What does the broker relationship disclosure act require in residential sale transactions?

The broker relationship disclosure act mandates that written disclosures be provided in residential sale transactions to ensure transparency in real estate practices. This requirement serves to inform buyers and sellers about the nature of the relationship between them and the broker involved in the transaction. Written disclosures help clarify the roles and obligations of the broker, which is crucial for building trust and preventing misunderstandings. By ensuring that consumers have a clear understanding of their broker's duties and any potential conflicts of interest, this act promotes ethical behavior within the industry and protects the interests of all parties involved.