Bill > S149

This bill amends existing Massachusetts General Laws concerning real estate transactions to enhance consumer protection by requiring specific disclosures about dual agency. A dual agent is a real estate licensee who represents both the buyer and the seller in the same transaction, which can create conflicts of interest. The bill mandates that a disclosure form, used in such situations, must clearly state in bold, conspicuous font that a dual agent cannot fully uphold the duties of loyalty and complete disclosure to both parties. Furthermore, this critical information must be verbally explained to both the buyer and the seller, ensuring they understand the limitations of dual agency before proceeding.