JARED - THE GALLERIA OF JEWELRY1174 South Washington Street

North Attleboro (Greater Boston), MA 02760investment offering

ACTUAL SITE

DISCLAIMER

John R. Wertz Greg LaBarre Tel: (619) 218-6427 Tel: (619) 997-1242jwertz@wertzrealestate.com glabarre@wertzrealestate.com CA Lic No. 01448585 CA Lic. No. 02069301

Financial Overview

Tenant Overview

Executive Summary

Property Photos

Location Map

Area Map

Market Overview

Demographic Report

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Listed with Massachusetts broker David B Zacharia Lic. No. 150946

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This Marketing Package was prepared by Wertz Real Estate Investment Services and David B Zacharia (“Broker”) solely for the use of prospective buyer considering the purchase of the Property within (the “Property”) and is not to be used for any other purpose. Neither the Broker nor the Owner of the Property make any representation or warranty, expressed or implied, as to the completeness or accuracy of the material contained in the Marketing Package.

Prospective purchasers of the Property are advised that changes may have occurred in the physical or financial condition of the Property since the time this Marketing Package or the financial statements herein were prepared. Prospective purchasers acknowledge that this Marketing Package and the financial statements herein were prepared by Broker, and not by Owner, and are based upon assumptions or events beyond the control of both Broker and Owner, and therefore may be subject to variation. Other than current and historical revenue and operating expense figures for the Property, Owner has not, and will not, provide Broker or any prospective purchaser with any projections regarding the Property. Prospective purchasers of the Property are advised and encouraged to conduct their own comprehensive review and analysis of the Property.

The Marketing Package is a solicitation of interest only and is not an offer to sell the Property. The Owner and Broker expressly reserve the right, at their sole discretion, to reject any or all expression of interest or offers to purchase the Property and expressly reserve the right, at their sole discretion, to terminate discussions with any entity at any time with or without notice.

The Owner shall have no legal commitments or obligations to any entity reviewing the Marketing Package or making an offer to purchase the Property unless and until such offer is approved by Owner pursuant to its Governing Authorities and the signature of the Owner or Owner’s representative is affixed to a Real Estate Purchase Agreement prepared by Owner.

This Marketing Package is confidential. By accepting the Marketing Package, you agree (i) that you will hold and treat the Marketing Package and its contents in the strictest confidence, (ii) that you will not photocopy or duplicate any part of the Marketing Package, (iii) that you will not disclose the Marketing Package or any of its contents to any entity without the prior authorization of the Owner, and (iv) that you will not use the Marketing Package in any fashion or manner detrimental to the Owner or Broker.

Broker has obtained the information contained in this Marketing Package from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, changes of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions, or estimates for example only, and they may not represent current or future performance of the Property. You and your tax and legal advisors should conduct your own investigations of the physical condition of the Property and of the financial performance of its future Ownerships.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT BROKER FOR MORE DETAILS.

TABLE OF CONTENTS

For more information contact:

financial overview

The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.

Listed with Massachusetts broker David B Zacharia Lic. No. 150946

PRICE $4,000,000

DOWN PAYMENT 100% / $4,000,000

RENTABLE SQUARE FEET 6,371

cap rATE 7.50%

avg. cap rATE (initial term) 8.70%

year built 2019

lot size 21,780 +/- SF

type of ownership Leasehold

OFFERING SUMMARY

TENANT TRADE NAME Jared

OWNERSHIP Public

LEASE GUARANTOR Corporate

LEASE TYPE Absolute NNN (Leasehold Interest)

roof & structure Tenant Responsible

original lease term Twenty (20) Years

rent commencement date 10/21/2019

lease expiration date 10/20/2039

term remaining on lease Twenty (20) Years

increases 10% Every 5-Years

OPTIONS TO RENEW (1) 5-Year Option

RIGHT OF FIRST REFUSAL No

TENANT SUMMARYANNUALIZED OPERATING DATA

Rent Increases MONTHLY Rent YEARLY Rent

Years 1-5 $25,000.00 $300,000.00

Years 6-10 $27,500.00 $330,000.00

Years 11-15 $30,250.00 $363,000.00

Years 16-20 $33,275.00 $399,300.00

Years 21-25 (Option 1) FMV FMV

BASE RENT $300,000.00

NET OPERATING INCOME

TOTAL RETURN yr-1 7.50% $300,000.00

ACTUAL SITE

TENANT overview

The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.

