can i take legial action aginst a realiter for selling to his own buyer a house that he also was the rep for the seller on when i was another bidder?

Asked by pirobro2005, Devine, TX Mon May 14, 2012

this conflict of intrest has me wanting to quit looking for a house and just start to rent an appartment arnt home buyers protected aginst this i mean he could of looked at my bid and just upped theirs to ensure his buyer won the bid.

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Michael Cheng, Agent, San Jose, CA
Wed Jul 18, 2012
Sure, you can always take legial action against anybody at anytime. That's why this country is graduating far more lawyers than doctors. On whether you should take action, you'll have to speak with yet another lawyer, not a bunch of real estate professionals.
Web Reference:  http://www.archershomes.com
0 votes
Melinda Sanc…, Agent, Sarasota, FL
Tue Jul 17, 2012
There are too many unknown variables surrounding this situation. Consulting a real estate attorney is always the best option.

Dual agency (one real estate agent representing both sides of a deal) is not allowed in Texas, but there is something called Intermediary. There is a document entitled, Information About Brokerage Services, that is required to be signed by anyone making real estate offers in the state of Texas. A copy of this can be found here and it should explain everything clearly in easy to understand terms:

http://www.trec.state.tx.us/pdf/contracts/OP-K.pdf

It is necessary to realize that all offers must be presented to the seller by the listing agent for consideration. Timing is everything in real estate and so is going in with your highest and best offer when a multiple offer situation is in effect. If another offer was presented before yours, it is possible that the sellers were already in the process of reaching an agreement with the other buyer.
0 votes
Anna M Brocco, Agent, Williston Park, NY
Mon May 14, 2012
For any necessary legal advice consult with an attorney who specializes in real estate. Keep in mind that it's the seller who decides which offer to accept not the agent; generally the best offer with the best terms tends to win; what is your agent advising....
0 votes
Scott Godzyk, Agent, Manchester, NH
Mon May 14, 2012
In most states a listing agent can sell a home to a buyer not represented by another agent. You really need to look at the offers and compare not only price but terms, if you had any contingincies, did you include a pre-qualification letter and how much deposit did give. More than half of the time buyers will comne directly to me instead of hiring an additional agent. This does not mean you hav eto give up searching, just need to know with the amount of listings down near 30% in some areas and sales up near 18% in some areas, you have to make your best offer first in some cases.
0 votes
Ron Thomas, Agent, Fresno, CA
Mon May 14, 2012
Do you not think that a Realtor has the right to sell any house on the market, including one that they may own?

The only "catch" to it is; did they DISCLOSE that they were the dual agent?
I'll bet they did.
If we didn't read what you signed.....
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