This form seeks to comply with Indiana Code Section 25-34.1-10-13 which provides:
(a) A principal broker shall develop and enforce a written office policy that identifies and describes the agency relationships that a licensee may have with a seller, landlord, buyer, or tenant and that specifically permits or rejects the practice of disclosed limited agency.
(b) At the beginning of an agency relationship, a licensee shall disclose in writing the principal broker's written office policy set forth in this section before the disclosure by the potential seller, landlord, buyer, or tenant of any confidential information specific to that potential seller, landlord, buyer, or tenant.
(c) Parties to a real estate transaction shall be advised whether compensation will be shared with other principal brokers who may represent other parties to the transaction whose interests are different or even adverse.
(d) The payment of compensation does not create an agency relationship between a licensee and a seller, landlord, buyer, or tenant.
Carmel Indiana Office Policy for Sellers — Disclosure Regarding Real Estate Agency Relationships is an essential aspect of conducting property transactions in the city of Carmel, Indiana. This policy outlines the guidelines and obligations of real estate agents when representing sellers in the market, ensuring transparency and clarity throughout the process. Under this policy, real estate agents are required to disclose their agency relationship with sellers before undertaking any professional services. This disclosure allows sellers to understand the roles and responsibilities of the agent and make informed decisions regarding their property. There are different types of Carmel Indiana Office Policy for Sellers — Disclosure Regarding Real Estate Agency Relationships that can be named: 1. Single Agency: This type of agency relationship occurs when an agent exclusively represents the seller. The agent owes fiduciary duties to the seller, including loyalty, confidentiality, and full disclosure. 2. Dual Agency: In some cases, an agent may represent both the seller and the buyer. Dual agency must be disclosed upfront, and the agent must act in a neutral manner, providing fair and equal representation to both parties. 3. Designated Agency: This occurs when a real estate agency designates two agents, one to represent the seller and another to represent the buyer. This ensures that each party has a dedicated representative who works solely on their behalf. 4. Transactional Agency: In a transactional agency relationship, the agent facilitates the transaction without representing either the seller or the buyer. They cannot provide advice or advocate for either party but are responsible for staying neutral and ensuring the transaction progresses smoothly. Regardless of the type of agency relationship, Carmel Indiana Office Policy for Sellers — Disclosure Regarding Real Estate Agency Relationships highlights the importance of transparent communication, ensuring that sellers have a clear understanding of the agent's role, obligations, and any potential conflicts of interest. In the interest of maintaining professionalism and honesty, real estate agents in Carmel, Indiana, follow these policies to build trust with sellers and foster a successful and ethical selling process.
