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The undisclosed principal concept often arises in the context of real estate transactions, where a buyer risks a seller being less inclined to sell land, risks a seller demanding a higher price, or risks a seller becoming a holdout if the seller knows or can guess the identity of the buyer or the buyer's intended purpose for the land which would afford the land a higher value.
In a dual agency situation, the same real estate agent represents both the buyer and the seller of a home. This arrangement can be risky for buyers, since agents are paid based on how much the ...
It also changes in the case of dual agency, when one agent represents both the buyer and seller in a transaction. Laws about this vary by state; in some states, dual agency is not permitted.
Buyer Agency Agreements are where a real estate agent represents the buyer of real estate. With the advent of "Buyer Agency" (Buyer Brokerage) in the early 1990s as opposed to seller agency, a real estate Agent/Broker agrees and contracts to represent the Buyer in his purchase of a home/property. Buyer Agency Agreements were developed to set ...
By Matt Carter and Andrea V. Brambila Republished with permission from Inman News. Homebuyers sometimes gripe that their real estate agent seems more interested in closing a sale and collecting a ...
Legal jurisdictions which provide for apparent authority include the United States, the United Kingdom, Australia, Canada and South Africa.The doctrine of apparent authority is based on the concept of estoppel, thus, it prevents the principal from denying the existence of agency to a third party, provided that a representation, as to the agent's authority, has been made by him to the third ...
An agency is coupled with interest when the agent himself has an interest in the subject-matter of the agency, e.g., where the goods are consigned by an upcountry constituent to a commission agent for sale, with poor to recoup himself from the sale proceeds, the advances made by him to the principal against the security of the goods; in such a ...
The New York Times reports on a developing trend on Long Island: home buyers seeking out their own real estate agents to represent them exclusively in the selection and negotiation process.The ...