On the same day HUD announced its ban
on dual agency, the National Association of Realtors («NAR») wrote a letter to HUD and apparently «immediately began talks with HUD officials on the proposed change.»
Council's position is that these terms should be interpreted narrowly and strictly, in keeping with the Superintendent's goal of imposing broad restrictions
on dual agency.
HUD postpones the ban
on the dual agency in FHA short sales (click here).
The initial January rules also placed a narrow exemption
on the dual agency ban for remote areas underserved by licensees and where an alternative to dual agency would be impracticable.
Over at ActiveRain, you can see some varied opinions from real estate agents
on dual agency.
A buyer who relies on the seller's agent or
on dual agency does not receive the same degree of legal protection as that afforded by an agent acting solely on behalf of the buyer.»
The appellate court affirmed summary judgment
on the dual agency issue and the Act claim.
While regulation, by its nature, limits consumer choice, the restriction
on dual agency is a reasonable limitation in order to ensure consumers are protected.
Further, the results of the consultation do not demonstrate that the public is concerned with the limitations the rule would place on consumer choice as the majority of public respondents were in favour of the restriction
on dual agency.»
Having agreed with you and stated my own position, it is also my position that most agents SHOULD NOT TAKE
ON DUAL AGENCY... and people need not to forget that dual agency is not «just» selling your own listing.
«Division 4 — Dual Agency Restriction
on dual agency in trading services 5 - 16 (1) A brokerage must not engage in dual agency.
Warning to Royal Lepage Real Estate Services Brokerage and your 22 Branch Offices
on any Dual Agency Deal you have completed since 2000.
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 transaction.
Not exact matches
In this final column in the series
on the controversial subject of real estate fees, allow me to continue addressing
dual agency, but from...
Aggregate child - level assessment data means the data collected by an
agency on the status and progress of the children it serves that have been combined to provide summary information about groups of children enrolled in specific classrooms, centers, home - based or other options, groups or settings, or other groups of children such as
dual language learners, or to provide summary information by specific domains of development.
Dual or concurrent enrollment programs are partnerships between local educational
agencies (LEAs) and Institutions of Higher Education (IHEs) that allow high school students to enroll in college courses and earn transferable college credit, setting them
on an accelerated path to postsecondary success.
Floating style — Malcolm Bobbitt explores the history of Citroën's unique suspension system and its application in the ground - breaking Traction Avant and DS models / Auto - biography: Karl Ludvigsen — Matthew Bell visits the noted motoring historian, writer and consultant at his home in Suffolk and learns about his distinguished career / The Loewy Studebakers — Stephen Bayley looks at the extraordinary Studebaker coupés of the mid-1950s and tells the story of their aromatic stylist, Raymond Loewy / David: Spain's forgotten cyclecar — With the help of rare archive material, Francisco Carrión Cardenas unearths the history of Spain's most successful cyclecar maker / Vintage Motoring — Detective
Agency John Warburton examines the contents of R L Appleton's photograph album, covering his motoring exploits in the years 1930 to ’33 / Back
on the Road — Michael Ware reports
on a recently completed 1937 BMW 319/28 special built for the
dual purposes of competition and long - distance touring
The Honor 6X is being teased for a release
on October 18 and even with the lack of confirmed information from regulatory
agency TENAA, some industrious Chinese social peeps have obtained images of what's supposedly the phone and it has a vertically - oriented
dual - camera setup
on the back.
While it is true that «
dual agency» was outlawed many years ago, agents had moved to either a «limited
dual agency» or offering «no
agency» to buyers who came knocking
on the listing agent's door.
Instead, it encouraged states to give clear guidance
on disclosed
dual agency.
The Seller instructs the LISTING Brokerage to solicit any and all offers
on the subject property, from any Purchaser represented under a duly authorized BUYER REPRESENTATION Agreement (EXCLUSIVE OF
DUAL AGENCY) and the Seller further hereby Agrees to include in the final negotiated selling price an amount equal to the Buyers obligations contained in such Buyer Representation Agreement.»
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.
NAR members recently received word that the U.S. Department of Housing & Urban Development would be implementing a new policy
on Oct. 1, 2013, that would prevent
dual agency agreements in FHA pre-foreclosure transactions.
Try to get a grip
on at least one of the three types of
agency, preferably the one that is violated the most —
dual agency.
