Why is Agency Disclosure Important?
- Corey Cohen
- Apr 25, 2023
- 1 min read
In New York State, there are specific laws and regulations regarding real estate transactions that require real estate agents to disclose their agency relationships with their clients. The New York State Agency Disclosure Law requires real estate agents to disclose whether they are representing the seller, the buyer, or both, in a transaction.
This law is important because it ensures that all parties involved in a real estate transaction are aware of who their agent is representing and what their responsibilities are. When you work with a real estate agent, you want to make sure that they are representing your best interests and advocating for your needs.
When a real estate agent represents both the buyer and the seller in a transaction, this is known as dual agency. Dual agency can be a pitfall because the agent may be representing their own client's interests before yours. This can create a conflict of interest and make it difficult for the agent to provide impartial advice and negotiate the best possible deal for you.
Having a real estate agent represent you as a fiduciary means that they have a legal obligation to act in your best interests and put your needs ahead of their own. This can give you peace of mind and ensure that your interests are protected throughout the real estate transaction.
In summary, understanding New York State Agency Disclosure laws is important when buying or selling real estate in New York State. Working with a real estate agent who is representing you as a fiduciary can help ensure that your interests are protected and that you get the best possible outcome in your real estate transaction.
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Really enjoyed reading this post — you broke down agency disclosure laws and why they matter in real estate with clarity. It was especially helpful how you highlighted the risks around dual agency and the need for transparency. I recently came across a discussion on a https://thesagelawgroup.ca/ blog that offered a similar view on agency disclosure’s impact on fairness, which resonated with your points as well. Great read — thanks for sharing.
Really enjoyed reading this post — the way you explained agency disclosure and why it matters in real‑estate transactions was very clear and helpful. In particular, your emphasis on transparency and making sure buyers and sellers understand who represents whom makes a lot of sense. I recently came across a similar discussion on a https://shrimpupaquatics.com/ write‑up, and it offered an interesting perspective on disclosure and trust that echoed many of the points you made here. Thanks for breaking down a complex topic so well — it’s a great resource for anyone navigating real estate deals!