Articles from November 2016

CALIFORNIA SUPREME COURT RULES THAT DUAL AGENCY CREATES DOUBLE FIDUCIARY DUTY FOR AGENTS

Monday, November 28th, 2016

The California Supreme Court ruled that both sales agents working for the same broker in a dual agency transaction owe fiduciary duties to both the buyer and seller. This means the listing agent in a dual agency transaction has a fiduciary responsibility to inform and advise the buyer, someone whom the listing agent has probably never met and with whom he/she traditionally does not communicate directly. Conversely, the buyer’s agent has the same fiduciary responsibility to inform and advise the seller.

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