Informed consent to practice dual agency is required by which governing entities?

Informed consent to practice dual agency is required by both California law and the National Association of Realtors (NAR) code of ethics, making this the correct answer.

California law specifically regulates dual agency situations to ensure that all parties involved are fully aware of and agree to the agency relationship. Under California law, a real estate broker must disclose their dual agency status and obtain the informed consent of both parties affected by the transaction. This requirement protects consumers and promotes transparency in the real estate process.

Additionally, the National Association of Realtors has its own code of ethics that emphasizes the importance of transparency and fair dealing in real estate transactions. This code requires realtors to disclose dual agency relationships and obtain informed consent from all parties, reinforcing the legal requirements established by California law.

Thus, both governing entities work together to ensure that consumers are properly informed and protected in dual agency scenarios, which is pivotal in maintaining trust and integrity in the real estate profession.