client(s) buyer s execute agent, a new agency disclosure form at time tenant or tenant s agent at time first contract memorialize ir understanding substantive a s contact agency with status. buyer or tenant and shall Licensees obtain should a signed be acknowledgement aware that dual from agency buyer must be or discussed tenant, except with as seller provided and/ in paragraph or buyer at e onset this subdivision. discussions concerning overall effect agency. this requirement law specifically was states that listing that client is agreeing advanced informed agents were giving disclosure forms every consent. This means client must be fully buyer informed that was viewing all aspects a property dual where agency. listing Clients agent need was be present fully informed and buyers as were signing numerous agency disclosure forms when y came in contact with listing fiduciary obligations y will be losing by agreeing agent at a showing dual agency even as well. though Licensees buyer must was in make it presence perfectly clear ir what buyer s client agent. is consenting and how it will affect representation In opinion, y DOS are states: receiving a from broker does not have substantive contact with a party violation Article 12-A Real Property when that party is in presence his disciplinary or her own action. broker. In such situations, any considerable Upon signing discussions agency disclosure or discussions form, involving matters must provide major a copy or practical form importance, consumer. will take 19 place NYCRR between states brokers. as follows: As such, A real it is estate my opinion broker shall that a immediately deliver a duplicate original broker any instrument does not have any party provide or an parties Agency executing Disclosure Form same, where a consumer such instrument if broker has been substantive prepared contact by such broker that occurs or under in his presence supervision a consumer and where who such is instrument accompanied relates by his or her employment own real estate broker. or If any matters pertaining consummation a lease, or purchase, sale or party is unrepresented by a broker, is represented but real unaccompanied, property or any or or is accompa- type exchange nied real by estate a broker transaction who is acting which as he a landlord/ may participate seller or dual as a broker. agent, disclosure form must If at be first provided. substantive 19 NYCRR contact with serves consumer, a provides agency a similar purpose RPL 443 and provides disclosure form a consumer and consumer that s refuses must sign make form, it clear RPL 443(3) who y (e) are provides representing in with transaction. a mechanism Even in by those which situations where can parties document are accompanied RPL 443(3)(e) by ir own states: agents, If each agent seller, has refusal. buyer, an obligation landlord or ensure tenant refuses that or sign an party acknowledgment receipt pursuant this understands who represents in subdivision, agent shall set forth under oath transaction. or affirmation Merely a written because declaration agents are excused facts from presenting refusal and Agency shall maintain Disclosure a Forms copy in certain declaration circumstances for not less does than not release m years. from If a this duty. is Licensees involved in should a three situation where a consumer refuses sign also keep in mind that a benefit 443 is that agency disclosure form, should clearly it serves state as evidence name(s) that a broker consumer(s) disclosed and his or her facts agency surrounding status. As refusal such, even in acknowledgement. those situations where It should Agency be noted Disclosure that RPL 443(3)(e) Forms are not is required, only applicable brokers in may those consider presenting where a one consumer a represented refuses sign party. situations form. It would be contrary statute if were follow provisions As RPL 443(3)(e) can be seen, for DOS any does or not reason consider such this as scenario be forgot substantive bring contact agency and as disclosure such, no disclosure form with m. form is required. Any that encounters continued such a scenario on page 18must still fully comply with 19 NYCRR New York State REALTOR 17

4 and make it clear all parties involved, for whom y are acting. A simple disclosure a buyer and buyer s agent I represent seller or I represent buyer a seller and seller s agent should satisfy provisions 19 NYCRR Licensees should still complete agency disclosure forms in all or residential, condominium and cooperative unit/apartment dealings where substantive contact occurs. When dual agency is discussed with client, client will have option indicate ir consent dual agency in advance by indicating same on agency disclosure form. Advanced consent dual agency with designated sales agents can be done in same manner. only difference is that seller, landlord, buyer or tenant will be able designate a specific as a designated agent should it arise. It is not required that both designated agents are filled in when advanced consent is given. In or words, when a seller consents dual agency with designated sales agents in advance, it is likely that seller will designate ir listing agent (unless listing agent is principal broker since principal brokers are prohibited from acting as a designated agent). Likewise, a buyer will most likely designate ir buyer s agent as ir designated agent (except in instance where buyer s agent is principal). Once dual agency with designated sales agents arises, both sides will know identity or designated agent. In discussions with Department State, NYSAR has clarified responsibility a once dual agency or dual agency with designated sales agents arises. If dual agency arises as a result a showing, is not required notify seller immediately since seller should reasonably presume that dual agency showings will occur during time listing. However, it is highly recommended that seller be informed as all instances dual agency that are result a showing. This notification can be done via telephone, (using address provided by seller), fax (using fax number provided by seller) or by letter. As always, NYSAR recommends all notices be in writing, so will have documented pro any such notification. After dual agency arises, if a potential purchaser begins negotiations any type, it is required that contact seller and inform m that re is a dual agency situation where buyer is showing interest in property. Again, this notification can be done via telephone, (using address provided by seller), fax (using fax number provided by seller) or by letter. In order minimize potential for liability, all notices should be in writing and made at time negotiations or immediately reafter. If a dual agency showing results in presentation a purchase fer, it is recommended that signed agency disclosure forms be attached purchase fer so it is clear seller and buyer that transaction is dual agency in nature. re is nothing prohibiting a from having ir client(s) execute a new agency disclosure form at time contract memorialize ir understanding a s agency status. Licensees should be aware that dual agency must be discussed with seller and/or buyer at onset discussions concerning agency. law specifically states that client is agreeing advanced informed consent. This means client must be fully informed as all aspects dual agency. Clients need be fully informed as fiduciary obligations y will be losing by agreeing dual agency as well. Licensees must make it perfectly clear what client is consenting and how it will affect representation y are receiving from. Failure do so can be considered a violation Article 12-A Real Property Law and may subject DOS disciplinary action. Upon signing agency disclosure form, must provide a copy form consumer. 19 NYCRR states as follows: A real estate broker shall immediately deliver a duplicate original any instrument any party or parties executing same, where such instrument has been prepared by such broker or under his supervision and where such instrument relates employment broker or any matters pertaining consummation a lease, or purchase, sale or exchange real property or any or type real estate transaction in which he may participate as a broker. If at first substantive contact with consumer, a provides agency disclosure form a consumer and consumer refuses sign form, RPL 443(3) (e) provides with a mechanism by which can document refusal. RPL 443(3)(e) states: If seller, buyer, landlord or tenant refuses sign an acknowledgment receipt pursuant this subdivision, agent shall set forth under oath or affirmation a written declaration facts refusal and shall maintain a copy declaration for not less than three years. If a is involved in a situation where a consumer refuses sign agency disclosure form, should clearly state name(s) consumer(s) and facts surrounding refusal acknowledgement. It should be noted that RPL 443(3)(e) is only applicable in those situations where a consumer refuses sign form. It would be contrary statute if were follow provisions RPL 443(3)(e) for any or reason such as forgot bring agency disclosure form with m.

