I understand if an agent is related to a transaction, a disclosure is a must. I’m confused whether a disclosure is necessary if an agent represents another agent to buy a house.
For example, agent Tom is representing David to buy a house. David is also an agent. Does Form 160 need to be filled when providing offer?
Disclosure is way over done in real estate.
Unfortunately, the independent obligations under s. 32. of the Act and s.18 of the Code are combined in one Form. That makes it confusing. Now, everybody is disclosing everything to everybody. That’s not required. Go to the source in the Act and the Code. Most people oddly enough go to the Form.
In this particular situation, David lost his right to be silent once he became a registrant.
Brian Madigan LL.B., Broker