Under what condition can a real estate license be revoked regarding acting for multiple parties?

The reason that written consent from all parties is necessary in real estate transactions when acting for multiple parties is to ensure transparency and fairness throughout the process. This requirement helps to prevent conflicts of interest and protects the interests of all parties involved.

When an agent acts for more than one party in a real estate transaction, they have a fiduciary duty to provide equal service and loyalty to each client. If one party is represented without the knowledge or consent of another, it can lead to potential ethical dilemmas and misunderstandings. Written consent is a safeguard that clarifies the relationships and expectations between the parties and the agent, reinforcing trust and accountability.

This written agreement not only aligns with legal requirements but also upholds professional standards within the industry. It protects agents from potential legal issues that can arise from perceived deception or betrayal of trust.