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Agent Representation in California

Did you Know?

In California an agent can (and does quite often) represent both the buyer and seller.

As a listing agent, they do have a fiduciary responsibility to the seller to get the highest possible price with the best terms in the current market.

As a buyer's agent, they must represent the buyer to be sure that all of the contingencies are met, inspections completed, reports submitted and disclosures signed.

Florence is located at Channel Islands Harbor on California's Gold Coast

(just South of Santa Barbara)

Posted by Florence Gadbois on 07/21/2006 01:06 PM

Comments (7)

sales, selling, market

7 Comments on Agent Representation in California

JUL

2006

Dual Agency is illegal in the State of Florida. An Agency relationship creates a fiduciary relationship with your Client. I never understood how you can possibly have a fiduciary relationship with both parties in the same transaction. Can't be done. Dual Agency is misleading to the consumer and should be outlawed in all States. In Florida we are presumed to be "Transaction Brokers" unless stated differently. Our other options are "Single Agent" to one party or "No Brokerage Relationship."

Dual Agency is Legal in the State of Hawaii also.

We will all be transaction brokers here in Florida by 2007.

As long as their is education on both sides, there is nothing wrong with representing both sides.

Florida used to allow disclosed dual agency, but now we must transition to Transaction Brokers if we bring both sides to the transaction.

JUL

2006

The buyer's agent also has an obligation to represent the buyer's best interest. How can you get the buyer a good deal, while also trying to get the seller the highest price?

AUG

2006

Dual agency is completely legal here in California. Obviously a lot of disclosures go with the representation.

4MySales.com

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