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"This belief follows from the mistaken notion that if there are two brokers involved in the transaction where one has listed the property and the other is assis
by jmzachary 19y ago
"This belief follows from the mistaken notion that if there are two brokers involved in the transaction where one has listed the property and the other is assisting a buyer in finding a property, then one of them has a fiduciary responsibility to the buyer. This is almost never the case in conventional real estate transactions - all the brokers involved work for the seller."
This is only true in subagency situations, which are going away in most MLS regions in favor of designated agency. In designated agency states (many, if not most) and broker-buyer agreements, the licensee representing the buyer does indeed have a fiduciary responsibility to the buyer.