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Answers (13)
- Mack McCoy
- Contributions:1105
"Let them search back posts!"
Fact is, Tiffany, as you know - there really aren't very many "new" questions in real estate. This has been a popular question in Washington State since Mariah Carey first went platinum.
It's possible that YokoKen is the last person in Washington who doesn't know the answer, but not very likely.
Fact is, Tiffany, as you know - there really aren't very many "new" questions in real estate. This has been a popular question in Washington State since Mariah Carey first went platinum.
It's possible that YokoKen is the last person in Washington who doesn't know the answer, but not very likely.
- Tiffany Bond, "TiffanyBond"
- Contributions:3010
If that is the case Mack then they can easily search back posts. As professionals, we should be responding to questions that are recent or starting a new thread. I believe the board drops a little credibility when we have agents playing go fish for questions to answer. There are lots of interesting and relevant questions posted every day.
- Mack McCoy
- Contributions:1105
Tiffany, while that's certainly true, other readers may be attracted by the question and are probably quite interested in the answers.
- Tiffany Bond, "TiffanyBond"
- Contributions:3010
I'm pretty sure that say by June - this poster had gotten what information they were going to use.
- Mack McCoy
- Contributions:1105
No. They need to disclose that their Broker is a dual agent. "They" are not dual agents - your agent represents you, the other agent represents the Seller.
- Jeff Rainwater, "jrainwater"
- Contributions:189
To answer the original question, (in washington state) neither the seller's agent nor the buyer's agent are duel agents in that situation. They each represent their respective parties' best interests and do not need to disclose anything for that. However, since they both work under the same broker, that broker is a duel agent, which is perfectly legal also, but that broker must remain neutral in the transaction and cannot recommend anything to either agent that would be considered to be in favor of either client in particular and can only take actions or make suggestions for the good of both parties and the transaction as a whole. The broker's dual agency status does have to be disclosed to both parties. I hope that helps.
- Sandro - NW Real Estate, "NW Real Estate Agent"
- Contributions:86
In Washington State, dual agency is permitted.
Two scenarios here:
1.- An agent representing both a buyer and a seller is a dual agent.
2.- A broker with two agents; one agent represents the seller, the other agent represents a buyer then the broker is the dual agent.
Another example:
If you go to an open house and you do not have an agent, and you want to write an offer on the spot. The agent (assuming is the seller's agent) will represent the seller not you. And by law should disclose the agency relationship to you. In this case, the agent is not obligated to represent your best interest. But will proceed to write the offer.
Hope these examples help,
Sandro
NWRealEstateAgent.com
Two scenarios here:
1.- An agent representing both a buyer and a seller is a dual agent.
2.- A broker with two agents; one agent represents the seller, the other agent represents a buyer then the broker is the dual agent.
Another example:
If you go to an open house and you do not have an agent, and you want to write an offer on the spot. The agent (assuming is the seller's agent) will represent the seller not you. And by law should disclose the agency relationship to you. In this case, the agent is not obligated to represent your best interest. But will proceed to write the offer.
Hope these examples help,
Sandro
NWRealEstateAgent.com
- Rusty Fadgen, "rusdawg400"
- Contributions:29
In Florida this is acceptable as long as niether agent is acting in a "single agent" capacity. If the agent is acting in the "single agent" capacity, then the agent must present the principal(buyer or seller) with a disclosure that changes the relationship to "Transaction Broker".
- Brent Lumley, "LumleyTeam"
- Contributions:245
Yes. Ask them to provide the law of agency pamphlet for you and explain how having a transaction under the same broker will affect you.Remember each agent is committed to representing there own client.
Brent
Brent
- Sam DeBord, "SeattleHome.com"
- Contributions:3472
This is also called "split agency", and Charlene is correct, the broker is a dual agent. The individual agents represent the separate interests of their clients.
There should be an agency disclosure in the contract if you decide to purchase the home.
There should be an agency disclosure in the contract if you decide to purchase the home.
- Linda Strasberg, "L Strasberg"
- Contributions:2314
If I'm not mistaken there are certain areas around the country where dual agency is not permitted any longer due to potential conflicts of interest. When it is permitted, it must be fully disclosed.
- Charlene Hanson, "Charlene Hanson"
- Contributions:76
In this case, the broker they work for is the dual agent, and yes, it would need to be disclosed in the purchase&sale agreement (PSA). Read over the dual agency (section 6) in the Law of Agency pamphlet your agent probably gave you when they started working with you. Also, ask your agent to go over the standard PSA/Agency Disclosure section and explain it all to you.
Good luck in your house hunting!
.
Good luck in your house hunting!
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- Kerry Harvell, "Kerry Harvell"
- Contributions:19
Yes, if they are working for the same broker.
If seller and buyer agents work out of same office are they dual agents?
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