Consent to Act
- ⇒ Purpose of Disclosure
The purpose of the Consent to Act form is for the licensee to obtain the written consent to act for more than one party in a transaction.
- ⇒ Who must provide the disclosure?
The licensee must provide this form to all parties in the transaction if he seeks to act for more than one party.
- ⇒ When is it due?
If a licensee makes such a disclosure, the consent must be obtained from all parties before the licensee may continue to act in his capacity as an agent.
- ⇒ Additional Information
The written consent must include:
- A description of the real estate transaction;
- A statement that the licensee is acting for two or more parties to the transaction and that, in acting for these parties, the licensee has a conflict of interest;
- A statement that the licensee will not disclose any confidential information for 1 year after the revocation or termination of the brokerage agreement unless he is required to do so per court order or he is given written permission by that party;
- A statement that a party is not required to consent to the licensee acting on his behalf;
- A statement that the party is giving his consent without coercion and understands the terms of the consent given.
For more information:
Form: Consent to Act
Website: http://red.nv.gov/uploadedFiles/rednvgov/Content/Forms/524.pdf NRS: 645.252-254
The Consent to Act form is used by a real estate licensee to obtain written consent to represent more than one party in a transaction. The licensee must provide this form to all involved parties and obtain their consent before continuing to act as agent.
The written consent must include a description of the transaction, a statement of conflict of interest, a confidentiality clause, and assurances that consent is given voluntarily. This ensures transparency and protects the interests of all parties involved.