Module 2 – Disclosure Regarding Real Estate Agency Relationships

 

Introduction

 

Starting in 1994, the Michigan legislature introduced the concept of buyer’s agency. Before that time, all agents worked for the seller. Even agents working for other brokerages showing homes to buyers were, in fact, working for the sellers. Technically speaking, even today agents without a contract to the contrary, are still working on the behalf of sellers. It is the Buyer’s Agency Agreement that gave individual agents the ability to work on behalf of buyers. With the creation of this new agency, there arose a need for agents to disclose for whom they are working.