What is the "agency disclosure" in Delaware?

Agency disclosure in Delaware refers to the form that informs clients about the agency relationships established in real estate transactions. This document is crucial because it clarifies the roles and responsibilities of all parties involved, including the obligations of real estate agents to their clients. Understanding agency relationships helps ensure transparency in the transaction process, allowing clients to make informed decisions about whom they are working with and the nature of their relationships.

This form typically outlines whether the agent represents the buyer, the seller, or both (dual agency), which has significant implications for conflicts of interest, loyalty, and fiduciary duties. By having this information upfront, clients can recognize who is advocating for their best interests throughout the transaction.

The other options do not correctly describe the primary purpose of the agency disclosure. Financial obligations relate to the contractual side of the transaction, license confirmations pertain to the credentials of agents and do not address agency relationships, and a summary of property legal rights deals with the legal status of the property rather than the agency relationship dynamics.