Texas: the intermediary
- A broker who agrees to represent both a buyer and a seller in a transaction must agree to act as an intermediary. The duties of an intermediary under this subchapter of the license act replace a license holder's duties under any other law, including common law. (Source: Texas Statutes)
- A broker may act as an intermediary only with the written consent of each party, and the consent states the source of any expected compensation. A buyer representation agreement that authorizes intermediary status is enough consent if it states, in conspicuous bold or underlined print, the conduct Section 1101.651(d) prohibits. An intermediary acts fairly and impartially. (Source: Texas Statutes)
- At the first substantive communication with a party about a proposed transaction for specific real property, a license holder gives the party a written notice that describes how a broker can represent a party, including as an intermediary, and the broker's duties to a party it represents and to a party it does not represent. The notice is not required for a residential lease of less than one year when no sale is considered, for a party the license holder knows another license holder represents, or for a talk at an open house about that property. (Source: Texas Statutes)
- TREC Rule 531.20 adopts the Information About Brokerage Services notice, TREC No. IABS 1-2, and requires each license holder to give the completed IABS at the first substantive communication that Section 1101.558 sets. (Source: TREC)
- When the written consent authorizes it and the broker gives written notice of the appointment to all parties, an intermediary broker may appoint an associated license holder to communicate with and carry out the instructions of one party, and another associated license holder for the other party. An appointed license holder may give opinions and advice in negotiations to the party it is appointed to. (Source: Texas Statutes)
- An intermediary, and each appointed license holder, may not tell the buyer that the seller will accept less than the asking price, or tell the seller that the buyer will pay more than the written offer, unless that party instructs otherwise in a separate writing. It may not disclose confidential information, or information a party told it in writing not to disclose, unless the party instructs otherwise in a separate writing, the law or a court order requires it, or the information materially relates to the property's condition. (Source: Texas Statutes)
Florida: no dual agency, and the transaction broker presumption
- Every licensee is presumed to be a transaction broker unless a single agent or no brokerage relationship is set up in writing. Dual agency is prohibited. The transaction broker relationship needs no written disclosure. (Source: Florida Statutes)
- A single agent relationship needs a written, conspicuous notice before or at the listing or representation agreement, or before a showing, whichever comes first. A change from single agent to transaction broker needs the customer's prior written consent on the statutory form. (Source: Florida Statutes)
- A no brokerage relationship needs a written notice before the showing. The licensee still deals honestly, discloses known facts that materially affect the value and are not readily observable, and accounts for funds. (Source: Florida Statutes)
- These notices apply to a residential sale: improved property of 4 units or fewer, land for 4 or fewer units, or agricultural property of 10 acres or less. A lease without a purchase option, an open house, and a casual conversation are excluded. (Source: Florida Statutes)
- HB 805 (2025), which would have changed a transaction broker's duties and the notice and consent to change from single agent to transaction broker, died in a House subcommittee on June 16, 2025. It is not law. (Source: Florida Statutes)
California: the dual agent
- As soon as practicable, the buyer's agent tells the buyer and the seller whether the agent acts for the buyer only or as a dual agent. The purchase contract, or a separate writing signed or acknowledged before or with the contract, confirms the relationship in the form the statute sets. (Source: California Legislative Information)
- The Real Estate Commissioner may suspend or revoke a license for acting for more than one party in a transaction without the knowledge or consent of all parties. (Source: California Legislative Information)
- In a transaction the agency disclosure law covers, the seller's agent gives the agency disclosure form (Civil Code 2079.16) to the seller before the listing agreement is signed. The buyer's agent gives it to the buyer as soon as practicable before the buyer signs the buyer-broker representation agreement and the offer or, when the buyer's agent did not prepare the offer, no later than the next business day after receiving the offer. The agent gets a signed acknowledgment of receipt. (Source: California Legislative Information)
- A dual agent does not tell the buyer the seller's confidential information, or the seller the buyer's, without that party's express permission. Confidential information includes facts that may affect price, such as a seller who will take less than the listing price or a buyer who will pay more than the offer. (Source: California Legislative Information)
New York: the agency disclosure form
- For a condominium or cooperative apartment, New York's agency disclosure law requires the listing agent to give the seller the agency disclosure form before the listing agreement, and to give a buyer the form at the first substantive contact. (Source: New York Consolidated Laws)
- The agent gets a signed acknowledgment. When a party refuses to sign, the agent records the refusal under oath, and keeps the records for at least 3 years. (Source: New York Consolidated Laws)
Georgia: the dual agent and designated agents
- A broker may act as a dual agent only with the written consent of all clients. The consent describes the transactions, or types of transactions, in which the broker will be a dual agent. It also states that: the broker represents two clients whose interests are, or at times could be, different or even adverse; the dual agent will disclose to all parties all adverse material facts it actually knows, except information another client made confidential that the law does not allow or require it to disclose; the broker and its licensees will timely disclose to each client any material relationship they have with the other client; the client does not have to consent to the dual agency; and the client gives consent voluntarily and has read and understood the engagement. (Source: GREC)
