What is limited joint representation?
Joint representation is an agency relationship in which the real estate firm acts for both parties to a transaction with the informed consent of both. It can arise if a salesperson represents both the seller and the buyer OR if one salesperson employed by the firm represents the seller and another salesperson employed by the firm, including another branch office of the firm, represents the buyer. Limited joint representation is a form of joint representation that is subject to certain defined restrictions about what can and what cannot be disclosed; there are limitations on the duties of confidentiality and disclosure; i.e., – the salesperson cannot disclose what the buyer is willing to pay or the seller is willing to accept; – the salesperson cannot disclose the motivation of either party unless authorized to do so; – the salesperson cannot disclose personal information of or about the buyer or seller unless authorized to do so; – the salesperson cannot disclose information about comp
