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For the record dual agency is actually illegal in some places: https://www.homelight.com/blog/dual-agency-is-illegal-in-some-states/ https://www.homelight.com/b
by SOLAR_FIELDS 5y ago
For the record dual agency is actually illegal in some places: https://www.homelight.com/blog/dual-agency-is-illegal-in-some-states/ https://www.homelight.com/blog/dual-agency-is-illegal-in-som...
Though I will point out that in most of the jurisdictions in the link provided, there's nothing that prevents your scenario - a third party offer is turned down due to the dual agency bid being favored by the sellers because they never received your bid. Only in Colorado, Florida or Kansas is it explicitly prohibited. But at least if it was in one of the other states that requires disclosure (Alaska, Maryland, Texas, Vermont, Wyoming) the sellers would have at least been aware of a possible conflict of interest and may not have entered into a contract because of it.
- Spooky23 5y agoTotally get that what the other guy did wasn't illegal in my state. The thing that bothers me is that as salespeople, real estate agents can deploy all sorts of fluffery and bamboozle people who believe their "agents" are acting in their interest. Of course the reality is that there is very little governing their conduct and behavior. Without a functional "exchange" or disclosure rules, both buyer and seller are dependent on good faith.