Question

John is a real estate broker who is looking to act as an intermediary in a transaction. John gives the parties the Intermediary Relationship Notice form. Which of the following parties needs to sign the form...?

The seller only
The buyer only
Both the buyer and seller
The seller and their broker

Answer 1

Both the buyer and seller need to sign the Intermediary Relationship Notice form.

Step-by-step explanation:

Both the buyer and seller need to sign the Intermediary Relationship Notice form.

When John, the real estate broker, acts as an intermediary in a transaction, he provides the Intermediary Relationship Notice form to the parties involved. The purpose of this form is to disclose John's role as the intermediary and establish his relationship with both the buyer and seller.

By signing the form, both the buyer and seller acknowledge that John is acting as an intermediary and that he owes certain duties to both parties, such as confidentiality and fair dealing.