Iam a new realtor. I represent 2 clients. I have a situation where both clients want to bid for the same property. My questions are:
1. Can i do this?
2. Is this violation of fiduciary duties?
3. If i cannot, what are my options?
Ask your broker for assistance with these types of situations.
Hi, Steve, I had to bump you up on that answer, that's the best answer!
If your state has a transactional agent relationship, you could proceed if that was your relationship with both clients, and in that disclose that you may represent another party in the same capacity on the same property, that is, if your state allows such. But, thats ackward!
Your broker may assign another agent to assist you and split commissions.
Best advice is above, see your broker ASAP! But, if one client decides to move on and look at other properties, problem solved! Bill
Even in states where this might be allowed, the agent's broker might still insist on separate agents for each client. The broker supervises the licensees, and as such the licensed agents have to abide by their broker's rules and determinations. Some brokers just might be more strict for whatever reason. That's why my one line answer above was spot on :)
Thanks for all your replies. I shall definitely check with my broker. BTW iam a Realtor in VA.