Insider's View - Beware...If You Enlist The Same Real Estate Firm as Your Landlord
October 1, 2009 | Posted In Insider's View, Newsletters
Since tenants & landlords have contrasting & even conflicting business interests, how can one brokerage firm represent both the landlord & tenant (known as dual agency) without there being a conflict of interest? Very simply, it is not possible. As such, when a tenant enlists a dual agent rather than a tenant representative, the tenant gives up the benefit of having an advocate representing only its best interest, & instead consents to enlisting a brokerage firm that provides limited duties. While the law does permit dual agency, the agent must clearly disclose the conflicts of interest & obtain consent from the parties involved.
