Apr 12

Sc Dual Agency Agreement

Second, consent must be written. The document must be exported by the buyer before the offer and by the seller before the signing of the sales contract. Finally, the written agreement must indicate the transaction in which the licensee acts as a dual agent. An example of this customer relationship is the buyer who calls random agents for home visits without establishing an agency relationship, or even the buyer who “feels” to have an agent who works for them, but he has not yet signed the legal buyer agency agreement in South Carolina. According to SC Law, “customer relationship” is the agency`s most fundamental form in the real estate sector. In the SC brochure, “Unless you enter into a written agreement with the company on agency representation, you are considered a “customer” of the company and the company will not act as your representative. In addition, “as a customer, you should not expect the company or its licenses to promote your interest or that your trading information will remain confidential.” It may not be very comforting, but it is the law. “Remember that until you enter into a replacement agreement with the company, you will be considered a client and that the company cannot be your lawyer, cannot advise you on prices or conditions and cannot maintain your trust.” This is where the Double Agency comes in. The Double Agency requires that your agent and his company represent both parties fairly, professionally and ethically. Dual agents, under South Carolina law, cannot do anything that gives an advantage to either client, because the company of the alternating agent represents both. I just sent a list agreement recently, and I`m very excited about my new list here in Beaufort, SC. When I gave instructions to the a-town seller to make sure he was clear about the terms of our list agreement, I thought about the concept of dual agency, which is part of the South Carolina list agreements. An additional form of the agency, represented by SC Law, is the designated agency, described in the SC Agency Disclosure brochure: “A broker-in-charge may designate associated individual licenses to act exclusively on behalf of each client.

Designated agents are not limited by the company`s agency relationships with the other client, but have a duty to promote the best interests of their clients, including negotiating a price. The real estate agent remains a disclosed double agent for both clients and ensures that the mandated agents fulfill their obligations to their respective clients. South Carolina allows real estate licensees to serve as double agents in real estate transactions.