Sentences with phrase «dual agent for the seller»

The seller's agent became a dual agent for the seller and the new buyers in their transaction.

Not exact matches

1 Apr. 21, 2016)(unpublished), buyers of seaside property sued seller and a dual broker agent for breach of contract, intentional misrepresentation, negligent misrepresentation, and rescission after dual agent told buyers at a pre-sale stage that foul odors in the house were attributable to «sea air,» when instead they emanated from a post-sale discovery of a buried oil and septic tank on the property.

In one case that settled out of court in favor of the plaintiffs, a buyer and seller both sued an experienced dual agent because he failed to recommend having a specific completion date for repairs in the repair agreement.

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 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.

DUAL AGENCY SITUATION — What if you are the listing agent in a dual agency situation and your sellers asks you for some feedbDUAL AGENCY SITUATION — What if you are the listing agent in a dual agency situation and your sellers asks you for some feedbdual agency situation and your sellers asks you for some feedback.

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.

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.

Not Telling Clients About Dual Agency Perhaps the most disturbing thing about dual agency is that many times, the clients will not be aware that their agent is working for both the buyer and the selDual Agency Perhaps the most disturbing thing about dual agency is that many times, the clients will not be aware that their agent is working for both the buyer and the seldual agency is that many times, the clients will not be aware that their agent is working for both the buyer and the seller.

In other words, licensees acting for a buyer or as a limited dual agent will be receiving remuneration from the seller and not from their buyer client.

Lack of dual agency leads agents to share their inventory more readily and promotes professional teamwork — not to mention much better representation for the seller and buyer.

Both Horiike's agent and the listing agent worked for Coldwell Banker, so the brokerage was the dual agent of the buyer and seller, as confirmed in the disclosure forms Horiike signed.

For example, a dual agent can not use her tough negotiating skills to get the highest price for a seller and the lowest price for a buyer — it is impossibFor example, a dual agent can not use her tough negotiating skills to get the highest price for a seller and the lowest price for a buyer — it is impossibfor a seller and the lowest price for a buyer — it is impossibfor a buyer — it is impossible.

As a dual agent, the licensee works for both the seller / landlord and the buyer / tenant.

1] § 17 - 530 (d)(1)(v) Establishes that «An intra-company agent representing the seller or buyer may provide the same services to the client as an exclusive agent for the sell or buyer, including advising the clients to price and negotiations strategy, provided that the intra-company agent has made the appropriate disclosure to the client and the client has consented, as required by this section, to dual agency representation.»

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

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.

Others only allow a modified version of dual agency, allowing it for managing brokers, but not the actual agent dealing with the buyer and seller.

In cases where a licensee is acting as a limited dual agent in a situation other than for a buyer and a seller, the limitations with respect to disclosure by the licensee will change.

If they purchase that house, the listing agent obviously represents the home seller, although the agent can also act as a «dual agent» for both buyer and seller.

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.

When acting as a limited dual agent for a buyer and a seller, the licensee's duty of full disclosure is modified to allow the licensee to keep information in three areas confidential:

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 the seller has agreed that you can act as a limited dual agent for both them and the buyers, you must take a neutral position.

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.

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.

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

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.

For three decades, California real estate agents involved in residential real property transactions, including leasehold transactions with lease terms exceeding one year, have been required to disclose whether they are acting as a buyer / tenant agent exclusively, a seller / landlord agent exclusively, or as a dual agent representing both sides of a transaction.

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.»

A dual agent in California was sued by the seller because she told the buyer to ask for a carpet allowance from the seller.