A listing agent who also represents the buyer is a dual agent. Dual agents cannot operate in a fiduciary relationship with either party and must treat both sellers and buyers equally. They cannot share confidential information and they cannot give confidential advice. (Caution)
What Is a Dual Agency And Where Does a Dual Agent Fit In RealEstateLaywers.com
MO Gov Article, Feb 03, 2005
1. A licensee may act as a dual agent only with the consent of all parties to the transaction. Consent shall be presumed by a written agreement pursuant to section 339.780.
2. A dual agent shall be a limited agent for both the seller and buyer or the landlord and tenant and shall have the duties and obligations required by sections 339.730 and 339.740 unless otherwise provided for in this section.
3. Except as provided in subsections 4 and 5 of this section, a dual agent may disclose any information to one client that the licensee gains from the other client if the information is material to the transaction unless it is confidential information as defined in section 339.710.
4. The following information shall not be disclosed by a dual agent without the consent of the client to whom the information pertains:
5. That a buyer or tenant is willing to pay more than the purchase price or lease rate offered for the property;
6. That a seller or landlord is willing to accept less than the asking price or lease rate for the property;
7. What the motivating factors are for any client buying, selling, or leasing the property;
8. That a client will agree to financing terms other than those offered; and
9. The terms of any prior offers or counter offers made by any party.
10. A dual agent shall not disclose to one client any confidential information about the other client unless the disclosure is required by statute, rule, or regulation or failure to disclose the information would constitute a misrepresentation or unless disclosure is necessary to defend the affiliated licensee against an action of wrongful conduct in an administrative or judicial proceeding or before a professional committee. No cause of action for any person shall arise against a dual agent for making any required or permitted disclosure. A dual agent does not terminate the dual agency relationship by making any required or permitted disclosure.
11. In a dual agency relationship there shall be no imputation of knowledge or information between the client and the dual agent or among persons within an entity engaged as a dual agent.
Buyer's Agent a better choice!
The Listing Agent, unless specifically disclosed otherwise, represents the seller in any transaction for the sale of a home. It is that Agent's fiduciary duty to protect the seller's position at all times. No matter what they tell you their loyalty will lie with their selling clients. That is why you should want an agent with experience to work for you to represent YOUR interest as a buyers agent when buying a home.
|
|
|||
| Board of Tax Assessors Thomas County, GA | |||
| Thomasville Georgia Realtors! Dual Agency is legal - Buyer Beware | |||
 |
Always Compare The Square Footage of a Realtors Listing with County Public Records. 90% of the time it is not the same! If the square footage is not the same as public records. I would consult with a closing attorney for advice on how to best address this issue to correct the square footage of the property. By doing so, you will add peace of mind that you will not be stuck with property issues later when your ready to sell. | ||
|
If a Real Estate Agent in Thomasville, GA shows you a property that they clam is Energy Efficient or that it has Energy Efficient features I Would ask for proof. Remember your the one that is going to pay for that high electrical bill! |
|||
|
Steering:
The
Meaning
of
Steering:
If
you
have
a
real
estate
license,
you
know
the
definition
of
steering:
the
illegal
funneling
of
home
buyers
to a
particular
area
based
on
the
desire
to
keep
the
makeup
of
that
neighborhood
the
same
or
intentionally
change
it,
or
showing
your
clients
homes
that
are
listed
by
the
brokerage
firm
only
to
keep
the
full
commission.
If
they
tell
you
that
they
show
all
listings.
I
would
make
sure
that
the
yard
sign
I
see
in
the
front
of
each
listing
is
not
from
the
same
brokerage
office.
This
would
be
considered
STEERING.
I
would
also
read
up
on
Dual
Agency
in
Georgia
"Who
is
Your
Agent
Working
For"!
-
LOOK
FOR
A
BUYER'S
AGENT
WHEN
SHOPPING
FOR
A
HOME!
Email
Use
For
More
Info.
Yard
Signs:
With the
lack of
home
buyers
do to
the
economy
it looks
like
some
realtors
and
brokers
are
keeping
buyers
restricted
to their
office
listings
only.
Buyers
one way
to make
sure
you're
not
being
restricted
is to
keep a
look out
for the
brokers
yard
sign. If
you keep
seeing
the same
yard
sign
from the
same
listing
brokers
office
you are
being
(Restricted)
Realtors
and
Brokerage
offices
in
Thomasville
Georgia
can add
the
words
"We Show
All
Listing"
to their
website
all they
want it
does not
change
the fact
that
they DO
NOT show
all
listings.
REALTORS
AND
BROKERAGE
FIRMS IN
THOMASVILLE,
CAIRO
GEORGIA
BUILDING
HOMES
You
would
have to
wonder
the
quality
of a
home
when
Realtors
and
brokerage
firms
are
involved
in the
building
of
homes,
listing
them and
selling
them all
at the
same
time and
with the
option
of DUAL
AGENCY
in
Georgia
who is
protecting
the
consumer.
