Found an issue on this page? Let us know and we will look into it as soon as possible.
If a house buyer's broker and seller's broker are from the same firm, does there need to be a dual agency disclosure/waiver?
Anonymous2 views4 answers
My fiancee has been trying to sell her house for many months, using her friend who is a broker. After the initial contract ran out, the agent friend convinced her to extend.
Especially after the extension, there was little work being done to sell as far as I can tell. The agent showed the house I believe once, and hung a lock box on the door so that future prospective buyers could let themselves in to see the place.
Eventually my fiancee asked to terminate so we could sell the house ourselves. Her friend then brought her a buyer within about a day--but it happened to be one represented by the same firm.
Isn't this dual agency, sufficent to require disclosure and a waiver? The circumstances of the deal seem questionable.
It really isn't clear based on this. Much of it depends on what your fiancee signed and what disclosures she may have already received.
I concur that it seems strange and you are fully justified in demanding details here.
In Massachusetts, a deal involving two real estate agents in one firm may be one of the following: a dual agency or a designated agency. A dual agency must be disclosed and accepted by all parties; an undisclosed dual agency is illegal in Massachusetts. SO, this had to be disclosed to you. A designated agency can also exist in this situation; again, a proper disclosure should have been presented to you. It sounds like this real estate office is not following proper protocol. I addition, you do not have to accept the offer being presented if you are not in agreement.
If you wish to terminate the exclusive with the realtor, I always suggest that you meet face to face ,first, to try and settle the matter.
In Massachusetts, even if the two different agents from the same brokerage firm dual agency exists. Once the offer is made by one broker, there should be a form that discloses the dual agency relationship and the parties involved must sign and give permission.
