Legally and ethically, it is possible for a real estate agent to represent two or more competing buyers on the same property. The real estate agent would have to disclose to all parties that there is a multiple representation situation. If you accept the disclosure, then you can proceed.
Can you have 2 buyers agents?
Yes, a buyer can work with multiple agents as long as they don't have a written agreement with an agent. In most areas this is called a buyer's broker agreement or buyer representation agreement. This agreement basically states a buyer agrees to work with a specific agent and buy a home through that agent.
Can Realtor lie about other offers?
In conclusion, yes, real estate agents can lie about offers. However, it is more likely they are using vague “sales speak” or being upfront about a specific proposal. It is up to you to discover which, retain control over your purchasing and to act in your own best interests.
Is dual agency illegal?
Dual agency is illegal in eight states: Alaska, Colorado, Florida, Kansas, Maryland, Oklahoma, Texas and Vermont. The other states have different laws governing the disclosure of dual agency and the behavior of dual agents.May 10, 2018
Can two agents list the same property?
A: YES! All real estate contracts are negotiable! But the key is to find agents that "work" together, even if they don't work for the same brokerage. ... A:The simple answer to this would be that when you list your home with a real estate company, make sure they are members of the local multiple listing service (MLS).Jan 21, 2011
Can a realtor lie about multiple offers?
In short, a realtor might lie about having multiple offers. They can exaggerate the level of interest they have in a property to drive the price up. The goal is to close the deal as quickly as possible. But doing so isn't exactly an ethical practice.Feb 15, 2021
Can realtor share offers with competing buyers?
Real estate agents cannot by law share your offer with other buyers, but no law prevents the seller from sharing it. ... Monty's Answer: Real estate agents are not allowed by law to share your offer with other buyers or any other details of your proposal with anyone except the seller.Aug 13, 2018
Can there be 2 owners of a property?
Generally, there are three main types of property ownership involving multiple owners: tenants in common, joint tenants, and tenants by the entirety. Owning property as tenants in common is probably the most common way in which multiple people own property together.Oct 23, 2019
How do you share ownership of a house?
In most states, joint tenants must own equal shares of the property. This means that if A and B own property as joint tenants, A owns 50% of the property and B owns 50% of the property. Joint tenants receive their ownership shares by the same deed at the same time.Jan 10, 2019
How do you split jointly owned property?
By far the easiest way to divide jointly held property is simply to agree to do it. The joint tenants can simply come up with an agreed division of the property. It may be a good idea to hire an attorney to draw up a legally binding agreement once you and the other joint tenants have agreed in principle to a division.