DIYbanter - View Single Post

On 4 Apr 2006 06:26:02 -0700, wrote:

Hi,

I have a friend who is shopping for a house in Calif. and has found one
that she and her husband like a lot. They'd like to make a bid and try
to purchase it. Yet they've also learned that their real estate agent
also represents the person selling the house. What should they do in
this situation?

Many thanks for any advice,

Sally

"Learned" how? The agent told them? Or they found out on their own?
As other posters have mentioned, this is called "Dual Agency" and
while legal, the agent's fiduciary duty is to the seller.

If the agent told them, no problem. If the agent did not disclose, I
would RUN to a different agent for representation even if I had an
agreement with the first. That agent would have a
license/ethical/legal issue with not disclosing this in the first
place.