Agents
doing dual agency transactions should take special care to make clear all existing relationships that could be perceived as conflicts of interest.
For these reasons, lenders should either refuse to
fund dual agency transactions or provide extra scrutiny into the viability of transactions that involve dual agency.
Here is my submission to that end
regarding dual agency transactions: Another Realtor of local stellar repute (not from the chosen Realtor's brokerage but whom the buyer's and seller's mutual Realtor would recommend to his / her respective buyer / seller clients for their approval) would oversee / facilitate the negotiation process once an offer — or offers — has / have been announced as being on the table.
By forgoing potentially millions of eyeballs on two leading real estate portals, one could argue that Edina is betting the «double dip» they will get
from dual agency transactions will more than make up for the loss in visibility — a loss that could increase market time of listings and loss of clients who DO want wider distribution of their home.
One of the most important remedies often available to victims of undisclosed dual agency is rescission of the contract —
because dual agency transactions rarely involve an arms - length transaction.
A big portion of misrepresentation claims come out
of dual agency transactions, says Drayna, who makes this claim based on his experience rather than any hard statistics.
They noted that
dual agency transactions are permitted in every state except Colorado, provided that it is disclosed in writing to all parties, and that the parties agree to it.
Dual agency must typically be disclosed, and it's up to buyers and sellers whether they want to engage in
a dual agency transaction.
Real estate brokers and firms that abuse supervisory duties in order to increase the frequency of
dual agency transactions.
The financial incentives are so great for brokers to engage in dual agency that it should be presumed that market manipulation occurs in
every dual agency transaction.
The financial incentives are so great for brokers to engage in a dual agency that it should be presumed that market manipulation occurs in
every dual agency transaction.
The court affirmed the appellate court's opinion by holding that, pursuant to that statute, each of the salespeople involved in
a dual agency transaction owe fiduciary duties to both the buyer and the seller.
There has been pressure in the United States, resulting in insurers declining to provide errors and commissions insurance to brokerages, or imposing premium surcharges based on
the dual agency transactions in a brokerage.»
«Zillow is enabling premier agent advertisers to increase the number of transactions within which they represent both the buyer and the seller, known as
a dual agency transaction,» according to Morgan Stanley's AlphaWise study published today.