Realtors
should
not be
practicing
builder
duties
without
a
license
or
without
any type
of
design
knowledge
and with
NO
liability.
A
builder
has the
experience,
knowledge
|
|
||
Be alert
of
Builders
&
Realtors
clamming
to be
developers
and
building
quality
homes.
 |
|||
| and the license to build solely homes verses an inexperience and with the lack of building knowledge a Realtor would. You would have to question who will warranty the construction if problem arises. Each Professional needs to stay within their field of expertise. You would also have to wonder whose home the Realtor or brokerage firm will show first, the one they built or your home that you just listed with them. | |||
|
Dealing with dual real estate agents:
Historically, real estate agents have represented the seller of a property. The seller, after all, is usually the one who pays their commission, and agents therefore have a fiduciary relationship with the seller. This in no way means that agents may operate outside the bounds of the law and ethical conduct of course. It just means that the real estate agent is just that, an authorized agent of the seller for a particular transaction. More recent trends have introduced buyer's agents, who usually work exclusively for the buyer, and dual agents. Dual agents represent both seller and buyer, particularly in cases where the agent's company is the listing company. Dual agency is legal in most U.S. states; however, most consumer advocacy organizations recommend against using a dual agent. This is because there is an
inherit conflict of interest for the agent - they receive a commission based on the selling price of the property. The higher the price, the higher their commission, so their reasoning is that dual agents never really have the buyer's best interests at heart. If you've decided to work with a dual agent, this will need to be disclosed to both the buyer and seller, and they both have to agree, in writing. Dual agents are bound by law and ethics to treat both buyers and sellers honestly, equally, and fairly. Dual agents can be prevented from divulging confidential information about each party to the other. This could severely harm negotiating positions. The bottom line in dealing with a dual agent is to remember that the buyer and seller have conflicting interests in the price and other terms of the sale. It's very difficult for an agent to truly and equally represent both parties, since the conflicting interests make that inherently impossible. If you do choose to use a dual agent, be sure the exact nature of your relationship with the dual agent is clear, know what services the agent will be performing for you during the transaction, how the agent will be paid, and how any conflicts that arise will be handled.
Buyer's Agent a better choice!
|
|||
| Top | |||
|
Is
Dual
Agency
in
the
publics
best
interest?
What
is a
Buyer's
Agent??
A
buyer's
agent
is
an
unbiased
and
independent
licensed
real
estate
agent
who
is
focused
on
promoting
the
buyer's
best
interests.
The
buyer's
agent
should
have
no
affiliation
with
the
home
seller
or
his
agent;
this
person is
there
to seek
out a
better
price
and
terms
on
the
buyer's
behalf.
What
is a
seller's
agent
(listing
agent)?
Generally
speaking,
this
is a
real
estate
agent
who
has
entered
into
a
contractual
agreement
to
sell
the
seller's
home
(for
a
commission)
and
to
promote
the
best
interest
of
the
home
seller;
this
usually
entails
getting
the
highest
possible
price
and
best
terms
on
behalf
of
the
seller.
Dual
Agency
With
Same
Agent?
Closing involves a series of complex phases: examination of the title, completion and explanation of legal documents, and resolution of any possible title difficulties. Real estate closing attorneys conduct each of these steps. First, they examine the title records for prior conveyances, unpaid mortgages, liens, judgments, easements, and other encumbrances and clouds on title. They verify that the seller has the authority to convey a good title to the property and that no errors exist in the deeds in the chain of title. They likewise negotiate with the title insurance company for insurance coverage to insure titles against any adverse claims of ownership, liens, and easements. Closing attorneys next combine all relevant information into one set of closing documents. At the closing, they provide detailed explanations of the documents to insure that the parties understand all issues involved in the transaction. Such matters include: the relevant contracts of sale, obligations of contracts, ordering of the title searches, their analysis of title searches, significance of the title search, quality of title, extent of risks, probability of damage, obligation to close or not to close, process of closing itself, and documents there exchanged. They then disburse funds, record relevant documents as public records, and prepare title insurance policies for the purchaser and lender. The closing attorney's role can be summed up as follows: For buyers, attorneys:
|
|||
| Always Double Check: |
| Court Ruling: Square Footage Must Be Accurate | What Other Agents Are Saying About Dual Agency |
| Overpriced Home Ignites Lawsuit Against Agent | you may want to say "No" to Dual Agency | Thomasville GA. Public Record |
| Realtor.com Dual Agency A MUST READ | NO Dual Agency in Georgia |
| Disclaimer: This page is dedicated to expressing the opinions that we hold and presenting them to the public. We do not wish to force our opinions onto others. We merely state them. If one chooses to accept our opinions as fact or valid...that's great! But if one chooses to dismiss our opinions and disregard what we have to say...that's fine, too. It is you, the reader, who makes the choice of whether to believe us or not. |
|
Equal Housing Opportunity