MANDATORY DISCLOSURES REQUIRED BY GEORGIA LAW
Prior to entering into this Agreement with you, Georgia law requires Broker make certain disclosures to you:
- Advise you of the types of brokerage relationships available through Broker and Broker's office policy. These relationships and policies are described below.
- Advise you of any other brokerage relationships held by Broker that would conflict with any interest of yours actually known to Broker. While not legally considered to be a conflict, Broker and Broker's affiliated licensees represent other sellers and buyers regarding sales of property which may be in direct competition with the sale of your Property.
- Advise you as to Broker's compensation and whether Broker will share such compensation with other brokers who may represent other parties to the transaction.
- Advise you of Broker's obligation to keep certain information confidential.
Broker is a limited agent. When you sign the Agreement, the Broker (and the Broker's affiliated licensees ) relationship to you will be as an independent contractor and a limited agent and, as provided below, possibly a dual agent. "Limited agent" means the Broker may, acting under the authority of the Agreement, solicit offers to purchase, sell, lease or exchange the Property without being subject to your control, except as to the result of the work. Broker, as a limited agent, shall not be deemed to have a fiduciary relationship with you (or any party), except as may be expressly provided otherwise by law. Neither Broker nor Broker's affiliated licensees shall be considered your employees.
Broker will make disclosures to prospective Buyers about your Property based on Broker's actual knowledge and in reliance on information you provide. Your obligation to disclose material adverse facts about the Property, particularly latent or hidden defects, is not changed by the Agreement. Broker shall treat all prospective buyers honestly and shall not knowingly give them false information. Broker shall keep confidential any information you expressly ask Broker to keep confidential unless prohibited by law. Broker shall timely disclose to prospective buyers with whom Broker is working all material adverse facts pertaining to the physical condition of the Property, including, but not limited to, material defects in the Property, environmental contamination, and facts required by statute or regulation to be disclosed which are actually known by Broker, particularly if such defects could not be discovered by a reasonably diligent inspection of the Property by the buyer. Broker shall not be liable to a buyer for providing false information if the false information was provided to Broker by you and Broker did not have actual knowledge that the information was false. Nothing in this paragraph shall limit any of your obligations under any applicable law to disclose to prospective buyers all material adverse facts actually known by you pertaining to the physical condition of the Property, nor shall it limit the obligation of prospective buyers to inspect the physical condition of the Property. Georgia law provides that no cause of action shall arise on behalf of any person against Broker for revealing information in compliance with this paragraph.
Broker may provide assistance to prospective buyers without violating any duties to you. Under Georgia law, Broker may provide assistance to buyers by performing such ministerial acts as preparing offers and presenting them to you; locating lenders, inspectors, attorneys, insurance agents, surveyors, schools, shopping facilities, places of worship, and all such other like or similar services; discussing other listed and sold properties. Performing such ministerial acts shall not be construed in such a manner as to violate the Agreement, nor shall performing such ministerial acts for a buyer be construed in such a manner as to form a brokerage engagement with a buyer.
Broker may show alternative properties to buyers and provide information. Under Georgia law, Broker does not breach any duty or obligation to you by showing alternative properties to prospective buyers. Broker may also provide information on other properties which may be in competition with the Property.
Dual Agency is permitted by Georgia law if both client parties consent. The following disclosures are made so that you will have full disclosure in choosing whether to give your consent and allow dual agency. YOU DO NOT HAVE TO CONSENT TO DUAL AGENCY. As a dual agent, Broker, will represent you in selling your Property and also represent a buyer with whom Broker has a brokerage engagement. In serving as a dual agent, Broker represents a buyer and seller whose interests are or at times could be different or even adverse. When Broker serves as dual agent, both you and the buyer will be clients of Broker. Broker, as a dual agent, may not disclose to you or the other client information made confidential by request or instructions from you or the other client, except information allowed or required to be disclosed by law. When dual agency exists, Georgia law provides that Broker may assign one affiliated licensee to you and another to buyer; this is known as Designated Agency. In that case, those licensees may not disclose, except to Broker, information made confidential by request or instructions of the client the licensee is representing, except information allowed or required to be disclosed under Georgia law. If Broker or Broker's affiliated licensees have a material relationship with the other client other than that incidental to the transactions, a disclosure of the nature of such a relationship must be provided to you. A material relationship shall mean any actually known personal, familial, or business relationship between Broker or Broker's affiliated licensees and a client which would impair the ability of Broker or the affiliated licensees to exercise fair and independent judgment relative to another client. The other party whom Broker may represent in the event of dual agency may or may not be identified at the time you enter into this Agreement. If a party is not identified at such time, when such party is identified, if it is a party with whom either Broker or Broker's affiliated licensees has a material relationship, Broker shall promptly provide to you a disclosure of the nature of such relationship.