TENANT TRADE NAME Jared

OWNERSHIP Public

LEASE GUARANTOR Corporate

LEASE TYPE Absolute NNN (Leasehold Interest)

roof & structure Tenant Responsible

original lease term Twenty (20) Years

rent commencement date 10/21/2019

lease expiration date 10/20/2039

term remaining on lease Twenty (20) Years

increases 10% Every 5-Years

OPTIONS TO RENEW (1) 5-Year Option

RIGHT OF FIRST REFUSAL No

BASE RENT $300,000.00

NET OPERATING INCOME

TOTAL RETURN yr-1 7.50% $300,000.00

PROPERTY NAME Jared - The Galleria of Jewelry PROPERTY ADDRESS 1174 South Washington Street North Attleboro, MA 02760

PROPERTY TYPE Net Lease Retail

PARENT COMPANY Signet Jewelers Ltd.

oWNERSHIP Public

LEASE GUARANTOR Sterling Jewelers, Inc.

stock symbol SIG

BOARD NYSE

TERM REMAINING ON LEASE Twenty (20) Years

OPTIONS TO RENEW (1) 5-Year Option

lease type Absolute NNN (Leasehold Interest)

LANDLORD RESPONSIBILITY None

INCREASES 10% Every 5-Years

year 1 net operating income $300,000

no. of locations 3,600+

headquartered Akron, OH

website www.sterlingjewelers.com

years in the business Since 1910

The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.

ABOUT THE TENANTJared the Galleria of Jewelry (”Jared”), operates under Sterling Jewelers, Inc. (”Sterling”), a wholly owned subsidiary of Signet Jewelers Limited (”Signet”) (NYSE: SIG). Signet Jewelers Limited is the world’s largest retailer of diamond jewelry and the largest specialty jewelry retailer in the US, UK and Canada. Signet currently operates over 3,600 stores under the brands Kay Jewel-ers, Zales, Jared the Galleria of Jewelry, H. Samuel, Ernest Jones, Peoples and Piercing Pagoda. The company’s annual sales of approximately $6 billion derive from the retailing of jewel-ry, watches and associated services. Signet’s shares are listed on the New York Stock Exchange (SIG) and it maintains a credit rating of BB/Stable from Standard & Poor’s.

Jared the Galleria of Jewelry is the leading off-mall destination specialty retail jewelry chain in the US, with 274 stores in 41 states. Jared accounted for 19% of Signet’s sales in Fiscal 2018. Jared offers superior customer service with an enhanced jewelry selection. Each location has an on-site design and service center where repair and custom items are completed. Jared locations are typically free-standing with high visibility and traffic flow operating in retail centers that contain strong retail co-tenants. Jared targets an upper mid-market jewelry customer.

The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.

executive summaryINVESTMENT OVERVIEWWe are pleased to present for sale the leasehold interest in a newly constructed free-standing Jared the Galleria of Jewelry store located in North Attleboro (Greater Boston), Massachusetts. There are 40 years remaining on the ground lease and the new 20-year absolute NNN lease with Jared includes 10% rental increases every 5-years. The lease is corporately guaranteed by Sterling Jewelers, Inc., a wholly owned subsidiary of Signet Jewelers Limited (NYSE: SIG), the world’s largest retailer of diamond jewelry and the largest specialty jewelry retailer in the US, UK and Canada. Signet currently operates over 3,600 stores under the brands Kay Jewelers, Zales, Jared, H. Samuel, Ernest Jones, Peoples and Piercing Pagoda. The company’s annual sales of approximately $6 billion derive from the retailing of jewelry, watches and associated services.

