Laws & AgencyQuestion 21 of 120
California's agency disclosure law requires an agent in a residential one-to-four unit transaction to provide the 'Disclosure Regarding Real Estate Agency Relationships' and to confirm whom the agent represents. This confirmation must occur:
a.As soon as practicable, before the buyer signs the offer
b.Only at the close of escrow
c.After the seller accepts the offer
d.Only if the buyer requests it
Explanation
The agency disclosure form must be provided and the agency relationship elected and confirmed before the principal signs the purchase agreement, as soon as practicable. This ensures buyers and sellers understand whether an agent represents the seller, the buyer, or both. Failure to disclose can expose the agent to discipline and liability.
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