What is the Idaho Agency Disclosure Brochure?

The Idaho Agency Disclosure Brochure is a document that is provided to clients by real estate agents in Idaho, as required by the Idaho Real Estate Commission (IREC). The brochure is intended to inform clients about the different types of agency relationships that can exist between a client and a real estate agent, and the responsibilities of the agent to the client under each type of relationship.

IMPORTANT: The Idaho Agency Disclosure Brochure provided by the Idaho Real Estate Commission is not a contract and does not form an agency relationship between you and an agent if you sign it. It is simply an acknowledgement that the brochure was given to you, indicating that you understand the different forms of agency in Idaho. Your agent is required by the state to show proof of acknowledgement. The signature strip that the agent takes with your signature must be held by your agent as proof of acknowledgement.

There are three types of agency relationships recognized in Idaho:

• Single agency: In this relationship, the agent represents only the client and has a fiduciary duty to act in the client's best interests.
  
  
• Limited Dual Agency: Dual agency is a type of agency relationship in which a real estate agent represents both the seller and the buyer in a real estate transaction. In Idaho, dual agency is permissible, but it is heavily regulated by the Idaho Real Estate Commission (IREC). Dual agency is only allowed if both the buyer and the seller have provided their informed consent and agreed to the arrangement in writing.
  
  In a dual agency relationship, the agent has a fiduciary duty to both the buyer and the seller. However, the agent must be neutral and cannot disclose any confidential information or advocate for one party over the other. The agent must treat all parties fairly and disclose any known information that may affect the transaction.
  
  It's important to note that if dual agency is not disclosed, it can be considered as a violation of the IREC's rules and regulations, and can lead to disciplinary action.
  
  It's also important for clients to understand that in a dual agency situation, the agent may have divided loyalties, which can be tricky. This is why clients should be fully informed of the dual agency and the implications of it before they agree to it.
  
  Overall, dual agency can be beneficial in certain situations, but it is important that clients are fully informed and understand the implications of this type of agency relationship before entering into it. The Idaho Agency Disclosure Brochure can provide more information about dual agency and other agency relationships.
  
  There are two types of Limited dual agency, assigned and unassigned.  Your agent will explain the difference if needed or you can refer to the brochure below.
  
  
• Non-agent: In this relationship, the agent does not represent the client and has no fiduciary duty to the client.
  
  The brochure also includes information about the agent's legal duties and responsibilities, such as the duty to disclose known defects in a property and the duty to keep client information confidential.

The Idaho Agency Disclosure Brochure is a requirement by the IREC, and is an important document for clients to read and understand before entering into an agency relationship with a real estate agent. It helps to ensure that clients are aware of their rights and the obligations of the agent, and that clients can make informed decisions about the representation they want to receive.

See a copy of the Idaho Agency Disclosure Brochure (PDF)