NCRECCASESTUDY#3: Dual Agency

Alethea F Nobles

Alethea F Nobles

— 1 min read

Source Credits: North Carolina Real Estate Commission (NCREC)

SUBJECT TOPIC: Dual Agency 

ISSUE: Did Broker A comply with Rule 58A .0104?

FACTS: A BIC designates Broker A to represent a seller-client, and Broker B to represent a buyer-client after both principals provide written authorization for designated dual agency. Prior to being designated dual agents, neither Broker A nor Broker B had prior confidential information about the principals. Further, the BIC reminds Broker A and Broker B not to share any confidential information about their clients without the clients’ permission.

The next day, Broker A and Broker B have a conversation while in the office. Broker A tells Broker B that their seller-client will accept any amount over asking price because they are going through a tumultuous divorce.

Broker B shares the information about the seller with their buyer-client. Later that evening, the buyer-client submits an offer that is $5k over the asking price to the seller. The seller accepts the offer, and the parties go under contract.

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