Jared specifically chose this site as one of its five “Millennium” stores in the United States with specialized architecture and construction. The site sits as an outparcel to a proposed Whole Foods and is located directly across the street from the Emerald Square Shopping Mall, a one million square foot, 3-story shopping mall with 4 anchor tenants and 126 shop retailers. Adjacent to the subject property, there is a brand new Sleep Number which just opened and a BJ’s Restaurant currently slated to open February, 2020. The site benefits from its great visibility along South Washington Street, which boasts over 38,000 cars per day.

North Attleboro is an affluent town located just 39 miles southwest of Boston. With average household income exceeding $148,000 in a 1-mile radius, North Attleboro is the ideal market for Jared, who targets the upper mid-market jewelry customer. National retailers in the immediate vicinity include Macy’s, Verizon, J.C. Penny, Hollister, Forever 21, T-Mobile, Men’s Warehouse, H&M, PacSun, Target, Starbucks, CVS, PetSmart, Michael’s, Best Buy, Walmart, Dunkin’ Donuts, Lowe’s, Dick’s Sporting Goods, Bed Bath & Beyond, JoAnn, Ulta, DSW, Old Navy, Marshall’s, Panera Bread, Dollar Tree, Sleep Number, BJ’s, and many more. This is an excellent opportunity for an investor to purchase a stable, long term investment with zero landlord responsibility.

INVESTMENT HIGHLIGHTS• One of Five “Millennium” Stores in the United States, this Location Boasts Unique Architecture and Style

• Brand New 20-Year Absolute NNN Lease with 10% Rental Increases Every 5-Years (40 Years Remaining on Ground Lease)

• Leasehold Interest - 100% Depreciable Asset with Entire Purchase Price Recaptured in Year 11 of Ownership

• Corporate Guarantee from Sterling Jewelers Inc., a Wholly Owned Subsidiary of Signet Jewelers Limited (NYSE: SIG)

• Located at the Signalized Entrance to Emerald Square, a 1,000,000 SF Enclosed Mall Anchored by Macy’s and J.C. Penny

• Traffic Counts Exceed 38,000 Vehicles Per Day

• Affluent Trade Area with Average HH Income Exceeding $148,000 in 1-mile Radius

The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.

ACTUAL SITE

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The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.

AERIAL PHOTO

The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.

(Proposed)

2020 Opening

S Washington St. 38,000 VPD

subject property

The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.

(Proposed)

2020 Opening

subject property

The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.

S Washington St. 38,000 VPD

(Proposed)

2020 Opening

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38

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subject property

The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.

(Proposed)

subject property

The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.

LOCATION MAP

The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.

AREA MAP

The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.

The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.

Gillette Stadium

NORTH ATTLEBORO (GREATER BOSTON), MANorth Attleboro, MA is a town in Bristol County, MA. It is located 39 miles southwest of Boston and 16 miles north of Providence, RI. It is part of the Providence-Warwick, RI-MA Metropolitan Statistical Area, which extends into eight counties across two states, and is the 38th largest metropolitan area in the United States. Anchored by the city of Providence, Rhode Island, it has an estimated population that exceeds 1.6 million residents. The local economy of Providence-Warwick, RI-MA is very strong and currently employs approximately 823,000 people. Its Gross Metropolitan Product is the country's 42nd largest at $64.7 billion, just above the Gross State Product of the entire state of Hawaii. Since 2006, the Providence metropolitan area has been officially included in the Greater Boston Combined Statistical Area (CSA), the sixth-largest CSA in the country, with over 8 million residents.

North Attleboro’s location allows for easy access to the 3 major markets of Boston, Worcester, and Providence. HWY 1/Washington St is the major North-South thoroughfare that runs the length of the entire East Coast and provides access to all the major East Coast markets. This affluent town is located in the heart of numerous corporate headquarters, including CVS, Textron, United Natural Foods and Citizens Financial Group. In addition, there are approximately eleven Fortune 500 companies within a one-hour drive from North Attleboro. This area is also home to three major universities - the University of Rhode Island, Johnson & Wales University and the prestigious Brown University.

