Consumer Information Statement & Agency Disclosure

N.J.A.C. 11:5-6.9

Requires real estate licensees to disclose the available business relationships and to deliver the prescribed Consumer Information Statement on New Jersey Real Estate Relationships as a separate document, with no additions or deletions (other than narrow optional text), at the times the rule specifies. Licensees must verbally inform buyers and sellers of the business relationships before the first discussion of the buyer's motivation or financial ability to buy (or the seller's motivation or desired price), and the rule provides that distributing the CIS alone does not constitute the informed written consent required to act as a disclosed dual agent. Following the Real Estate Consumer Protection Enhancement Act, licensees must use the revised CIS form (in lieu of the form text formerly set out in the rule), which now reflects five relationship types: seller's agent, buyer's agent, disclosed dual agent, transaction broker, and designated agent.