Wheel Street Journal #9 - Double Ending

Double Ending: Is it dirty?
This week we sat down with Tony Theophilos, a top notch real estate attorney with Starr Finley, to dig into all the nuances of double ending deals. The conversation was extremely interesting and revealing, so click the video above to watch.

Double ending, or dual agency, is when both the buyer and seller in a real estate transaction are represented by the same broker. It is a common industry practice, but one that is riddled with pitfalls, complications and ethical concerns, while often being a tremendous benefit to the parties involved. Here are the basics:

1. The Agent will deal with the Buyer and the Seller impartially.
2. The Agent will have a duty of disclosure to both the Buyer and the Seller.
3. The Agent will NOT disclose that the Buyer is willing to pay a price or agree to terms other than those contained in the Offer, or that the Seller is willing to accept a price or terms other than those contained in the Listing.
4. The Agent will not disclose the motivation of the Buyer or the Seller to sell unless authorized by the Buyer or the Seller.
5. The Agent will not disclose personal information about either the Buyer or the Seller unless authorized in writing.
6. The Agent will disclose to the Buyer the defects about the physical condition of the Property known to the Agent.

We have a 12 minute uncut version, too, so contact us if you want the unedited version.

Category:

News & Politics

Tags:

• multifamily
• real estate
• investment
• wheelhouse
• brokerage
• whvideo14

[glenthegoalsguy]

your microphone volume 0:17-0:35 is too low and tinny. Maybe try a lapel mic. Good content though :)