Sentences with phrase «nondisclosed dual agent»

If you use the same agent, they probably will have to give you a dual agent form, which advises you of that fact, and you recognize they work for two parties with different goals.

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

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

You'll also want to avoid a dual agent.

If it's a dual agent, so be it.

State laws vary, but most states will allow a listing agent to become a dual agent, says Walter Molony, a spokesman for the NAR.

The dual agent would be prohibited from negotiating the purchase price or terms on the buyer's behalf, says Miller.

Buyers who meet listing agents at open houses and decide to work with them should know that this agent will probably take on the role of «dual agent,» representing the seller and the buyer if state laws permit it.

The trial court awarded $ 91,635 to buyers, but found nothing was owed after offsetting the $ 275,000 settlement with dual agent.

1 Apr. 21, 2016)(unpublished), buyers of seaside property sued seller and a dual broker agent for breach of contract, intentional misrepresentation, negligent misrepresentation, and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.

Dual agent settled for $ 275,000, which was confirmed as a good faith settlement.

Some car insurance agents represent one company with others work as dual agents.

Especially if it's a property that they're listing, they become a dual agent.

If you want to go forward with making an offer on that property, that designated buyer agent is now becoming what's called the «dual agent,» they're representing both the seller and the buyer.

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.

As dual agents, you both represent the buyer and the seller.

The court found that state case law supported this conclusion that a disclosed dual agent is not in a fiduciary relationship with his / her clients.

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

Unless the state specifies otherwise, a dual agent can legally contact either client, as the buyer and the seller are the clients of either agent.

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.

Dual agents owe limited fiduciary consent of both parties.

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

The prospective purchaser and seller entered a purchase agreement, with the licensee acting as a dual agent.

Dual agent: A state - licensed individual who represents the seller and the buyer in a single transaction.

«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.

In this decision, the California Supreme Court considered the duty owed by a listing broker to the buyer when the broker is acting as a dual agent.

In the 1990s states began adopting legislation that established the designated and disclosed dual agency models and outlined the duties of practitioners based on the role they were assuming, such as seller's agent, buyer's agent, dual agent, or transaction facilitator.

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 licensee disclosed that he had previously represented the seller in buying that property, and he would act as dual agent in the transaction.

By sending a letter with an evaluation to Mr Comfree you may have crossed the line and acted as an undisclosed dual agent.

The appellate court concluded that the potential purchaser presented some evidence showing that the licensee may not have acted in the would - be purchaser's best interest as dual agent.

My greatest concern would be for the liability of the dual agent (in the same office as the listing agent) deemed to have the knowledge and, in dual agency jurisdictions, unable to act under the umbrella of a transaction brokerage as a designated agent.

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

The Montana Association of REALTORS ® filed an amicus curiae brief arguing that because the state's law permits licensees to act as dual agents of the buyer and the seller and «act solely in the best interests» of both parties, a buyer's representative should be able to represent two bidders in the same manner.

In the transaction, the mother and daughter licensees acted as dual agents for both parties.

Eventually, no matter how hard one tries to be absolutely honest and fair to each side, a situation will arise wherein the dual agent Realtor will have to put pen to paper, knowing full well that one side or the other had more to give or concede.

Rather, NAR has advocated clarity in the states» requirements for «informed consent» to assure that those brokers electing to serve as dual agents know how to comply with the law.

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

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.

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.

Review your brokerage company's policy to see if dual agency is permitted and exactly what actions you as a dual agent may not perform for each party.

In such relationships, dual agents owe limited fiduciary duties to both buyer and seller clients.

But they can get too close to the buyer and become a de-facto dual agent.

Further, it is not possible for a dual agent to know whether or not the buyer, if they were represented by someone else would not have negotiated a better deal.

Next, she must determine whether Sam Seller has agreed to let her act as a dual agent in the transaction and obtain his full, written consent to Rita's new role.

Licensees who call themselves buyer's agents but act like subagents or dual agents aren't representing the best interest of their principal, only their own best interest.

The dual agent is using «asking prices» on active listings for a reason - they are probably higher prices than what those will eventually sell at...

As a dual agent the buyer and seller are no longer your clients.

Cynthia Curley («Buyer») made an offer to purchase the property, and Adams sent the Buyer a dual agency form asking her to acknowledge that Adams would serve as a dual agent in the transaction.

Rita I am wondering if it is a wise idea to attend the home inspections if you are acting as a dual agent or even in single agency.