What must be disclosed in a designated agency relationship?

In a designated agency relationship, it is crucial to disclose the interests of the agent in the transaction. This means that if the agent has any personal stake or financial interest in the property or the transaction itself, that information must be made transparent to all parties involved. This disclosure is essential to maintain trust and ensure that all parties are aware of any potential conflicts of interest, which could affect the agent's impartiality or the integrity of the transaction.

Understanding this disclosure requirement helps build a foundation for ethical conduct in real estate practices. Agents are obligated to act in the best interest of their clients, and any personal interests must not interfere with their professional duties. By revealing such interests, the agent respects the rights of all parties, contributing to a fair real estate transaction process.