Agent conflict of interest

hi there
Was wondering people’s thoughts on buying a property through a agent where my wife works
Is there a legal conflict of interest that could bite us in any way ? Or does it come back to bite them ?
Interested to hear peoples answers

 

Better declare it to the vendor.

 

Thanks terry
What about if the property has been singed
For what me and agent both agree was market value and latter the vendor changes their mind ?

 

Don’t get you sorry ?

 

Agent should declare to the vendor when presenting your offer.

 

Is that more on the agent of duty of disclosure
Or the purcherer who never talked to the vendor

 

In NSW if buying and you are an agent of the listing and selling agency you must disclose to the vendor on a section 49 form. Also you may not charge the vendor a sales commission and you must get an independent valuation from a valuer and pay that amount for the property.

 

Just get your spouse to notify their connection in writing to their employer. The licensee has the duty of care to their client - not you.

 

Check state regulations.
You will have to declare the fact to the vendor.
The agency may not be allowed to charge the vendor commission on this sale.
Marg

 

It's not clear whether the vendor and agent are the same person - in which case, clearly this has to be declared. If the house is being bought through an agency by an agent's employee (your wife) I believe the vendor has to be informed as well but likely to vary with each state (as Marg states). So just declare it. If the contract has been signed, still let vendor know and give them the option to renegotiate the contract.

 

My spouse is a sales assistant to a differnt selling agent in the same agency

My spose is a sales assistant to a differnt agent in the same agency
The deal was presented to me with out her knowing and I done the deal
Now the house has been renovated and on sold for more it’s like the vendors who we bought from are up set as it’s more then then they sold it

Even know it was full off junk and rubbish and desperate to sell right befoure Christmas I sense some jealousy

 

Ps
My spouse didn’t or doesn’t receive any commission from any of the sales

 

It is not you or your spouse's problem. It is the agency's

 

Not your issue but is definitely a potential issue for the agent if they have not disclosed the relationship

 

Strong potential for there to be an issue there. That should definitely have been disclosed. The agency should be getting legal advice. Fortunately, I don't believe it's your problem at all.