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Real Estate
Reply to "New rules: buying without an agent"
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[quote=Anonymous][quote=Anonymous]Does a buyers' agent have a fiduciary duty toward the buyer? [/quote] Yes. [quote=Anonymous]In the pre-NAR settlement world the buyers' agent was being paid by the seller, so it seems to have voided - or perhaps complicated - the fiduciary duty toward the buyer.[/quote] It's always been complicated because the listing agent can offer buyer broker compensation. Seems like a conflict of interest. [quote=Anonymous]I'm curious about what has been argued in court. [/quote] Moehrl was mainly focused on listing agents offering buyer agent compensation. The result is buyer agents shopping for higher commissions. This incentivizes buyer agents to not act in the best interests of buyers. Where listings offer lower or zero commissions, buyer agents will lie to buyers about the home the buyer wants (tell them its sold for instance) because the agent wants a higher commission. [/quote]
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