Direct answer
What does Informed consent mean?
Agreement given after a person receives enough material information to understand the relationship and its consequences.
Exam cue: For dual agency, look for disclosure of limited loyalty and the affected principals' written consent.
What does it look like in a question?
New York example
A buyer reads the dual agency explanation, asks questions and signs the consent section.
Common exam trap
What should you not confuse it with?
A signature alone is not a substitute for meaningful disclosure.
Related agency terms
AccountingThe fiduciary duty to safeguard and properly account for money, documents and property entrusted to the agent.AgencyA relationship in which an agent is authorized to act for a principal and owes duties within that relationship.Broker's agentAn agent who cooperates with or is engaged by another agent without becoming a subagent of that agent's principal.ClientA principal who is represented by a real estate agent.CustomerA person who receives services from a licensee but is not represented by that licensee as an agent.Designated sales agentA sales agent appointed within a disclosed dual agency arrangement to advocate for one principal in negotiations.
Sources used2 references with section locators
The curriculum citation confirms exam scope. Definition and rule citations support the explanation itself. Links and locators were checked on August 26, 2026.
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