Most states have some form of disclosure document that must be signed by a real estate buyer or seller before they enter into any substantial property negotiations or sign any documents. That's because the licensed real estate agent is considered the expert who will guide and advise them through the process.
The early disclosure is used to inform the client of your required duties in the various ways in which you might represent them. You may not always be their "agent." You might be a "transaction broker" or a "facilitator" of a transaction. It depends on the state and the ways in which your brokerage chooses to represent clients. However, the important part is to be certain in your own mind as to your duties in each situation. Then you want to be able to explain the choices to the consumer and make sure that they know what to expect from you. And, possibly even more important, what not to expect from you.
This is usually a favorite test topic on the real estate exam. That's because it sets the tone for the entire relationship with the consumer, from shopping through closing. USRealEstateExams.com recognizes the importance of this area of the exam, and you'll be very prepared at real estate exam time. You'll receive appropriate and detailed instruction, as well as practice exam questions addressing agent duties and consumer disclosure of them.
