agency

Michigan Agency Disclosure (MCL 339.2517)

Michigan's mandatory written disclosure of the agency relationships available and the duties each creates. It must be given before a potential buyer or seller discloses any confidential information to the licensee, in substantially the statutory form, for transactions involving one to four residential units. The licensee checks seller's agent, buyer's agent (either with a limited service agreement), dual agent, or none of the above, such as a transaction coordinator. An affiliated licensee section states whether designated agency or firm-wide agency applies.