DISCLOSURE REGARDING REAL ESTATE AGENCY RELATIONSHIPS
(As required by Alaska Statue 08.88.396)
A Seller’s agent, under a listing agreement with the Seller, acts as the agent for the Seller only. A Seller’s agent or a subagent of the Seller has the following affirmative obligations to the Buyer:
(a) A duty of good faith, fair dealing and honesty in fact.
(b) A duty to disclose all defects known to the agent materially affecting the value, desirability or condition of the property, or known legal defects pertaining to the property.
An agent is not obligated to reveal to the Buyer any confidential information obtained from the Seller, which is not included in the affirmative duties, set forth above.
THE AGENT AS A BUYER’S AGENT
An agent can, with a Buyer’s consent, agree to act as the agent for the Buyer only. In these situations, the agent may receive compensation for services rendered, either in full or in part from the Seller. An agent acting only for a Buyer has the following affirmative obligations to the Buyer:
(a) A fiduciary duty of utmost good faith, integrity, honesty in fact, and loyalty in dealings with the Buyer.
(b) Exercise of reasonable skill and care in performance of the agent’s duties.
(c) A duty of good faith, fair dealing and honesty in fact.
(d) A duty to disclose all defects known to the agent materially affecting the value, desirability or condition of the property, or known legal defects pertaining to the property.
THE AGENT AS A JOINT AGENT (FOR BOTH THE SELLER AND THE BUYER)
A real estate agent may act as an agent of both the Seller and the Buyer but only with the knowledge and written consent of both the Seller and the Buyer. In this “Joint Agency” relationship the agent owes, to both the Seller and the Buyer, the affirmative duties stated above in their respective sections. In representing both the Seller and the Buyer the agent may not, without the express permission of the respective party:
(a) Disclose to the Buyer that the Seller will accept a price less than the listed price.
(b) Disclose to the Seller that the Buyer will pay a price greater than the price offered.
(c) Disclose confidential information received from either party to the other party other than material facts about the property.
THE FOLLOWING AGENCY RELATIONSHIP IS HEREBY CONFIRMED:
As of this date, , the agent of
(Salesperson’s Name)
is the agent of:
(Company’s Name)
the Seller exclusively the Buyer exclusively both the Seller and the Buyer (Joint Agent)
The above duties of the agent in a real estate transaction do not relieve a Buyer from the responsibility to protect their own interests. You should carefully read all agreements and consult your attorney to assure they adequately express your understanding of the transaction. A real estate agent is a person qualified to advise about real estate.
I/WE ACKNOWLEDGE RECEIPT OF A COPY OF THIS DISCLOSURE.
Buyer Date Time (am/pm)
Buyer Date Time (am/pm)
Reviewed by Broker . Date .
SELLER’S CONFIRMATION
Subject Property: .
I/WE ACKNOWLEDGE RECEIPT OF A COPY OF THE CONFIRMATION.
Seller Date Time (am/pm)
Seller Date Time (am/pm)
Listing Agent By . Date .
(Company’s Name) (Salesperson’s Name)