Occasionally a real estate brokerage will be the agent of both the buyer and the seller. The buyer and seller must consent to this arrangement in writing. Under this “multiple representation” situation, the company must do what is best for both the buyer and the seller.
Since the company’s loyalty is divided between the buyer and the seller who have conflicting interests, it is absolutely essential that both parties agree to multiple representation by initialing this clause in the accompanying “Confirmation of Cooperation and Representation” which goes along with the “Agreement of Purchase and Sale” (the offer). This representation specifically describes the rights and duties of everyone involved and any limitations to those rights and duties. This same information is provided in the brochure called “Working with a Realtor” which you will also be requested to acknowledge.