5 Figure A Listing agent or subagent seller demonstrates how a should fill out agency disclosure form when is representing seller s best interest as a seller s agent. Licensees should utilize this method completing form when is listing agent, s brokerage is listing brokerage, or is a sub-agent seller. (X) Seller as a with designated sales agents Figure B Brokers agent seller demonstrates how a should fill out agency disclosure form when is representing seller s best interest as a broker s agent. Licensees should utilize this method completing form when is agent a listing broker from anor non-affiliated brokerage. (X) Seller as a ( ) Seller s agent (X) Broker s agent ( ) Broker s agent with designated sales agents Figure C Listing agent with advanced informed consent dual agency demonstrates how a should fill out agency disclosure form when is representing seller s best interest as a seller s agent and seller has also consented dual agency in advance. Licensees should utilize this method completing form when is listing agent, s brokerage is listing brokerage and seller has consented dual agency in advance. (X) Seller as a with designated sales agents For advance informed consent eir dual agency or dual agency with designated sales agents ( ) Advance informed consent dual agency with designated sales agents Figure D Listing agent with advanced informed consent dual and designated agency demonstrates how a should fill out agency disclosure form when is representing seller s best interest as a seller s agent and seller has also consented dual agency and designated agency in advance. Licensees should utilize this method completing form when is listing agent, s brokerage is listing brokerage and seller has consented dual agency and designated agency in advance. (X) Seller as a with designated sales agents For advance informed consent eir dual agency or dual agency with designated sales agents (X) Advance informed consent dual agency with designated sales agents buyer; and John Doe seller in this transaction. Figure E Buyers agent demonstrates how a should fill out agency disclosure form when is representing buyer s best interest as a buyer s agent. Licensees should utilize this method completing form when is agent buyer or s brokerage is an agent buyer. ( ) Seller as a (X) Buyer as a with designated sales agents Figure F Buyers agent with advanced informed consent dual agency demonstrates how a should fill out agency disclosure form when is representing buyer s best interest as a buyer s agent and buyer has consented dual agency in advance. Licensees should utilize this method completing form when is buyer s agent or s brokerage is agent buyer and buyer has consented dual agency in advance. ( ) Seller as a (X) Buyer as a with designated sales agents For advance informed consent eir dual agency or dual agency with designated sales agents ( ) Advance informed consent dual agency with designated sales agents Figure G Buyers agent with advanced informed consent dual and designated agency demonstrates how a should fill out agency disclosure form when is representing buyer s best interest as a buyer s agent when buyer has consented dual agency and designated agency in advance. Licensees should utilize this method completing form when is buyer s agent or s brokerage is agent buyer and buyer has consented dual agency and designated agency in advance. ( ) Seller as a (X) Buyer as a with designated sales agents For advance informed consent eir dual agency or dual agency with designated sales agents (X) Advance informed consent dual agency with designated sales agents Jennifer Jones buyer; and seller in this transaction. Figure H Traditional dual agency (not advanced consent) demonstrates how a should fill out agency disclosure form when is a dual agent. Licensees should utilize this method completing form when both sides transaction are represented by s brokerage, but not as a seller s or buyer s agent. ( ) Seller as a ( ) Seller s agent (X) Dual agent with designated sales agents Figure I Traditional designated agency (not advanced consent) demonstrates how a should fill out agency disclosure form when is a designated sales agent. Licensees should utilize this method completing form when consumers consent designated agency and agree have two different s from same brokerage represent best interest each respective party. One will be designated by broker and seller represent seller and one will be designated by broker and buyer represent buyer. It should be noted that broker remains a dual agent and can never be a designated agent. ( ) Seller as a ( ) Seller s agent (X) Dual agent with designated sales agents For advance informed consent eir dual agency or dual agency with designated sales agents ( ) Advance informed consent dual agency ( ) Advance informed consent dual agency with designated sales agents Jennifer Jones buyer; and John Doe seller in this transaction.