Agent/Relative Disclosure

Agent acting as a principal.
Agent Buyer:
All parties understand that Buyer is a California Real Estate Licensee (CalBRE # xxxxxxx) acting solely for his or her own account and purchasing  the above referred to property in anticipation of making a substantial profit. All parties understand that Buyer is not represented in this transaction by CENTURY 21 Alpha.  The Seller understand, acknowledge and agree that Buyer cannot provide any real estate, legal and/or tax advice. Seller is advised by Buyer to seek the advice of their own Real Estate Professional, Attorney and Tax Professional with regard to the legal validity and consequences thereof of ALL the terms and conditions stated herein.


The Seller may terminate this agreement based on Seller's Real Estate Professional, Attorney or Tax Professional reasonable disapproval within 10 (or €_______) days after acceptance hereof. Seller shall notify Buyer of such approval and/or disapproval within said time.  In the event Seller does not terminate this agreement in writing within said time, Seller is conclusively presumed to have waived said termination.

Agent Seller:

All parties understand that Seller is a California Real Estate Licensee (CalBRE # xxxxxxx) acting solely for his or her own account. All parties understand that Seller is not represented in this transaction by CENTURY 21 Alpha.  The Buyer understand, acknowledge and agree that Seller cannot provide any real estate, legal and/or tax advice.

Buyer is advised by Seller to seek the advice of their own Real Estate Professional, Attorney and Tax Professional with regard to the legal validity and consequences thereof of ALL the terms and conditions stated herein.

The Buyer may terminate this agreement based on Buyers' Real Estate Professional, Attorney or Tax Professional reasonable disapproval within 10 (or €_______) days after acceptance hereof. Buyer shall notify Seller of such approval and/or disapproval within said time.  In the event Buyer does not terminate this agreement in writing within said time, Buyer is conclusively presumed to have waived said termination.

Principal acting without agent.

All parties understand that [Buyer or Seller] is not represented in this transaction by CENTURY 21 Alpha.  CENTURY 21 Alpha is exclusively the agent for [Buyer or Seller], and cannot and will not perform any of the functions that would normally be performed by CENTURY 21 Alpha for the [Buyer or Seller].

Agent related to principal.

It is understood by all parties that [name of agent]  (CalBRE # xxxxxxx) is related to [specify which principal] by blood or marriage.

Note: When an agents is the principal only, the agent CANNOT USE ANY FORMS WITH CENTURY 21 Alpha on said forms.

NO EXCEPTIONS.

Secret Profit: The practice of real estate agents making money on the sale of their client's real estate above the amount paid as a commission.This typically occurs when an agent recommends a sale to a friend, relative, or a corporation in which the agent owns an interest, and then the agent profits on a resale or development of the property.Secret profits violate the fiduciary responsibilities owed to the client,making the agent liable for punitive damages,payment of the profit to the client, and possible loss of the agent's real estate license.

Secret Profits

* Secret profit is any benefit the agent receives from the transaction which is not fully disclosed to and approved by the principal

* An agent will not be permitted to retain anything in connection with the transaction unless the agent fully discloses the nature and amount of the benefit and receives the approval of the principal.

- It is totally immaterial that the transaction is otherwise fair to the principal or that the principal receives exactly the price wanted for the property

* Principal is entitled to recover all benefits and advantages acquired by the agent, exclusive of the agent's agreed compensation

* Most common secret profit case involves purchase of the principal’s property by the agent or a related party

A transaction between the principal and an agent is presumed to be a violation of the agent's duty of loyalty 

Best solution to this risk is to purchase a property in which the seller is represents by another agent not CENTURY 21 Alpha.

If you intend to Sell, you should use the services of CENTURY 21 Alpha as your agent.

Bottom line you may not save any money acting as a principal only.