Agency
The Massachusetts Mandatory Licensee-Consumer Relationship Disclosure form must be provided:
AOnly to buyers, not sellers
BAt the first substantive contact with a prospective buyer or seller✓ Correct
COnly when a written representation agreement is signed
DAt the closing table
Explanation
Massachusetts law requires the disclosure of agency relationships at the time of first substantive contact — the first meeting where real estate needs and financial qualifications are discussed.
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Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
State-Specific Concepts
Disclosure Requirements
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