A dispute over the sale of a $12.25 million mansion that allegedly turned out to be smaller than advertised could end up greatly expanding the definition of what constitutes "dual agency" in California, and make brokerages more skittish about having two of their agents represent both the buyer and seller in the same deal. If the California Supreme Court upholds an appeals court decision that a listing agent owed a "fiduciary duty" to a buyer represented by another agent at the same brokerage, it could upend the way agency representation has worked in the state for more than two decades, Bloomberg News reports. This state's high court is being asked to decide whether two agents working for the same brokerage -- one representing the seller, and the other a buyer -- each owe a "fiduciar...
Jul 17, 2014 by Inman
Nov 1, 2011 by Matt Carter