Who is responsible for the proper disclosure of Material Facts according to real estate law?

The responsibility for the proper disclosure of material facts lies with both agents and their clients. In real estate transactions, material facts refer to information that could affect the decision-making process of a buyer or seller, such as property conditions, legal issues, or neighborhood dynamics.

Both agents are obligated to actively disclose any known material facts to ensure transparency and protect the interests of their clients. At the same time, sellers have the responsibility to share relevant information about the property that could impact its value or desirability. This dual obligation fosters an environment of honesty and transparency in real estate transactions, promoting informed decision-making for buyers and adherence to legal standards for agents and sellers.

The Real Estate Commission does oversee and enforce compliance with disclosure laws, but it is ultimately the responsibility of the parties involved in the transaction—agents and clients alike—to ensure that all material facts are disclosed appropriately. The listing agent cannot solely carry this responsibility, as it requires collaboration between both agents and their clients to adhere to these legal obligations.