Twice a year, one of the great things about working at Lyon Real Estate is the legal updates we receive. Spring and Fall. This is a 3-hour or so in-person informational session generally held at our Sacramento Board of Realtors. Not only do the lawyers cover new laws in an entertaining manner, but they also discuss recent court cases. This is where we learn about the types of things that the parties -- er, buyers, because it's almost always buyers -- sue over.
Last year we learned the handy catch phrase, you got it, you give it.
This year we learned two key points: verification and learn.
They also discussed what happens when a large brokerage represents more than one seller or more than one buyer in a transaction. It's not an area we give a lot of thought to, especially when we don't even know the agent, perhaps, in question. But it can affect our clients. It is still dual agency.
This situation made me question whether we should provide what could be considered detrimental information not available in MLS (closed or not) to an appraiser who very well might be appraising a property owned by another Lyon client. The lawyer agreed with me, btw.