New Jersey law requires that real estate licensees inform prospective buyers and sellers about the four types of business relationships prior to the first discussion of financial matters or the motivation for buying or selling.
The Consumer Information Statement (CIS), which is required and must be delivered to the buyer or seller at the time of the first meeting, this helps explain these relationships.
The four business relationships are:
- Buyer’s agent
- Seller’s agent
- Disclosed dual agent
- Transaction broker
I do hope that this will guide you in fully understanding the relationships: We will discuss this further upon our first meeting.