For a broker to act as an intermediary, what is required?

For a broker to act as an intermediary in a transaction, it is essential to have written consent. This requirement ensures that all parties involved are fully aware of and agree to the broker's role as an intermediary, which involves facilitating communication and negotiations between them, while maintaining a neutral position.

Written consent provides a clear, documented agreement that can prevent misunderstandings or disputes later on. It serves to protect all parties' interests and is often a legal requirement in many jurisdictions to ensure transparency and accountability within the transaction process. Thus, having this written agreement establishes the legal framework necessary for the broker's intermediary role to be valid and enforceable.

The need for written consent is not only about compliance with legal standards but also about fostering trust among the parties. This is particularly important in real estate and other transactions where significant financial stakes are involved. Other forms of agreements, such as verbal agreements or implied consent without documentation, may not provide the same level of clarity and protection, and may even lead to legal complications if disagreements arise. Having the explicit written consent of all parties involved is crucial for the broker to successfully operate in an intermediary capacity.