NEW YORK-New legislations instituted in New York will requirerealty brokers to disclose information to sellers and buyers ofcondos and co-ops in written form describing the relationshipbetween the brokers and their clients and the responsibilities ofthe brokers.
The new rule will provide higher transparency in "dual agent"situations, where a single broker or brokerage house represent boththe seller and the buyer in the transaction. The law will takeeffect from January 2011. For the full story, go toThe Wall Street Journal.
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