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 agency relationship and

the rights and obligations it creates. This disclosure

will help you to make informed choices about your

relationship with the real estate broker and its sales

agents.

Throughout the transaction you may receive more

than one disclosure form. The law may require each

agent assisting in the transaction to present you with

this disclosure form. A real estate agent is a person

qualified to advise about real estate.

If you need legal, tax or other advice, consult with a

professional in that field.

A seller's agent is an agent who is engaged by a seller

to represent the seller's interests. The seller's agent

does this by securing a buyer for the seller's home at

a price and on terms acceptable to the seller. A seller's

agent has, without limitation, the following fiduciary

duties to the seller: reasonable care, undivided

loyalty, confidentiality, full disclosure, obedience and

duty to account. A seller's agent does not represent

the interests of the buyer. The obligations of a seller's

agent are also subject to any specific provisions set

forth in an agreement between the agent and the seller.

In dealings with the buyer, a seller's agent should

(a) exercise reasonable skill and care in performance

of the agent's duties; (b) deal honestly, fairly and in

good faith; and (c) disclose all facts known to the

agent materially affecting the value or desirability of

property, except as otherwise provided by law.

A buyer's agent is an agent who is engaged by a buyer

to represent the buyer's interests. The buyer's agent

does this by negotiating the purchase of a home at a

price and on terms acceptable to the buyer. A buyer's

agent has, without limitation, the following fiduciary

duties to the buyer: reasonable care, undivided loyalty,

confidentiality, full disclosure, obedience and duty

to account. A buyer's agent does not represent the

interests of the seller. The obligations of a buyer's

agent are also subject to any specific provisions set

forth in an agreement between the agent and the buyer.

In dealings with the seller, a buyer's agent should

(a) exercise reasonable skill and care in performance

of the agent's duties; (b) deal honestly, fairly and in

good faith; and (c) disclose all facts known to the

agent materially affecting the buyer's ability and/or

willingness to perform a contract to acquire seller's

property that are not inconsistent with the agent's fiduciary

duties to the buyer.

A broker's agent is an agent that cooperates or is engaged

by a listing agent or a buyer's agent (but does

not work for the same firm as the listing agent or

buyer's agent) to assist the listing agent or buyer's

agent in locating a property to sell or buy, respectively,

for the listing agent's seller or the buyer agent's

buyer. The broker's agent does not have a direct relationship

with the buyer or seller and the buyer or seller

cannot provide instructions or direction directly to

the broker's agent. The buyer and the seller therefore

do not have vicarious liability for the acts of the broker's

agent. The listing agent or buyer's agent do provide

direction and instruction to the broker's agent

and therefore the listing agent or buyer's agent will

have liability for the acts of the broker's agent.

A real estate broker may represent both the buyer and

the seller if both the buyer and seller give their informed

consent in writing. In such a dual agency situation,

the agent will not be able to provide the full

range of fiduciary duties to the buyer and seller. The

obligations of an agent are also subject to any specific

provisions set forth in an agreement between the

agent, and the buyer and seller. An agent acting as a

dual agent must explain carefully to both the buyer

and seller that the agent is acting for the other party

as well. The agent should also explain the possible

effects of dual representation, including that by consenting

to the dual agency relationship the buyer and

seller are giving up their right to undivided loyalty. A

buyer or seller should carefully consider the possible

consequences of a dual agency relationship before

agreeing to such representation. A seller or buyer

may provide advance informed consent to dual agency

by indicating the same on this form.

If the buyer and the seller provide their informed

consent in writing, the principals and the real estate

broker who represents both parties as a dual agent

may designate a sales agent to represent the buyer

and another sales agent to represent the seller to negotiate

the purchase and sale of real estate. A sales

agent works under the supervision of the real estate

broker. With the informed consent of the buyer and

the seller in writing, the designated sales agent for the

buyer will function as the buyer's agent representing

the interests of and advocating on behalf of the buyer

and the designated sales agent for the seller will function

as the seller's agent representing the interests of

and advocating on behalf of the seller in the negotiations

between the buyer and seller. A designated sales

agent cannot provide the full range of fiduciary duties

to the buyer or seller. The designated sales agent

must explain that like the dual agent under whose

supervision they function, they cannot provide undivided

loyalty. A buyer or seller should carefully consider

the possible consequences of a dual agency relationship

with designated sales agents before agreeing

to such representation. A seller or buyer may

provide advance informed consent to dual agency

with designated sales agents by indicating the same

on this form.

This form was provided to me by _________________________________________ (print name of licensee) of

_______________________________ (print name of company, firm or brokerage), a licensed real estate broker

acting in the interest of the:

( ) Seller as a (check relationship below) ( ) Buyer as a (check relationship below)

( ) Seller's agent ( ) Buyer's agent

( ) Broker's agent ( ) Broker's agent

( ) Dual agent

( ) Dual agent with designated sales agents

For advance informed consent to either dual agency or dual agency with designated sales agents complete section

below:

( ) Advance informed consent dual agency

( ) Advance informed consent to dual agency with designated sales agents

If dual agent with designated sales agents is indicated above:

_________________________________ is appointed to represent the buyer; and

_________________________________ is appointed to represent the seller in this transaction.

(I)(We) acknowledge receipt of a copy of this disclosure form:

Signature of Buyer(s) and/or Seller(s):

______________________________ ______________________________

______________________________ ______________________________

Date:__________________________ Date:__________________________