- GREC Rule 520-1-.06(4): a licensee makes, or causes to be made, a written disclosure to both the buyer and the seller that states the party or parties for whom the licensee's firm acts as agent or dual agent, and from whom the firm will receive any valuable consideration. If the firm is not the agent of either party, the disclosure states from whom the firm will receive any valuable consideration. The disclosure must be timely, and no later than the time any party first makes an offer. (Source: Georgia Rules and Regulations)
- Under O.C.G.A. § 10-6A-10(a), every brokerage engagement must advise the prospective client of: the types of agency relationships available through the broker; any brokerage relationship the broker has with other parties that would conflict with the client's interests and that the broker actually knows of (not counting that the broker may represent other sellers, or other buyers who buy other property); the broker's compensation, and whether the broker will share it with brokers who represent other parties; and the broker's duty to keep information confidential. (Source: Georgia.gov)
- A broker may assign different affiliated licensees as designated agents to represent different clients exclusively in the same transaction, directly or through a company policy. A designated agent owes the client the duties that Georgia's Brokerage Relationships in Real Estate Transactions Act (BRRETA) sets for that type of client. When the broker appoints designated agents this way, the broker, its licensees, and the firm are not dual agents, and no knowledge is imputed among the broker, the designated agents, and the clients. A designated agent may not disclose information the client made confidential, except to the designated agent's broker or when BRRETA allows or requires it. (Source: GREC)
Arizona: the limited representation broker
- Under ADRE rule R4-28-1101, a licensee may not accept compensation from, or represent, more than one party to a transaction without the prior written consent of all parties. (Source: ADRE)
- The Arizona Association of REALTORS® (AAR) Real Estate Agency Disclosure and Election form (updated November 2024) says that a broker may represent both the buyer and the seller, as a limited representation broker, only with the knowledge and informed consent of both. In the event of a purchase, the buyer's and the seller's informed consent should be acknowledged in a separate writing other than the purchase contract. (Source: Arizona REALTORS)
- Under that form, a limited representation broker does not disclose without written authorization that the seller will accept, or the buyer will pay, a price or terms other than those stated. It discloses confidential information only with written authorization. (Source: Arizona REALTORS)
- Under R4-28-1101, a licensee owes a fiduciary duty to the client, protects and promotes the client's interests, and deals fairly with all other parties to a transaction. (Source: ADRE)
- Under ADRE rule R4-28-701, a broker discloses in writing to all parties, at least 3 calendar days before closing, the name of each employing broker who represents a party and will receive compensation from the transaction. (Source: ADRE)
Colorado: the transaction-broker
- Under C.R.S. 12-10-403, a broker may act in any transaction as a single agent or as a transaction-broker. From August 12, 2026 (HB 26-1426), a broker establishes either relationship through a written agreement with the party or parties it represents. Under 12-10-406, a broker may not establish dual agency. (Source: Colorado Revised Statutes)
- Under 12-10-403(6), in a firm with more than one licensed person, the employing broker designates the broker who works with the buyer, and the relationship does not extend to the employing broker, to brokers who are not designated, or to the firm. One designated broker may work with the seller and the buyer in the same transaction as a transaction-broker for both, or as a single agent for one party who treats the other as a customer, but not as a single agent for both. (Source: Colorado Revised Statutes)
- Under Commission Rule 6.7, as amended effective September 30, 2026, a broker or a team may not be a single agent for one consumer and a single agent or transaction-broker for the other in the same transaction. With written disclosure, a broker or team that works with both sides may be a transaction-broker for both, a transaction-broker for one that treats the other side as a customer, or a single agent for one that treats the other side as a customer. (Source: Code of Colorado Regulations)
- Under Commission Rule 6.9, as amended effective September 30, 2026, a broker who changes from single agent for one client to transaction-broker for both clients gives the Commission's Change of Status form to the client whose relationship changes, when the broker begins to assist both, and no later than when the consumer signs the real estate contract. (Source: Code of Colorado Regulations)
- Under C.R.S. 12-10-407, a transaction-broker is not an agent for either party. It uses reasonable skill and care, presents all offers and counteroffers in a timely manner, keeps the parties fully informed, and helps them comply with the contract through closing. It needs the express written consent of all parties to disclose the buyer's confidential information: that the buyer will pay more than the price, the buyer's motivating factors, that the buyer will agree to other financing terms, or other material information about the buyer. (Source: Colorado Revised Statutes)
- Under C.R.S. 12-10-410, before a brokerage or listing agreement or a contract to buy is signed, the parties are told who pays compensation to any broker. A broker may be paid by more than one party only if those parties consent in writing before they sign the contract to buy. (Source: Colorado Revised Statutes)
Not on this page
- Florida: the duties a transaction broker owes each party, and whether one brokerage may work with both the buyer and the seller as a transaction broker: Reddy has no reviewed fact. Ask your broker.
- New York: what the law calls it when one brokerage works with both the buyer and the seller, whether the law allows it, and on what condition: Reddy has no reviewed fact. Ask your broker or an attorney.
- Texas: the text of the IABS notice: TREC No. IABS 1-2 sets it.
- California: the wording of the agency disclosure form: Civil Code 2079.16 sets it.
- Arizona: the terms of AAR's Consent to Limited Representation form: read the form on AAR's sample forms page.
- Georgia: whether a given brokerage engagement or dual agency consent meets BRRETA: ask an attorney.
- Colorado: the text of the Commission's Change of Status form: ask your employing broker.
- Colorado: what a transaction-broker may not disclose about the seller without consent: Reddy has no reviewed fact. Ask your employing broker.
- Which relationship you have in a given deal, and what your consent forms say: read your agreements and ask your broker.