Newly Amended Dual Agency Disclosure Law: Much Ado About Nothing
http://www.allenmatkins.com
As of January 1, 2015, the duty of a real estate agent to disclose in writing his or her representation of a buyer, seller, tenant and/or landlord, including any dual agency relationship, in residential real property transactions extended to transactions involving commercial real property. By its supporters, the amended disclosure law has been touted as "significant," "putting teeth in a new protection," and no less than "changing the face of commercial realty in California." For those who read the law and know the industry, however, all of the ballyhoo over the additional disclosures is enough to leave an agent scratching his or her head.
As of January 1, 2015, the duty of a real estate agent to disclose in writing his or her representation of a buyer, seller, tenant and/or landlord, including any dual agency relationship, in residential real property transactions extended to transactions involving commercial real property. By its supporters, the amended disclosure law has been touted as "significant," "putting teeth in a new protection," and no less than "changing the face of commercial realty in California." For those who read the law and know the industry, however, all of the ballyhoo over the additional disclosures is enough to leave an agent scratching his or her head.
