Therefore, the court concluded that the Broker did not
act as a dual agent and so didn't breach her fiduciary duty to her clients, entitling the Brokerage to its commission.
Looking at the facts, the court determined that the Broker did not
act as a dual agent and so did not breach her fiduciary duty to the Sellers.
Felix, however, is a designated agent for both the seller and the buyers, has received the consent of the two parties to
act as a dual agent, and must treat them impartially.
Felix, however, is already a designated agent for both the seller and the buyers, has received the consent of the two parties to
act as a dual agent, and must treat them impartially.
If this occurs each agent will represent their own client, but RE / MAX Valley Real Estate and its managers will
act as a dual agent.
In the event that the same agent represents both the buyer and seller, that agent and RE / MAX Valley Real Estate will
act as a dual agent but only if both parties agree.
I specialize in a niche market and often
act as a dual agent.
Can I continue to
act as a dual agent for these clients after Rule 5 - 16 comes into effect on June 15, 2018?
Can I continue to
act as a dual agent for these clients after Rule 5 - 16 comes into effect?
Just as the informed consent of both parties is required today before a licensee may
act as a dual agent, informed consent would be required before a licensee could act as a transaction facilitator.
Next, she must determine whether Sam Seller has agreed to let
her act as a dual agent in the transaction and obtain his full, written consent to Rita's new role.
The licensee disclosed that he had previously represented the seller in buying that property, and he would
act as dual agent in the transaction.
The purchaser and seller agreed that the broker, through its associated licensees, would
act as dual agent in the transaction for a luxury home.
The prospective purchaser and seller entered a purchase agreement, with the licensee
acting as a dual agent.
In this decision, the California Supreme Court considered the duty owed by a listing broker to the buyer when the broker is
acting as a dual agent.
The Montana Association of REALTORS ® filed an amicus curiae brief arguing that because the state's law permits licensees to
act as dual agents of the buyer and the seller and «act solely in the best interests» of both parties, a buyer's representative should be able to represent two bidders in the same manner.
In the transaction, the mother and daughter licensees
acted as dual agents for both parties.
Theoretically, if a problem arises, the real estate company (
acting as dual agent or transaction broker) could try to distance itself from legal liability.
The Alabama Supreme Court has ruled that a salesperson who
acted as a dual agent for both the buyers and sellers in a transaction had a fiduciary duty to make accurate statements to buyers when questioned about a property.
Rita I am wondering if it is a wise idea to attend the home inspections if you are
acting as a dual agent or even in single agency.
And yet 30 - 40 % of the time they can not use these skills when
acting as a dual agent.
Even if one of those other licensees has long before established an agency relationship with a buyer, if that buyer becomes interested in any of the brokerage's listings, both the seller and the buyer must first agree for their respective licensees and the brokerage to
act as dual agents before the seller and buyer can begin negotiating the transaction while using the assistance of those two licensees.
It simply means the licensee should avoid
acting as a dual agent.
To
act as dual agents, both licensees and the brokerage must now become impartial, neither advocating the interests of the seller or the buyer, nor providing any advice to either party that would be in conflict to the interests of the other party.
The defendant real estate broker
acted as dual agent for both parties in a real estate transaction.
Pennsylvania federal court rules that real estate brokerage did not owe fiduciary duties to seller when
acting as a dual agent and so dismissed those claims against brokerage but allowed other claims made against brokerage to continue.
When the broker,
acting as a dual agent, showed the property to the buyer, he said the property belonged to a friend.
The Broker and Salesperson also concluded that they could
act as dual agents in the transaction.
As discussed in the question above, a brokerage
acting as a dual agent, whether through one licensee or two or more licensees of the same brokerage, receives its remuneration (typically) by way of the listing contract it has entered into with the seller.
Here, Broker CB
acted as the dual agent of buyer and seller.
«The partnership with my brother is structured where he works exclusively for our buyers and I serve all of our sellers.We have made the decision not to
act as dual agents in order to always be able to represent our client's best interest.
The potential purchaser and seller entered an agreement, with the listing broker
acting as dual agent in the transaction.
Licensee
acting as dual agent could be liable for failing to act in the best interest of the potential purchaser.
If you do not agree to your agent
acting as a dual agent, you can ask that another agent in our company be assigned to represent you or you can seek representation from another brokerage.
Or, depending on company policy, the agents may
both act as dual agents and remain neutral in the transaction.
the listing licensee should be aware that if acting as a limited dual agent for both the buyer who wishes to present a referential offer and the seller, the usual principles of dual agency apply and the licensee should ensure that both parties understand the limitations of the licensee
acting as a dual agent.
The Sellers argued that the Broker breached her fiduciary duty to them when she showed other properties to the Buyer without disclosing to the Sellers that she was
acting as a dual agent.
When a licensee is
acting as a dual agent, the licensee needs to disclose this fact to his / her client and failure to do so is a breach of his / her fiduciary duty.
Issue: When a broker
acts as a dual agent, representing both buyer and seller in a real property transaction — does the salesperson acting under the broker have the same fiduciary duty to buyer and seller as the broker?
Not exact matches
The best evidence for the treatment of centralized pain conditions include centrally
acting agents like
dual uptake inhibitors, and anticonvulsants,
as well
as exercise and cognitive behavioral therapy, authors write.
«Seller's
agents and
dual agents do not and can not by law give a buyer the same degree of loyalty
as an
agent who
acts on behalf of a buyer,» the court said in its ruling.
By sending a letter with an evaluation to Mr Comfree you may have crossed the line and
acted as an undisclosed
dual agent.
The appellate court concluded that the potential purchaser presented some evidence showing that the licensee may not have
acted in the would - be purchaser's best interest
as dual agent.
My greatest concern would be for the liability of the
dual agent (in the same office
as the listing
agent) deemed to have the knowledge and, in
dual agency jurisdictions, unable to
act under the umbrella of a transaction brokerage
as a designated
agent.
If any of these
agents was
acting as a
Dual Agent they are clearly in big problems if challenged by the Seller.
The buyers sued the sellers and the two sales associates, a team
acting as disclosed
dual agents, claiming they had knowingly violated the federal Residential Lead - Based Paint Hazard Reduction
Act of 1992.
The ATF considered designated agency to be a positive alternative to in - house
dual agency when there is a licensee
acting as sole
agent for the seller, another licensee engaged by the same brokerage who is
acting as sole
agent for a buyer, and the buyer becomes interested in the property offered for sale by the seller.
The court held that a broker's actions and words to a prospective purchaser may be sufficient to establish an agency relationship, and that a broker
acting as an undisclosed
dual agent may be held liable for breach of fiduciary duties and unfair dealing.
A buyer who relies on the seller's
agent or on
dual agency does not receive the same degree of legal protection
as that afforded by an
agent acting solely on behalf of the buyer.»
Also called, among other things «appointed agency,» this is a brokerage practice that allows the managing broker to designate which licensees in the brokerage will
act as agents of the seller, and which will
act as agents of the buyer, without the individual licensees being
dual agents.