NEW JERSEY ASSOCIATION OF REALTORS®
STANDARD FORM OF

INFORMED CONSENT TO DUAL AGENCY

(BUYER)  

©2001, New Jersey Association of REALTORS®, Inc.

This Agreement evidences Buyer’s consent that the Brokerage Firm, as Buyer’s Agent, may act as a Disclosed Dual Agent in order to represent both Buyer and Seller in the same real estate transaction, and seeks Buyer’s consent to allow Buyer’s Agent to act as a Disclosed Dual Agent when the opportunity arises.  Buyer should be aware that a real estate licensee may legally act as a Disclosed Dual Agent only with Buyer’s and Seller’s informed written consent.

Buyer understands that Disclosed Dual Agency (representing more than one party to a transaction) has the potential of creating a conflict of interest in that both Seller and Buyer may intend to rely on the Buyer’s Agent’s advice, and their respective interests may be adverse to each other.  Therefore, when acting as a Disclosed Dual Agent, Buyer’s Agent will not represent the interest of Buyer to the exclusion or detriment of the interests of Seller; nor will Buyer’s Agent represent the interests of Seller to the exclusion and detriment of the interests of Buyer.

As a Disclosed Dual Agent of both the Seller and the Buyer, Buyer’s Agent will be working equally for both parties to the real estate transaction, and will provide services to complete the transaction without the full range of fiduciary duties ordinarily owed by an agent who represents Buyer alone, or the Seller alone.  In the preparation of offers and counteroffers between Buyer and Seller, Buyer’s Agent will act only as an intermediary to facilitate the transaction rather than as an active negotiator representing either the Buyer or Seller in a fiduciary capacity.  By consenting to this dual agency, Buyer is giving up the right to undivided loyalty and will be owed only limited duties of disclosure, obedience and confidentiality by the Buyer’s Agent.

For example.  Buyer acknowledges that Buyer’s Agent, as a Disclosed Dual Agent, is not permitted, under law, to disclose to either Buyer or Seller any confidential information which has been, or will be communicated to Buyer’s Agent by either of the parties to the transaction.  Moreover, Buyer’s Agent is not permitted to disclose (without the express written permission of the Seller) to the Buyer that such Seller will accept a price less than the full listing price.  Nor will Buyer’s Agent disclose (without the express written permission of the Buyer) to the Seller that Buyer will pay a sum greater than the price offered by Buyer.  It is also impermissible for Buyer’s Agent to advise or counsel either the Buyer or Seller on how to gain an advantage at the expense of the other party on the basis of confidential information obtained from or about the other party.

Buyer acknowledges receipt of the Consumer Information Statement on New Jersey Real Estate Relationships.

I, ________________(Name of License) AS AN AUTHORIZED REPRESENTATIVE OF __________________ INTEND, AS OF THIS TIME, TO WORK WITH YOU (BUYER) AS A BUYER'S AGENT AND DISCLOSED DUAL AGENT IF THE OPPORTUNITY ARISES.

If Buyer does not understand all of the provisions of this Informed Consent to Dual Agency, legal advice should be sought before signing.

By signing below, Buyer Acknowledges that Buyer has read and understood this Informed Consent to Dual Agency and gives consent to Buyer’s Agent to act as a Disclosed Dual Agent.

NJAR Form-122A-1/01