Agency
The Nebraska agency disclosure form must be provided to all parties and signed to acknowledge:
AAgreement to pay the commission
BReceipt of the disclosure and understanding of the agent's representation role✓ Correct
CWaiver of all fiduciary duties
DAcceptance of the property 'as-is'
Explanation
The agency disclosure form documents that the consumer has been informed of the agent's representation role. Signature acknowledges receipt and understanding of the disclosure.
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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.
Buyer's AgentA real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
Seller's Agent (Listing Agent)A real estate licensee who represents the seller's interests, markets the property, and owes fiduciary duties to the seller.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Math Concepts
State-Specific Concepts
Disclosure Requirements
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