Business / Real Estate / Disclosed Dual Agency: Real estate licensing laws may permit dual agency only if the buyer and seller are informed and consent to the brokers representation of both in the same transaction. Although the possibility of conflict of interest still exists, disclosure is intended to minimize the risk for the broker by ensuring that both principals are aware of the effect of dual agency on their respective interests. The disclosure alerts the principals that they may have to assume greater responsibility for protecting their interests than they would if they had independent representation. The broker must reconcile how, as agent, he or she will discharge the fiduciary duties on behalf of both principals, particularly providing loyalty and protecting confidential information.
Agency Noun Synonyms: means, medium, instrumentality, intervention, intercession, action, intermediation, operation, mechanism, force, power, activity, working(s), energy
Business / Finance / Individual Retirement Account (IRA) Rollover: A retirement account that may be established by an employed person. IRA contributions are tax deductible according to certain guidelines, and the gains in the account are tax-deferred. MORE
Business / Taxes / Individual Retirement Annuity: An individual retirement annuity is one type of individual retirement arrangement. It resembles the better-known individual retirement account in most ways, such as annual contribution limits, catch-u MORE