                                 CODE OF VIRGINIA

DISCLOSED DUAL AGENCY AND DUAL REPRESENTATION IN COMMERCIAL REAL ESTATE
TRANSACTIONS AUTHORIZED (§ 54.1-2139.01)

A. A licensee may act as a dual agent or dual representative in a commercial
real estate transaction only with the written consent of all clients to the
transaction. A dual agent has an agency relationship under the brokerage
agreements with the clients. A dual representative has an independent contractor
relationship under the brokerage agreements with the clients. Such written
consent and disclosure of the brokerage relationship as required by this article
shall be presumed to have been given as against any client who signs a
disclosure as provided in this section.

B. Such disclosure may be given in combination with other disclosures or
provided with other information, but if so, the disclosure shall be conspicuous,
printed in bold lettering, all capitals, underlined, or within a separate box.
Any disclosure which complies substantially in effect with the following shall
be deemed in compliance with this disclosure requirement:DISCLOSURE OF DUAL
AGENCY OR DUAL REPRESENTATION IN A COMMERCIAL REAL ESTATE TRANSACTIONThe
undersigned do hereby acknowledge disclosure that:The
licensee&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#
8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;..…(name
of broker or salesperson)associated
with&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230
;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;..…(Brokerage
Firm)represents more than one party in this commercial real estate transaction
as follows:Brokerage Firm represents the following party (select one):[ ]
Seller(s) [ ] Buyer(s) [ ] Landlord(s) [ ] Tenant(s)As a (select one):[ ] agent
[ ] independent contractorBrokerage Firm represents another party (select one):[
] Seller(s) [ ] Buyer(s) [ ] Landlord(s) [ ] Tenant(s)As a (select one):[ ]
agent [ ] independent contractorThe undersigned understand that the foregoing
dual agent or dual representative may not disclose to either client any
information that has been given to the dual agent or representative by the other
client within the confidence and trust of the brokerage relationship except for
that information which is otherwise required or permitted by Article 3
(§ 54.1-2130 et seq.) of Chapter 21 of Title 54.1 of the Code of Virginia to
be disclosed.The undersigned by signing this notice do hereby acknowledge their
informed consent to the disclosed dual representation by the
licensee&#8230;&#8230;&#8230;&#8230;&#8230;..…&#8230;&#8230;&#8230;&#8230;&#82
30;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;…DateName (One
Party)&#8230;&#8230;&#8230;&#8230;&#8230;.…&#8230;&#8230;&#8230;&#8230;&#8230;
&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;…DateName (One
Party)&#8230;&#8230;&#8230;&#8230;&#8230;.…&#8230;&#8230;&#8230;&#8230;&#8230;
&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;…DateName (Other
Party)&#8230;&#8230;&#8230;&#8230;&#8230;.…&#8230;&#8230;&#8230;&#8230;&#8230;
&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;…DateName (Other Party)

C. The obligation to make the disclosures required by this section shall not
relieve the licensee of the obligations set out in subsection B of § 54.1-2137
requiring all brokerage relationships to be set out in a written agreement
between the licensee and the client.

D. No cause of action shall arise against a dual representative for making
disclosures of brokerage relationships as provided by this article. A dual
representative does not terminate any brokerage relationship by the making of
any such allowed or required disclosures of dual representation.

E. In any real estate transaction, a licensee may withdraw, without liability,
from representing a client who refuses to consent to a disclosed dual
representation thereby terminating the brokerage relationship with such client.
Such withdrawal shall not prejudice the ability of the licensee to continue to
represent the other client in the transaction or to limit the licensee from
representing the client who refused the dual representation in other
transactions not involving dual representation.

HISTORY: 2012, c. 750; 2016, c. 334.