Sentences with phrase «dual agent does»

A dual agent does, however, still owe a duty of confidentiality of material information and accounting for funds.

«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.

Having renounced advocacy, what can a disclosed dual agent do for either party in a transaction besides chauffeur, run errands, and carry messages?

Not exact matches

5 % if any two agents are part of the transaction; 4 % if I am the only agent in the transaction (in my state we do «limited representation» in lieu of dual agency), and 3 % if the seller brings me a buyer to close.

If you do use a dual agent, make sure it's someone you trust completely.

To effectively execute the riskier role of dual agent and discharge your professional fiduciary responsibilities correctly, you must do more work, provide more disclosure, carefully and cautiously communicate and mediate between and expertly advise more client parties and create and manage more documents than if a co-operating brokerage is involved.

Certainly one agent can dual represent and be both the list agent and selling agent (buyers agent) and each side of the transaction can hire or have a transactional coordinator (paper organizer and paper pusher) of which, does not need to be licensed but can be.

The court found that the agent did not review the dual agency provision with the seller and had not informed her in writing and prior to the offer being presented, as the commission agreement specifically required her to do.

Did the dual role of the agent unconscionably lead to haste to conclude a transaction without reasonable inquiries to check out what appears to be some fault demonstrated by the sloping floors?

(2) The designation of one or more licensees as a designated agent does not constitute dual agency under this section unless the licensee designated as the designated agent represents the parties referred to in paragraph (a), (b), (c) or (d) of the definition of «dual agency» as clients in respect of a trade in real estate.

Designated agency does not constitute dual agency as long as the designated agent (s) represents only one party to the transaction.»

Ultimately, the dual agent Realtor will know deep down in his / her conscience that one side or the other could have done better had he / she been working with a high quality dedicated representative Realtor.

Undisclosed dual agency is a particular problem in states that do not have buyer's agents and, in states like New York, where buyer's agency is a relatively new concept.

The agent did not explain his dual role and held himself out as an expert, and the plaintiff trusted the agent.

As an agent I have done dual agency.

In order to do their jobs, RECO must practise dual agency... they represent both sides... the agents / registrants AND the public.

Fortunately for the REALTOR few buyers will object to being represented in a dual agency situation and lucky for the agents that buyers do not clearly understand their rights.

The brokerage would not start out, as it does today, as the sole agent for one of the parties, with every licensee engaged by the brokerage taking on the same status, and then have to strip away many of its agency obligations (and simultaneously stop being able to provide the agency services it initially offered) to become an impartial dual agent in an «in - house» transaction.

Dual Agency - you didn't tell us that the agents in your office could not get us the highest price Competitors - you told us you were better than the other agents and would do a better job.

Because doing much more at that point would have raised the risk of me becoming a dual agent, it was important to get this bidder's agent on board, which we did.

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.

Dual agent representative did not make false statement about flood zone designation or erosion on the property.

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.»

Many real estate agents don't know what they are able to do and not do in a dual agency relationship.

Dual agency relationships don't carry with them all of the traditional fiduciary duties to the clients; instead, dual agents owe limited fiduciary dutDual agency relationships don't carry with them all of the traditional fiduciary duties to the clients; instead, dual agents owe limited fiduciary dutdual agents owe limited fiduciary duties.

The dual agent can not counsel the client on price, negotiate inspection issues or do pretty much anything else that would justify the commission the client pays.

Agents doing dual agency transactions should take special care to make clear all existing relationships that could be perceived as conflicts of interest.

I didn't understand the full ramifications to us of our real estate agent being a dual agent.

But as Hunt and many other agents see it, a dual agent, privy to what's motivating each side, is in a position to more swiftly and efficiently get a deal done

Obviously, agents who routinely work to effect fair and ethical dealings and avoid being in the dual agent role are very likely to also be representng their clients fairly and ethically when they DO happen to end up in a dual agent situation.

Dual agency is where the agent must suddenly and with little warning abandon their clients and where they are prohibited from advising their clients on negotiating price, terms or on any other matter that could be construed as a detriment to either party — in other words, the agent can't really do anything.

86 DOS 93 Matter of DOS v. Winograd - undisclosed dual agent for tenant and subtenant; failure to provide copy of sublease violates 19 NYCRR § 175.1; no suspension of broker who has no knowledge at time of event or retention of proceeds, but liability for misconduct; refund unearned commission

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

I have sold homes when I was dual agent but always gave disclosures and did inspections.

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.

If, for example, you do not want your agent to be a dual agent (representing both you and the seller) you may find another agent to represent you exclusively, or have one appointed to represent you.

Until you have your client's consent to act as a limited dual agent, you should not do anything for the unrepresented buyer that will give the impression that you are acting as their agent — such as giving advice.

Despite the fact that a seller does not have an obligation at law to disclose the existence of a stigma that affects their property, the seller has, when consenting to the listing brokerage acting as a limited dual agent, agreed that the brokerage will have a duty of disclosure to the buyer, excluding

Only an exclusive buyer agent, who works for a real estate company that doesn't list properties for sale or represent sellers, can guarantee that they will never practice dual agency or designated buyer agency.

103 DOS 95 Matter of DOS v. Lana - fiduciary duty; vicarious liability; dual agency; breach of fiduciary duty where seller's agent advised buyer can purchase property for less than asking price; broker not liable without actual knowledge of misconduct or after notice retains proceeds therefrom; mutually dependent transaction did not arise creating improper double agency; amend pleadings to conform to proof; two month suspension results

Carolyne, I am very pleased to see that you as a professional Realtor do not believe in representing your clients a DUAL AGENT.

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.

Presumably those that ramble on about Dual Agency feel that consumers would be better served by disempowering them from the ability to discharge their agent or not, in favour of making it a mandatory requirement — whereas those that wanted to keep the same agent, regardless of Agency, could only do so by avoiding certain properties!

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.

I would add: when I act for the Buyer I don't do it as a dual agent....

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.

If you have signed a dual agency consent agreement prior to negotiations to purchase a property, you have compromised your agent's ability to do anything that would put the seller listed with the same company to any disadvantage.

Not all states allow dual agency, and even in the ones where it's OK (provided it's disclosed to all parties), many agents don't go there because it puts them in a sticky position of having to work for both the seller and buyer.

Since the final rule does not preclude creditors from coordinating with settlement agents, and mortgage transactions and real estate transactions are often linked since the latter provides the collateral for the former, the frequency of dual closings is unlikely to change.