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.
Not exact matches
Dual - Agency Dilemmas Brokers using tenant - matching technology should be mindful of their state's laws and brokerage policies on dual agency — the ethically murky situation that occurs when the broker represents both the landlord and the tenant in the same lease transact
Dual -
Agency Dilemmas Brokers using tenant - matching technology should be mindful of their state's laws and brokerage policies on dual agency — the ethically murky situation that occurs when the broker represents both the landlord and the tenant in the same lease transa
Agency Dilemmas Brokers using tenant - matching technology should be mindful of their state's laws and brokerage policies on
dual agency — the ethically murky situation that occurs when the broker represents both the landlord and the tenant in the same lease transact
dual agency — the ethically murky situation that occurs when the broker represents both the landlord and the tenant in the same lease transa
agency — the ethically murky situation that
occurs when the broker represents both the landlord and the tenant
in the same lease transaction.
But if
dual agency happens to
occur with a qualified Realtor's, and both parties (the clients) are amenable to it, my experience is that the Buyer and Seller are likely to be better pleased than
in a typical transaction (and I have dozens of transactions to prove this, with no negative ones to disprove it).
As I have stated previously... the first
dual agency occurs at the top, then reappears
in each of the layers of the system.
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.
An important distinction between limited
dual agency that arises
in brokerage
agency as compared to limited
dual agency that arises
in designated
agency is that under brokerage
agency dual agency occurs in «
in - house» transactions involving more than one licensee.
The Superintendent has provided a narrow exemption to the rule prohibiting
dual agency, for rare situations where the trade
occurs in remote locations that are under - served by licensees and where an alternative to
dual agency would be impracticable.
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.
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
dual agency occurs you will be asked to consent to that
in writing.