SC Disclosure of Brokerage Relationships - LLR

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At the top of this form it says you are a customer and as of right now, you are a customer and I do not represent you and I do not have to have your best interest in mind.  

Now, by law I have to be honest with you and I have to give you material adverse facts - but I would do that anyway.  

Now - if you decide you need to use me for my clerical services then we can enter you into a Transaction Brokerage.  At that point you would still be a customer.  I will not represent you and do not have to have your best interest in mind, But I can give you the clerical process and step by step of how the Transaction works.  

If you decide to work with me and I decide to work with you then we would enter into an agency relationship and you would turn into a client at that point.

 As a client I do represent you, I do have your best interest in mind and I have to give you 6 fiduciary duties: 

1. I have to be Obedient
2. I must remain Loyal
3. I have to disclose everything I know 
4. I have to treat you with confidentuality (keep everything you tell me confident)
5. Uphold my accounting duties and 
6. Treat you with reasonable skill and care

Of course, I still have to be honest and still give you material adverse facts.  

If we decide to work together and enter into this agency relationship, on page 2 of this disclosure gives you 4 different break downs of agency relationships
We could enter into single agency, dual agency, disclosed dual agency and designated agency. 

Here is a break down of the different types of agencies:

I represent you as the (buyer or seller, whichever applies) and another agent at another firm represents the other party.

Basically what that means is you purchase one of my listings and I would represent you and the seller in the same transaction.  But if this happens, you have the right to agree or disagree (further discussion when or if it happens)

The reason why it says disclosed is because by law I have to tell you if that situation arises.  Again, we can discuss in further detail when it does arise and you have the right to agree or disagree.

This means you sell or buy a home in my firm - Simply means my boss is the other agents boss and both clients are under the same company umbrella as far as agency and representation 

Again, we can go in further detail if that happens and you have the right to agree or disagree.

After being presented with the disclosure and understanding the explanation of the brokerage relationships, you will be required to sign which simply states you were given the disclosure and it was explained to you.  

This is the first signature that will be required in order to move forward in representation.  Keep in mind, it is not a contract or agreement - it is simply a disclosure and is required by law.