Sentences with phrase «engage in a dual agency»

Agents who ONLY represent buyers and never engage in dual agency.

«Division 4 — Dual Agency Restriction on dual agency in trading services 5 - 16 (1) A brokerage must not engage in dual agency.

Dual agency must typically be disclosed, and it's up to buyers and sellers whether they want to engage in a dual agency transaction.

When a real estate broker engages in dual agency they may not work to the advantage or the detriment of the buyer or seller.

Consider the fact that attorneys who are trained in conflict management can not legally engage in dual agency in most circumstances.

You shall NOT engage in a dual agency or designated agency (also called multiple representation arrangements)-- both are conflictive relationships that are harmful to the client and obstruct the purpose of this contract.

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.

5 - 17 (1) Despite section 5 - 16, a brokerage may engage in dual agency in respect of a trade in real estate if the real estate is in a remote location that is under - served by licensees and where it is impracticable for the parties to be provided trading services by different licensees.

Brokers that engage in dual agency collect so much more in commissions, that they don't mind if the house stays on the market longer and sells for less.

Not exact matches

Because the FTC has clearly stated that it will not enforce the GLB privacy provisions against persons engaged in providing insurance, health plans will not be subject to dual federal agency jurisdiction for information that is both nonpublic personal information and protected health information.

Standard of Practice 1 - 5 defines the conditions under which a REALTOR ® may engage in disclosed 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.

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.

For example, if a brokerage firm engages in conduct that increases the frequency of dual agency, the liability may exist for the undisclosed dual agency as well as self - dealing for intentionally manipulating the clients» risk in order to profit from a double commission.

In brokerage agency, limited dual agency can occur when the same licensee engaged by the brokerage represents the buyer and seller, or where different licensees engaged by the same brokerage represent the buyer and the seller.

Designated agency allows two clients who have engaged the same brokerage to have independent representation by their respective designated agents, eliminating the occurrence of «in - house» limited dual agency where the interests of those clients are in conflict, e.g. they wish to negotiate in relation to the same property.

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

The Olsens also argued that Vail Associates breached its fiduciary duty to them by engaging in undisclosed dual agency.

Finding that Vail Associates had not represented both the Olsen children and Lindholm in the same transaction, the court affirmed the lower courts» findings that the brokerage did not engage in undisclosed dual agency.

With proper practice, including not sharing the confidential information of their respective clients, designated agents engaged by the same brokerage are able to avoid many of the conflicts that can arise under limited dual agency with respect to these types of «in - house» transactions.