Disclosure Regarding Real Estate Agency Relationships

New York State law requires real estate licensees who are acting as agents of buyers or sellers of property to advise the potential buyers or sellers with whom they work of the nature of their relationship and the rights and obligations it creates.

 
Seller's Agent

All the agents/brokers listed on the MidHudson MLS act as the agent of the seller exclusively.  As a seller's agent, these agents have, without limitation, the duty of undivided loyalty to the seller.

 
Dual Agency

A real estate agent can be the agent of both the seller and the buyer in a transaction, but only with the prior knowledge and informed consent, in writing, of both the seller and the buyer.

 
Buyer's Agent

If you are interested in buying real property, you should engage a real estate agent as a buyer's agent. A buyer's agent acts solely on behalf of the buyer.

 

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