In real estate, what must you obtain from both parties when acting as a dual agent?

When acting as a dual agent in real estate, it is essential to obtain advanced written consent from both parties involved in the transaction. This requirement exists because dual agency presents potential conflicts of interest since the agent represents both the buyer and the seller simultaneously. By obtaining advanced written consent, the agent ensures that both parties are fully aware of the dual agency relationship and agree to it, thereby promoting transparency and trust in the transaction process.

This written consent not only protects the interests of the parties but also is a legal requirement in many jurisdictions, including Massachusetts. Without this consent, an agent could face legal repercussions for failing to disclose their dual role, which could lead to disputes regarding the agency's obligations. Verbal agreements and general consent are insufficient in this context as they do not provide the same level of assurance or legal protection as documented consent. A commitment agreement, on the other hand, is not relevant to the concept of dual agency.