California Supreme Court rules on dual agency case

  • The state supreme court affirmed a lower court's ruling that listing agents owe fiduciary duty to buyers when both buyers and sellers are represented by the same brokerage.

The California Supreme Court has upheld an appeals court decision finding that a listing agent who participated in the 2007 sale of a Los Angeles home for $12.25 million owed fiduciary duties to the buyer because both buyer and seller were represented by the same brokerage.