MARKET overview

The Local Economyis Very Strong and Currently Employs Approximately 823,000 People

Home to ThreeMajor Universities (URI, Johnson & Wales, and Brown University)

Part of the Greater BostonCSA, the Sixth Largest CSA in the U.S. with Over 8 Million Residents

The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.

population 1 MILE 3 MILES 5 miles

2024 Projection 1,861 44,943 166,177

2019 Estimate 1,810 43,802 162,897

2010 Census 1,752 42,277 158,281

2000 Census 1,583 39,973 154,079

Percent Change 2000-2010 10.68% 5.76% 2.73%

Percent Change 2010-2019 3.31% 3.61% 2.92%

Percent Change 2019-2024 2.82% 2.60% 2.01%

Median Age 41.99 42.15 39.85

households 1 MILE 3 MILES 5 miles

2019 Est. Avg. HH Income $148,294 $120,248 $94,043

2024 Projection 640 17,452 65,041

2019 Est. Households 623 16,991 63,635

2010 Census 604 16,350 61,531

2000 Census 548 15,422 60,102

Percent Change 2000-2010 10.22% 6.02% 2.38%

Percent Change 2010-2019 3.15% 3.92% 3.42%

Percent Change 2019-2024 2.73% 2.71% 2.21%

DEMOGRAPHIC REPORT

The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.

The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.

ACTUAL SITE

Wertz Real Estate Investment Services3138 Roosevelt Street, Suite L

Carlsbad, CA 92008Tel: (619) 218-6427Fax: (858) 408-1830

www.wertzrealestate.com

Listed with Massachusetts broker David B Zacharia license 150946

The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.

Last Revised: January 24, 2017

BOARD OF REGISTRATION OF REAL ESTATE BROKERS AND SALESPERSONS www.mass.gov/dpl/boards/re

MASSACHUSETTS MANDATORY REAL ESTATE LICENSEE-CONSUMER RELATIONSHIP DISCLOSURE

THIS IS NOT A CONTRACT

This disclosure is provided to you, the consumer, by the real estate licensee listed in this disclosure.

THE TIME WHEN THE REAL ESTATE LICENSEE MUST PROVIDE THIS NOTICE TO THE CONSUMER:

All real estate licensees must present this form to you at the first personal meeting with you to discuss a specific property. In the event this relationship changes, an additional disclosure must be provided and completed at that time.

CONSUMER INFORMATION AND RESPONSIBILITY:

If you are a buyer or seller, you can engage a real estate licensee to provide advice, assistance and representation to you as your agent. The real estate licensee can represent you as the seller (Seller's Agent) or represent you as the buyer (Buyer's Agent), or can assist you as a Facilitator.

All real estate licensees, regardless of the working relationship with a consumer must, by law, present properties honestly and accurately, and disclose known material defects in the real estate.

The duties of a real estate licensee do not relieve consumers of the responsibility to protect their own interests. If you need advice for legal, tax, insurance, zoning, permitted use, or land survey matters, it is your responsibility to consult a professional in those areas. Real estate licensees do not and cannot perform home, lead paint, or insect inspections, nor do they perform septic system, wetlands or environmental evaluations.

Do not assume that a real estate licensee works solely for you unless you have an agreement for that relationship.

For more detailed definitions and descriptions about real estate relationships, please see page 2 of this disclosure.

THE SELLER OR BUYER RECEIVING THIS DISCLOSURE IS HEREBY ADVISED THAT THE REAL ESTATE

LICENSEE NAMED BELOW IS WORKING AS A: Check one: Seller's agent Buyer's agent Facilitator

above, the real estate licensee must complete the following section:

Check one: Non-Designated Agency Designated Agency

The real estate firm or business listed below and all other affiliated agents are also working as the agent of the Seller Buyer

Only the licensee named herein represents the Seller Buyer (designated seller agency or designated

buyer agency). In this situation any other agents affiliated with the firm or business listed below do not represent you and may represent another party in your real estate transaction.

By signing below, I, the real estate licensee, acknowledge that this disclosure has been provided to the consumer named herein:

Broker SalespersonSignature of Real Estate Licensee Printed Name of Real Estate Licensee License #

Name Real Estate Brokerage Firm Brokerage Firm Real Estate License #

Buyer Seller Signature of Consumer Printed Name of Consumer

Buyer SellerSignature of Consumer Printed Name of Consumer

Check here if the consumer declines to sign this notice.

