Dual agency means an agency relationship in which a
Dual agency means a situation in which a real estate brokerage firm, or itsthe real estate brokerage firm's licensees, owe a duty to more than one party in a real estate transaction. Dual agency is established only as follows:
Dual agency means an agency relationship in which a licensee is representing both buyer and seller or both landlord and tenant in the same transaction. When the agency relationship is a designated agency, the question of whether there is a dual agency shall be determined by the agency relationships of the designated agent of the parties and not of the sponsoring broker.
Examples of Dual agency in a sentence
Dual agency will limit the level of representation broker can provide.
Dual agency is explained in the Commission's Guide to Agency Relationships.
PSOs should simply record the primary behavioral state (i.e., traveling, socializing, feeding, resting, approaching or moving away from vessels) and relative location of the observed marine mammals.
Dual agency is permitted if both the buyer and seller give their informed consent to it.
Dual agency: an express written agreement that modifies existing exclusive agency agreements to provide that the brokerage agrees to act as a facilitator in a real estate transaction rather than as an exclusive agent for either party to the transaction.
More Definitions of Dual agency
Dual agency means a form of agency in which a real estate brokerage firm with two clients in the same transaction gives limited agency services.
Dual agency means a situation in which a licensee owes a duty to more than one party to the real estate transaction. Dual agency is established as follows:
Dual agency means a form of agency whereby a real estate brokerage firm with two clients in the same transaction gives limited agency services and acts as a neutral mediator.
Dual agency means an agency relationship in which a licensee is working with both buyer and seller or both landlord and tenant in the same transaction. Such a relationship shall not constitute dual agency if the licensee is the seller of property that he/she owns or if the property is owned by a real estate business of which the licensee is the sole proprie- tor and agent. A dual agency relationship shall not be construed to exist in a circumstance in which the licensee is working with both landlord and tenant as to a lease that does not exceed a term of three years and the licensee is the landlord. Dual agency is allowed only when informed consent is presumed to have been given by any client who signed the dual agency disclosure form prescribed by the Louisiana Real Estate Commission. Specific du- ties owed to both buyer/seller and lessor/lessee are: • To treat all clients honestly. • To provide factual information about the property. • To disclose all latent material defects in the property that are known to them. • To help the buyer compare financing options. • To provide information about comparable properties that have sold, so that both clients may make educated buying/selling decisions. • To disclose financial qualifications to the buyer/lessee to the seller/lessor. • To explain real estate terms. • To help buyers/lessees arrange for property inspections • To explain closing costs and procedures.
Dual agency means a situation in which a real estate brokerage firm or the real
Dual agency means a type of agency in which:
Dual agency is most likely to occur when a buyer represented by a buyer's agent wants to purchase a property listed by the agent's firm. A dual agent must carefully explain to each party that the agent and the agent's firm are also acting for the other party. In any dual agency situation, the agent must obtain a written agreement from the parties which fully describes the obligations of the agent and the agent's firm to each of them. -------------------------------------------------------------------------------- This firm represents both sellers and buyers. This means that it is possible that a buyer we represent will want to purchase a property owned by a seller we represent. When that occurs, the agent and the firm listed above will act as dual agents if all parties agree.