Michigan HB5228 modifies real estate agency relationship disclosures, requiring brokers to inform clients of their agency status before confidential.
Michigan HB5228 amends the Michigan Compiled Laws to modify the disclosure requirements for real estate agency relationships. The bill mandates that real estate licensees must provide a written agency disclosure to potential buyers or sellers, detailing all types of agency relationships and the duties associated with each, before any confidential information is disclosed. This disclosure must be provided in writing and before any confidential information is shared.
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