Real Estate Relationships Disclosure - South Dakota

Real Estate Relationships Disclosure is a legal document that was released by the South Dakota Department of Labor & Regulation - a government authority operating within South Dakota.

FAQ

Q: What is the Real Estate Relationships Disclosure?
A: The Real Estate Relationships Disclosure is a document that provides information about the relationship between a real estate agent and a buyer or seller in South Dakota.

Q: Why is the Real Estate Relationships Disclosure important?
A: The disclosure ensures that buyers and sellers are aware of the type of agency relationship they have with their real estate agent, including whether the agent is representing them as a client or customer.

Q: What types of agency relationships are disclosed in the document?
A: The document discloses three types of agency relationships: seller's agent, buyer's agent, and dual agent.

Q: What is a seller's agent?
A: A seller's agent represents the interests of the seller in a real estate transaction and has a fiduciary duty to the seller.

Q: What is a buyer's agent?
A: A buyer's agent represents the interests of the buyer in a real estate transaction and has a fiduciary duty to the buyer.

Q: What is a dual agent?
A: A dual agent represents both the seller and the buyer in a real estate transaction and has a limited fiduciary duty to both parties.

Q: What should buyers and sellers do if they have questions about the Real Estate Relationships Disclosure?
A: Buyers and sellers should consult with their real estate agent or an attorney if they have any questions or concerns about the disclosure.