Disclosures
When an agent is speaking with either a potential seller or buyer about a parcel of property, the agent should disclose the agent relationship at the earliest practicable time. The disclosure shall take the following form:[1]
(a) Disclosure of Brokerage Relationship.
THIS NOTICE IS REQUIRED BY LAW AND IS NOT A CONTRACT.
THIS DISCLOSURE DOES NOT CREATE A BROKERAGE RELATIONSHIP.
Disclosure of Brokerage Relationship
District of Columbia
Prior to providing specific real estate assistance, District of Columbia law requires that a licensee disclose to any party who the licensee does NOT represent the identity of the party to the proposed transaction who the licensee does represent. Even though a licensee may not represent you, that licensee must still treat you honestly in the transaction.
We, the undersigned q Buyer(s)/Tenant(s) or q Seller(s)/Landlord(s) acknowledge receipt of this Disclosure, and understand we are NOT represented by the licensee identified below.
__________________________________________and____________________
(Licensee & License #) (Brokerage Firm)
The licensee and brokerage firm named above represent the following party in the real estate transaction:
[ ] Seller(s)/Landlord(s) (The licensee has entered into a written listing agreement with the seller(s) or landlord(s) or is acting as a sub-agent of the listing broker.)
[ ] Buyer(s)/Tenant(s) (The licensee has entered into a written agency agreement with the buyer/tenant.)
[ ] Designated Agent of the [ ] Buyer(s)/Tenant(s) or [ ]Seller(s)/Landlord(s)
(Both the buyers and sellers have previously consented to “Designated Agency”, and the licensee listed above is indicating the parties represented.
_________________________________________________________________
Acknowledged Date
_________________________________________________________________
Acknowledged Date
Dual Representation
Some agents may represent both the buyer and the seller. This is known as “dual representation.” It may be preferable because the agent does not have to split the commission and may agree to take a smaller percentage. Dual representation is permitted in DC, but both parties must agree to this arrangement in writing and disclosure requirements are slightly different.[2]