RE90R14: Designated Agency

Approved as of July 3, 2014

1. 1. Designated Agency
   1. Law
      1. Passed in 2004
      2. i. Effective in 2005
   2. Massachusetts General Law Chapter 112, Section 87AAA
   3. 264 Code of Massachusetts Regulation (CMR) 3.00(13)
2. Required Documents
   1. Massachusetts Mandatory Licensee-Consumer Relationship Disclosure
      1. Buyer agent showing – FSBO (For Sale by Owner)
      2. Seller’s agent showing property to customer
   2. Massachusetts Consent to Dual Agency
   3. Notice of Dual Agency
   4. Consent to Designated Agency
   5. Notice of Designated Agency
   6. Disclosure of company business model
3. Types of Agency
   1. Designated Seller Agency
   2. Designated Buyer Agency
   3. Dual Agency
4. Non-Agency
   1. Facilitator
5. Types of Offices
   1. Traditional Office:
      1. May offer the following with Relationship Disclosure:
   2. Seller Agency
   3. Buyer Agency
   4. Dual Agency
   5. Facilitator
      1. Open Sales Meetings:
   6. Client information exchanged among attending Agents
   7. Designated Agency Office
      1. Appointing Agent serves as Dual Agent
      2. Each Client represented by an Exclusive Agent 1. “OLD CAR”
      3. No open sales meeting/no client information exchanged among attending Agents
      4. Secure File
         1. Written Information Security Program (201 CMR 17)
         2. Seller and Buyer files kept in separate and locked file (except for general information, i.e. seller’s plot plans, deeds, MLS listing, etc.)
            1. Secure fax machine
            2. Online storage access / Documents
            3. Open Houses
   8. Designated Seller’s Agent
   9. Facilitator
   10. Open House Tent Disclosure card
   11. Teams
   12. Mentors
   13. Vacation coverage