CALIFORNIA

- Melanie is giving a listing presentation to the Caldwells.

- A prospective buyer has just walked into Zenith Realty's office and asked Miguel to help her start looking for homes.

- Debbie, the prospective selling agent, and Kevin, the listing agent, are at Kevin's office with the seller. Debbie has just submitted her client's offer to purchase to Kevin, and Kevin is about to present the offer to his client.

1. When buyers or sellers are talking to a real estate licensee, why is it important for them to understand whether the licensee is their own agent or the other party's?
2. What's the basic difference between the agency disclosure form and the agency confirmation statement?
3. What are the agency disclosure requirements in each of these situations?