Alabama
law requires you, the consumer, to be informed about the types of services
which real estate licensees may perform. The purpose of this disclosure is to
give you a summary of these services.
A SINGLE AGENT is a licensee who represents only one party in a
sale. That is, a single agent represents his or her client. The client may be
either the seller or the buyer. A single agent must be completely loyal and
faithful to the client.
A
SUB-AGENT is another agent/licensee who also represents only one party in a
sale. A sub-agent helps the agent represent the same client. The client may be
either the seller or the buyer. A sub-agent must also be completely loyal and
faithful to the client.
A LIMITED
CONSENSUAL DUAL AGENT is a licensee for both the buyer and the seller. This
may only be done with the written, informed consent of all parties. This type
of agent must also be loyal and faithful to the client, except where the duties
owed to the clients conflict with one another.
A TRANSACTION BROKER assists one or more parties, who are customers, in
a sale. A transaction broker is not an agent and does not perform the same
services as an agent.
Alabama
law imposes the following obligations on all real estate licensees to all
parties, no matter their relationship:
1. To provide services honestly and in good faith;
2. To exercise reasonable care and skill;
3. To keep confidential any information gained in
confidence, unless disclosure is required by law or duty to a client, the
information becomes public knowledge, or disclosure is authorized in writing;
4. Present all written offers promptly to the seller;
5. Answer your questions completely and accurately.