Have you been given the Massachusetts Mandatory Licensee-Consumer Relationship Disclosure?
Have you seen this form?
The Massachusetts Mandatory Licensee-Consumer Relationship Disclosure is often referred to as the Agency Disclosure form. It is required by law that a licensed agent provide you with this form on the first meeting to discuss a specific property. So whether you are buying or selling real estate you should be given this form by every licensed real estate agent you meet with. It is not a contract. When you sign this form you are acknowledging that you have received and read the information.
The form will explain the different types of agency relationships and the relationship you have with the agent that is providing you with it. The types of agency representation are Seller’s Agent, Buyer’s Agent, Facilitator (non-agent), Designated Seller’s and Buyer’s Agent, and Dual Agent.
It is important to have agents that know what is required by law and to abide by it. After all you are hiring them to guide you through a process that has many legal obligations and requirements, and this one is very basic.
Contact us if you have questions about Licensee-Consumer Relationships. You should have this information in the very beginning. John & Cindy Farrell
[…] There are disclosures that you should receive no matter what property you purchase, like the Mandatory licensee – consumer relationship disclosure, lead paint law information, and ones that are particular to a specific property. There is a lot of […]