In New Jersey, real estate licensees are required to disclose how they intend to work with buyers and sellers in a real estate transaction. New Jersey law requires that real estate licensees inform prospective buyers and sellers about four specific types of business relationships before the first discussion of financial matters or the motivation for buying or selling.
The Consumer Information Statement, which must be delivered to the buyer or seller at the time of the first meeting, helps explain these relationships:
- Buyer’s agent
- Seller’s agent
- Disclosed dual agent
- Transaction broker
* EXP Realty agents do not work as transaction brokers
Below are four variations of the CIS Statement
Consumer Information Statement with optional receipt & declaration language.
Consumer Information Statement without optional receipt & declaration language.
Consumer Information Statement with optional receipt & declaration language to be used ONLY when brokerage firm (corporation, partnership, sole proprietor, etc.) is the legal owner of the property being sold/leased by individuals license with that brokerage firm.
Consumer Information Statement without optional receipt & declaration language to be used ONLY when brokerage firm (corporation, partnership, sole proprietor, etc.) is the legal owner of the property being sold/leased by individuals license with that brokerage firm.