X

X

X

David B Zacharia 150946 x

David B Zacharia 150946

Last Revised: January 24, 2017

TYPES OF AGENCY REPRESENTATION

SELLER'S AGENT A seller can engage the services of a real estate licensee to This means that the real estate agent represents the seller, who is a client. The agent owes the seller client undivided loyalty, reasonable care, disclosure, obedience to lawful instruction, confidentiality and accounting. The agent must put the seller's interests first and attempt to negotiate price and terms acceptable to their seller client. The seller may authorize sub-agents to represent him/her in marketing its property to buyers, however the seller should be aware that wrongful action by the real estate agent or sub-agents may subject the seller to legal liability for those wrongful actions.

BUYER'S AGENT A buyer can engage the services of a real estate licensee to of a property. This means that the real estate agent represents the buyer, who is a client. The agent owes the buyer client undivided loyalty, reasonable care, disclosure, obedience to lawful instruction, confidentiality and accounting. The agent must put the buyer's interests first and attempt to negotiate price and terms acceptable to their buyer client. The buyer may also authorize sub-agents to represent him/her in purchasing property, however the buyer should be aware that wrongful action by the real estate agent or sub-agents may subject the buyer to legal liability for those wrongful actions.

(NON-AGENT) FACILITATOR When a real estate licensee works as a facilitator that licensee assists the seller and/or buyer in reaching an agreement but does not represent either the seller or buyer in the transaction. The facilitator and the broker with whom the facilitator is affiliated, owe the seller and buyer a duty to present all real property honestly and accurately by disclosing known material defects and owe a duty to account for funds. Unless otherwise agreed, the facilitator has no duty to keep information received from a seller or buyer confidential. Should the seller and/or buyer expressly agree, a facilitator relationship can be changed to a seller or buyer client relationship with the written agreement of the person so represented.

DESIGNATED SELLER'S AND BUYER'S AGENT A real estate licensee can be designated by another real estate licensee (the appointing or designating agent) to represent a buyer or seller, provided the buyer or seller expressly agrees to such designation. The real estate licensee once so designated is then the agent for that buyer or seller who becomes client. The designated agent owes the buyer client or seller client, undivided loyalty, reasonable care, disclosure, obedience to lawful instruction, confidentiality and accounting. The agent must put their client's interests first, and attempt to negotiate price and terms acceptable to their client. No other licensees affiliated with the same firm represent the client unless otherwise agreed upon by the client. In situations where the appointing agent designates another agent to represent the seller and an agent to represent the buyer in the same transaction, then the appointing agent becomes a dual agent. Consequently, a dual agent cannot fully satisfy the duties of loyalty, full disclosure, obedience to lawful instructions, which is required of a seller or buyer agent. Only your designated agent represents your interests. Written consent for designated agency must be provided before a potential transaction is identified, but in any event, no later than prior to the execution of a written agreement for purchase or sale of residential property. The consent must contain the information provided for in the regulations of the Massachusetts Board of Registration of Real Estate Brokers and Salespeople (Board). A sample consent to designated agency is available at the Board's website at www.mass.gov/dpl/re.

DUAL AGENT A real estate licensee may act as a dual agent representing both the seller and the buyer in a transaction but only with the express and informed written consent of both the seller and the buyer. A dual agent shall be neutral with regard to any conflicting interest of the seller and buyer. Consequently, a dual agent cannot satisfy fully the duties of loyalty, full disclosure, obedience to lawful instructions, which is required of a seller or buyer agent. A dual agent does, however, still owe a duty of confidentiality of material information and accounting for funds. Written consent for dual agency must be provided before a potential transaction is identified, but in any event, no later than prior to the execution of a written agreement for purchase or sale of residential property. The consent must contain the information provided for in the regulations of the Massachusetts Board of Registration of Real Estate Brokers and Salespeople (Board). A sample consent to dual agency is available at the Board's website at www.mass.gov/dpl/re.