Buyer Agents will for the first time be able to explain
Dual Agency and Single
Agency along with a recommendation for any Buyer to contact a lawyer and get a legal opinion
on whether
Dual Agency is in the Buyer's Best interests.
On Friday, July 14, 2014, the US Department of Housing and Urban Development (HUD) issued Mortgagee Letter 2014 - 15 allowing
dual agency agreements in FHA pre-foreclosure transactions.
CREA apparently doesn't understand
agency, in particular
dual agency... and merciful heaven (don't even go there) how about Ms.. A's position
on same?
This case turns more
on the patent nature of the defects,
on the agent electing to represent both parties by Limited
Dual Agency, and
on the agent's failure to ensure her buyer client was adequately protected by having a building inspection clause in the contract.
EVEN WORKING UNDER
DUAL AGENCY CAN HAVE ADVANTAGES FOR BUYERS OR SELLERS DEPENDING
ON THE SITUATION.
She must also disclose the limitations the
dual agency will place
on her ability to assist Barb and Sam.
Dual agency is a much bigger issue than agents worrying about a few brokers listing fsbo properties
on the MLS.
How can buyers or sellers develop negotiating strategies that might work in their best interests if they are in a
dual agency situation and can not rely
on their agents professional negotiating skills.
He can elect to be either a client or a customer (duty of care), but if you are going to show him one of your own listings, or one of your company listings, you need to be cautious that he understands the full situation and has signed off
on the document called Working With a REALTOR, and that if he wishes to proceed in client status, you will need to let your seller know that, with his permission, you will be dealing in
dual agency, having explained this to the caller as well.
Someone needs to inform the system that automatically feeds
on itself, consuming its own young, how to achieve the ultimate goal of no
dual agency, as you and others have repeatedly suggested.
I NEVER discuss motivation of any buyer or seller in ANY transaction anyway, I NEVER discuss what my buyer is willing to accept
on ANY offer either,
dual agency or not.
In any
dual agency situation I would insist
on a release from the BAA contract.
And, Dave — why
on earth would
dual agency opt for charging less?
Mr. Silverstein went
on to say that, «Claims are most frequently reported by Listing Brokers, and that claims involving
dual agency have the highest average claims payments and reserves.»
Your correct reasoning also sheds light
on the reality that most Realtors can not be trusted to equitably / ethically conduct
dual agency, because
on any given day most Realtors are failures - in - waiting for whom the necessary qualities needed for success as laid bare within your editorial do not exist, but most important... they desperately need that double commission.
Also very few agents get overly involved in explaining «
dual agency» to their buyers and generally have the buyers agree to their being represented in a
dual agency situation
on signing a BRA contract rather than at the time of the conflict..
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.
A big portion of misrepresentation claims come out of
dual agency transactions, says Drayna, who makes this claim based
on his experience rather than any hard statistics.
British Columbia has become the first province to ban
dual agency, with new rules set to come into force
on March 15, 2018.
In this final column in the series
on the controversial subject of real estate fees, allow me to continue addressing
dual agency, but from a slightly different slant.
Here is my submission to that end regarding
dual agency transactions: Another Realtor of local stellar repute (not from the chosen Realtor's brokerage but whom the buyer's and seller's mutual Realtor would recommend to his / her respective buyer / seller clients for their approval) would oversee / facilitate the negotiation process once an offer — or offers — has / have been announced as being
on the table.
In this final column in the series
on the controversial subject of real estate fees, allow me to continue addressing
dual agency, but from...
This video looks at NAR's Environmental Summit, progress
on flood insurance improvements, and an NAR win
on FHA
dual -
agency policy
on short sales.
British Columbia has become the first province to ban
dual agency, with new rules set to come into force
on March 15, 2018 which will «significantly change the way that real estate services are provided.»
Two of the key recommendations: that regulators adopt Designated
Agency and Transaction Brokerage (see Definitions on page 8) to help overcome problems with the existing dual agency relatio
Agency and Transaction Brokerage (see Definitions
on page 8) to help overcome problems with the existing
dual agency relatio
agency relationship.
Much of the discussion has focused
on the two new business models — Designated
Agency and Transaction Brokerage — the CRG's ATF proposed as «best practices» solutions to concerns about dual agency i
Agency and Transaction Brokerage — the CRG's ATF proposed as «best practices» solutions to concerns about
dual agency i
agency issues.