Which of the following is one of the first steps in a dual agency process?

In the dual agency process, one of the first steps is to establish a clear understanding between the parties involved about the representation. This is typically done through a formal dual agency agreement. By signing this agreement, the agent discloses their role to both the buyer and the seller, ensuring that both sides are aware of the potential conflicts of interest and the agent's responsibilities to each party.

While working with a REALTOR form might be part of the overall process, it does not directly address the establishment of agency relationships, which is crucial at the outset of any transaction. The primary focus should be on formalizing the dual agency status before proceeding with subsequent actions, such as drafting agreements or presenting offers. This foundational step is vital for maintaining transparency and protecting the interests of all parties involved in the transaction.