Sentences with phrase «dual agent real»

Mississippi's highest court has affirmed a lower court ruling that dual agent real estate breached her fiduciary duty to her buyer clients when she only gave a copy of termite report to the sellers.

Not exact matches

A dual agent is a real estate agent who represents both the buyer and seller in a transaction.

Posted in: Buying a House, Selling a House Tagged: agency realtionship, dual agency, real estate agent

If you're working with a real estate agent to buy a house, you should know about the impact of dual agency.

The court looked at the relationship between a real estate professional serving as a dual agent and his / her clients.

(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.

In Wagner, the Montana Supreme Court addressed the duty owed by a dual agent in a real estate transaction.

I have always found that honesty / full disclosure was the best strategy when explaining the ins and outs of real estate dealings between agents and their clients, but especially during dual agency proceedings.

Theoretically, if a problem arises, the real estate company (acting as dual agent or transaction broker) could try to distance itself from legal liability.

Dual agency certainly disadvantages a buyer or seller or both in a real estate transaction at the expense of their professional agents.

Inexperienced agents could hire a real estate consultand and pay their agent to protect their best interests and that includes NO DUAL AGENCY.

It is my guesstimate that approximately 30 of all real estate transactions are dual agency, so why would an informed buyer be interested in signing a BBA and be willing to pay an agent a fee for a reduced level of service.

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.

The court of appeals determined there was no dual agency because there was no agreement indicating the real estate representative was an agent for the buyers.

A majority of states allow a real estate professional to represent both sides in the transaction as a «dual agent» if the clients consent to the relationship.

Over at ActiveRain, you can see some varied opinions from real estate agents on dual agency.

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

Alabama's highest court has considered whether a real estate broker serving as disclosed dual agent could be liable to buyers for alleged misstatements made to the buyers about the property's presence in a flood plain even when the buyers were given a survey at closing which showed that the property was in the flood plain.

In an unreported decision, a California appellate court reversed an award made in favor of the former property owner because it determined that a commercial real estate broker was not responsible for property sale not closing, despite the fact the broker erroneously valued the property and also acted as an undisclosed dual agent.

An Alaskan court has considered whether a real estate salesperson breached her duty to her client by acting as an undisclosed dual agent.

Therefore, limited dual agency in designated agency occurs only when the same licensee or licensees have been designated as the designated agent to represent two different clients who have conflicting interests; e.g. who become interested in negotiating with respect to the same real estate.

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

For licensees providing trading services, if they are acting either as a buyer's agent or as a limited dual agent, they will likely be receiving remuneration from someone other than their buyer client as a result of providing the real estate services.

Dual agency circumvents a real estate agent's fiduciary duties to be loyal to you.

To ensure that all parties understand dual agency and consent to it, and to remain compliant with the law, real estate agents fully disclose dual agency relationships.

Written consent to dual agency must be obtained by the real estate agent prior to the execution of an offer to purchase a specific property.

It's a shame that having «dual agency» creates a bad name for real estate agents.

More subtle forms of dual agency happen when, for example, a real estate agent represents one client as the listing agent, finds a buyer for the home, and signs a listing agreement with the buyer to help her sell her home, so she can buy the agent's listing.

Overall, dual agency relationships can cause legal issues because real estate agents are bound by fiduciary duties, which require undivided loyalty to clients.

Real estate agents are often incorrectly taught by their supervising brokers that dual agency provides advantages to clients.

In a traditional real estate firm, when one agent represents a seller and another real estate agent at the same company represents a buyer that is purchasing (or offering on) the same home, this conflicted representation is called dual agency.

In order to avoid having to disclose dual agency conflicts and obtain written consent, many states, including Massachusetts and New Hampshire, allow real estate companies to «designate» a real estate agent at the brokerage to represent the seller and a different «designated» real estate agent at the same company to represent a potential homebuyer.

The real estate agent, who was a dual agent, told the buyers the odor was from sea air and could be eliminated by changing things like sheetrock.

Dual Agency is when a real estate agent represents both the buyer and the seller in the same transaction.

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

Roger Yost («Salesperson») was the real estate professional who acted as a disclosed dual agent for both parties in the transaction.

As a result, the duties are limited by contract (e.g. the Limited Dual Agency Agreement created by the British Columbia Real Estate Association) and the sole agent, whether the brokerage or its designated agents as the case may be, become limited dual agents, with their duties being limited as follDual Agency Agreement created by the British Columbia Real Estate Association) and the sole agent, whether the brokerage or its designated agents as the case may be, become limited dual agents, with their duties being limited as folldual agents, with their duties being limited as follows:

As used in this section, the term «dual agent» means a broker who represents as a fiduciary both the prospective buyer and the prospective seller in a real estate transaction.

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.

Dual agency is when a listing agent / brokerage represents both the buyer and seller in the same real estate transaction.

(In Ohio, there is a hybrid dual agency called «split» agency, whereby the buyer and seller are represented by two different agents from the same real estate brokerage.)

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.

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.

In order to avoid having to disclose dual agency conflicts and obtain written consent, many states, including Massachusetts and New Hampshire, allow real estate companies to «designate» a real estate agent at the brokerage to represent the seller and a different real estate agent at the same company to represent a potential homebuyer in the same transaction.

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.

Dual agency occurs when both agents are from the same real estate brokerage which allows the brokerage to collect (or «hog») a double commission.

The sad thing is that dual agency is a reduction of the level of service expected by the clients and yet real estate agents get paid their full commission.

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

I would guess that 3 + out of 10 real estate transactions involve a conflict of interest by a dual agent or designated agent or whatever other name the industry chooses to use.