Agency Relationships in Vermont
Vermont requires a mandatory consumer disclosure of brokerage relationships and recognizes seller, buyer, and dual agency. This chapter explains the disclosure and the duties licensees owe.
Mandatory Consumer Disclosure
Vermont licensees must provide a mandatory consumer disclosure explaining the available brokerage relationships early in the working relationship, before the consumer shares confidential information. The disclosure describes seller agency, buyer agency, and dual agency so the consumer can decide how to proceed. Early disclosure helps consumers understand who represents them.
Seller and Buyer Agency Duties
A licensee who represents a seller or a buyer owes that client duties including loyalty, confidentiality, obedience to lawful instructions, disclosure, accounting, and reasonable care. To the other party the licensee still owes honesty and fair dealing and must disclose known material defects in the property. These duties continue throughout the transaction.
Dual Agency
Dual agency, in which one licensee or firm represents both the buyer and the seller in the same transaction, is permitted in Vermont only with the informed consent of both parties. A dual agent must treat both parties honestly and may not disclose one party's confidential information to the other. Because a dual agent cannot fully advocate for either side, consent must be knowing and voluntary.