New Listings
| MLS# 1603699 - 211 STATE ST |
| Mark Linde | 4 Bed 1 Bath | $127,500 |
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| MLS# 1603708 - 456 CONCORD DR |
| John Frederickson | 2 Bed 1 Bath | $164,900 |
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| MLS# 1603715 - 456 CONCORD DR |
| John Frederickson | 2 Bed 1 Bath | $164,900 |
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A/O's
1600368 Schmidt, Sarah 3537 Old Gate Road Madison
KWW Frig
The Friday BEFORE Labor Day weekend, the KWW staff will be completely emptying the refrigerator. Please make sure to label anything that you would like saved. Anything without a label, no matter how new or old, will be thrown away.
Legal Hottip
| Q. An agent has a buyer agency agreement with the buyer who wants to purchase a property listed by that same agent. Both clients chose to have multiple representation with designated agency. The buyer is willing to have the agent represent both sides of the transaction. Is that possible? Does a buyer/client need to sign to accurately reflect the relationship now? |
A.
A single agent cannot provide multiple representation with designated agency representation in a transaction so something will need to be changed with regard to the agency relationships if this transaction is to be pursued. There are several different ways that this situation might be resolved, depending upon the preferences of the clients and the agent.
Some possible solutions include:
1) The buyer or seller (or both) may change his or her consent for representation to multiple representation without designated agency. By operation of law, when both parties have consented to multiple representation (either with or without designated agency) but neither or only one has selected the designated agency component, then the agency relationship for both parties is automatically deemed to be multiple representation without designated agency (dual agency) and the agent may not place the interest of any client ahead of the interest of any other client.
2) Another agent in the company may be brought in to represent either the buyer or the seller in the transaction so that everyone can proceed with the multiple representation with designated agency selected by both parties.
3) The buyer agency agreement may be modified to exclude the listed property from the agreement. The agent may then proceed to work for the seller as the listing agent, and the agent may provide services to the buyer as a subagent or the buyer may work with an attorney.
4) The listing contract may be modified to make the buyer an exception to the listing and the agent then would work as a buyer’s agent. The agent may provide brokerage services to the seller as a customer or the seller can work with an attorney. |
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