Agency
Informed consent in a dual agency situation means:
AThe broker informs the MLS of the dual representation
BBoth parties understand the implications and agree in writing before the agency is established✓ Correct
CThe agent discloses the dual agency at closing
DOne party consents verbally and the other in writing
Explanation
For dual agency to be lawful in NJ, both the buyer and seller must give informed written consent before the agent begins representing both parties.
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