24 April Please walk me through the process for completing the Consent for Dual Agency form, especially the “AFFIRMATION” section on the bottom of the second page. April 24, 2017By Cindy Sellers Agency 0 The seller typically signs the consent form with the listing agreement and the buyer signs it when the buyer broker agreement is signed. At this point, however, no dual agency has occurred. The current Consent for Dual Agency form contains, on page 2, two subparts. The first subpart is for the seller/buyer to consent in advance for the listing/buyer broker to act as a dual agent in the sale/purchase of property (the seller specifies the property address). The second subpart of the form requires the affirmation of the seller/buyer when the actual dual agency occurs. The seller must sign the second subpart, affirming the advance consent for dual agency for the buyers identified below. The buyer must sign the second subpart, affirming the advance consent for dual agency for the property identified below. The 2016 changes to the Broker’s Act clarified previous law regarding at what point the Affirmation must be signed by the parties. Maryland law states: The written consent for dual agency shall include an affirmation that identifies the property and the buyer when the real estate broker or branch office manager is serving as a dual agent and the buyer and seller or lessee and lessor enter into a written contract for sale or for a lease, respectively. Thus, the updated law is consistent with the practices many brokers and licensees had adopted previously. We recommend that brokers and managers review office policy with legal counsel to ensure compliance. Related Posts In the Maryland Homeowners Association Act (HOA) (Title 11B, Section 106 (f)), it states that “the provisions of subsections (a), (b), (d), and (e) of this section do not apply to the sale of a lot in an action to foreclose a mortgage or deed of trust.” I assume this means that if a bank institutes foreclosure proceedings, no HOA disclosure requirement is enforced. But does that also apply to a bank-owned property that the bank is selling as a result of acquiring the property in foreclosure? Is the bank exempt from providing HOA docs to the potential purchaser and that the 5-day right of rescission does not apply? I am the broker for a small company and I still take listings. I am the broker for a small company and I still take listings. If another agent in my office has a buyer client interested in my listing, how can we make dual agency work? I am the broker of record for a small real estate firm and the only individual who is licensed with me is my wife. Under Maryland agency law, are my wife and I permitted to act as Intra-Company agents under dual agency in the sale of our company’s listings? How many people does it take to provide dual agency? An individual who has submitted an application for tenancy has a service dog or comfort animal. Can the Landlord turn down tenant if the Landlord has a “No Pets” policy? Can the Landlord charge a pet deposit? When does the agent have to disclose that a prospective tenant has a service animal? Is there a document I can use to help explain Maryland Agency law to my clients? Is there a document I can use to help explain Maryland Agency law to my clients? Is a licensed real estate agent, who represents a buyer under a buyer agency agreement considered a foreclosure consultant if he contacts, on behalf of his buyer-client, an unrepresented homeowner in default who has his property advertised in the local paper (i.e., a “for sale by owner” situation)? Comments are closed.