agency: Why Dual Agency is a Bad Idea
- 07/10/08 08:14 AM
Dual agency is when the broker/agent represents both the buyer and the seller in the same transaction. In California, it is permissible only if both principals are notified of the dual agency and both consent to it. The best way to prove consent is to have them sign the Agency Disclosure. However, many pitfalls are involved in acting as a dual agent. More often than not, in trying to represent the interests of both clients, one ends up representing neither very well. It’s a quick way to lose the trust of both clients. Then one has no hope for referral … (0 comments)
A person in a position of trust and confidence, as between principal and broker; broker as fiduciary owes certain loyalty which cannot be breached under the duties of agency.
Agency, as defined by the California Dept. of Real Estate
The relationship between principal and the principal’s agent which arises out of a contract, either express or implied, written or oral, wherein the agent is employed by the principal to do certain acts dealing with a third party.
Fiduciary Duty, as defined by the California … (1 comments)
Los Gatos CA R/E (zip 95032); I sell condos, luxury homes, horse property, subdivisions, new homes; I specialize in first-time homebuyers and sophisticated investors.
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