CB Richard Ellis defends ‘dual agency’ representation in post office sales

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A brokerage that’s come under fire for engaging in dual agency representation when selling millions of dollars of surplus real estate for the U.S. Postal Service says postal officials were always made aware of the practice when it occurred, and gave their blessing.

“In any instance, where there is an opportunity for CBRE through different sales teams to represent both the seller and the buyer, a dual agency, that fact is disclosed promptly to the USPS in advance for their consideration and consent,” a spokesman for CB Richard Ellis said. “When consent is given, stringent controls are in place prohibiting and preventing sharing of confidential information between our USPS team and any team representing a potential buyer.” Source: bizjournals.com.

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