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.

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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.