Sentences with phrase «acted in a dual agency»

The listing agent then had them sign a BRA with them so they were acting in dual agency, or multiple representation.

Not exact matches

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.

Jim: It is impossible to act in the best interests of all parties in a dual agency situation.

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.

Does everyone really believe that Willaert was acting in the interest of both his clients, if in fact he was in dual agency?

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.

Agents that I have had the pleasure of working with and whom I consider to be extremely ethical, sometimes act like a long - tailed cat in a room full of rocking chairs when they find themselves in a dual agency situation.

In all my years in the business, I have never been questioned by my clients, customers, or lawyers acting for either of the parties about any ethical concerns regarding dual agencIn all my years in the business, I have never been questioned by my clients, customers, or lawyers acting for either of the parties about any ethical concerns regarding dual agencin the business, I have never been questioned by my clients, customers, or lawyers acting for either of the parties about any ethical concerns regarding dual agency.

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.

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.

You can not act for your former client in this scenario because it would amount to dual agency, which is prohibited.

Under the new Rules, dual agency, the practice of acting on behalf of both the buyer and seller on the same trade, will be prohibited except in extremely limited circumstances.

However, this section of the Act is incorrectly constructed in that it actually allows the salesperson, in a dual agency situation, to do exactly what the broker is prohibited from doing — negotiating price and terms.

Prohibit dual agency, the practice of acting on behalf of both the buyer and seller on the same deal, except in extremely limited circumstances.

73 DOS 95 Matter of DOS v. Marotta - consolidation of actions; dual agency; disgorgement of broker commission; broker may act concurrently in a single transaction as an agent and a principal with informed consent of and full disclosure to principal; broker's agreement breached by broker where broker obtained property incompatible with client's stated needs; no broker's fee earned where brokerage agreement breached by broker; broker engaging in business under trade name acts as individual; agency created between broker and buyer by conduct of parties; dual agency allowed upon full disclosure and informed consent of both buyer and seller; no commission earned by broker where breach of fiduciary duty; refund unearned commissions

79 DOS 99 Matter of DOS v. Pagano - disclosure of agency relationships; failure to appear at hearing; proper business practices; unauthorized practice of law; unearned commissions; vicarious liability; fraudulent practice; jurisdiction; ex parte hearing may proceed upon proof of proper service; DOS has jurisdiction after expiration of respondents» licenses as acts of misconduct occurred and the proceedings were commenced while the respondents were licensed; licensee fails to timely provide seller client with agency disclosure form prior to entering into listing agreement and fails to timely provide agency disclosure form to buyer upon first substantive contact; broker fails to make it clear for which party he is acting; broker violates 19 NYCRR 175.24 by using exclusive right to sell listing agreement without mandatory definitions of «exclusive right to sell» and «exclusive agency»; broker breaches fiduciary duties to seller clients by misleading them as to buyer's ability to financially consummate the transaction; broker breaches his fiduciary duty to seller by referring seller to the attorney who represented the buyers when he knew or should have known such attorney could not properly protect seller's interests; improper for broker to use listing agreements providing for broker to retain one half of any deposit if forfeited by buyer as such forfeiture clause could, by its terms, allow broker to retain part of the deposit when broker did not earn a commission; broker must conduct business under name as it appears on license; broker engaged in the unauthorized practice of law in preparing contracts for purchase and sale of real estate which did not contain a clause making it subject to the approval of the parties» attorneys and were not a form recommended by a joint bar / real estate board committee; broker demonstrated untrustworthiness and incompetency in using sales contract which purported to change the terms of the listing agreement to include a higher commission; broker demonstrated untrustworthiness and incompetency in using contracts of sale which were unclear, ambiguous, vague and incomplete; broker failed to amend purchase agreement to reflect amendment to increase deposit amount; broker demonstrated untrustworthiness in back - dating purchase agreements; broker demonstrated untrustworthiness in participating in scheme to have seller hold undisclosed second mortgage and to mislead first mortgagee about the purchaser's financial ability to purchase; broker demonstrated untrustworthiness by claiming unearned commission and filing affidavit of entitlement for unearned commission; DOS fails to establish by substantial evidence that respondent acted as undisclosed dual agent; corporate broker bound by the knowledge acquired by and is responsible for acts committed by its licensees within the actual or apparent scope of their authority; corporate and individual brokers» licenses revoked, no action taken on application for renewal until proof of payment of sum of $ 2,000.00 plus interests for deposits unlawfully retained

Licensees should also be aware that when acting as a limited dual agent in a transaction where the parties to a contract have entered into a limited dual agency agreement, that agreement specifically modifies the duty of confidentiality and provides that licensees have a duty to disclose information to both parties in a transaction, subject to three exceptions as follows:

In order to act as a limited dual agent, a licensee (whether the brokerage in brokerage agency or the designated agent in designated agency) must have the agreement of the two clients as to how the duties owed to those clients are to be modified or made inapplicablIn order to act as a limited dual agent, a licensee (whether the brokerage in brokerage agency or the designated agent in designated agency) must have the agreement of the two clients as to how the duties owed to those clients are to be modified or made inapplicablin brokerage agency or the designated agent in designated agency) must have the agreement of the two clients as to how the duties owed to those clients are to be modified or made inapplicablin designated agency) must have the agreement of the two clients as to how the duties owed to those clients are to be modified or made inapplicable.

Limited dual agency is legal under the Real Estate Services Act in BC, but it is complicated and fraught with risks.

The «AS LIMITED DUAL AGENT» column describes the duties that a brokerage under brokerage agency, or a designated agent under designated agency, would have to both clients if those clients have agreed that the brokerage or the designated agent, as the case may be, are able to act on their behalf as a limited dual agent in relation to the same trDUAL AGENT» column describes the duties that a brokerage under brokerage agency, or a designated agent under designated agency, would have to both clients if those clients have agreed that the brokerage or the designated agent, as the case may be, are able to act on their behalf as a limited dual agent in relation to the same trdual agent in relation to the same trade.

Many states have recognized that eliminating the fiduciary duties of loyalty (requiring a real estate agent to act in the best of interest of their client) and disclosure (requiring a real estate agent to disclose all relevant information to their client) is not in the client's best interest and have outlawed dual agency from real estate brokerage.

The conflicts of limited dual agency continue to exist, however, if the same designated agents are acting on behalf of a seller and a buyer in relation to the same transaction, or acting on behalf of two buyers who are interested in buying the same property.

Yes consumers must sign a disclosure allowing real estate agent to act for them in a dual agency situation.

In California and 24 other states, it's legal for a brokerage to have real estate agents acting as the representation for both the buyer and the seller — what's also known as «dual agency.»