Description
This question is often a source of confusion for agents and sales representatives. The widespread misunderstandings of the legislative restrictions on these arrangements were made more obvious during the recent border closures when out-of-state buyers were attempting to get agents to act on their behalf in transactions where they were already contracted to the property sellers.
This course will cover the various areas of law that determine why it is not possible to act in the best interests of a buyer and a seller in the same transaction – and the inherent risk in thinking that it might be ok. The session is suitable for sales representatives and agents and may be of interest to property managers wishing to gain more insight into the sales process and agency law.
This session considers:
- Conflict of interest in acting for two parties
- The role of the Code of Conduct
- Common Law, specifically Principal and Agent relationships and fiduciary duties
- This session delves into the reasons why an agency cannot get paid by a buyer and a seller in the same transaction.
Note: This session is intended as an educational product only and is not legal advice, if you have any issues requiring a legal opinion then seek out a suitable qualified legal practitioner.
