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A real estate licensee can be the agent of both the seller and the buyer in a transaction, but only with the knowledge and informed consent, in writing, of both the seller and the buyer.
Under Michigan law, dual agency is legal and authorized, as long as there is not a conflict of interest, and both parties are aware of the dual agency.
REALTORS shall submit offers and counter-?offers objectively and as quickly as possible. REALTORS shall continue to submit all offers and counter-?offers until closing unless seller has waived this obligation in writing.
The Board works with the Department to oversee the practice of real estate salespersons, associate real estate brokers, real estate brokers, and branch offices. The Board consists of 9 members: 6 professional members, and 3 public members. Each member serves 4 year terms.
A service provision agreement offers protection to both parties. The homeowner has a commitment of what the company will provide and what work will be done. The service provider has a promise of payment for the complete work.
As a buyer, you put an offer on a house that's under contract just as you would if you were the first interested party, negotiating until you reach terms and a contract with the seller. If the first deal falls through for any reason, you're next in line to get the house.
Dual agent ? A real estate agent may act as a double agent representing both the buyer and the seller in a real estate transaction but only with both parties' express consent. A dual agent shall be neutral concerning any conflicting interests of the seller and buyer.
Offer reciprocity? A: No. Michigan does not offer reciprocity with any other state. An applicant for Michigan Real Estate Salesperson or Broker license must meet education, experience and examination requirements in place as of the date the application is submitted.
If working with someone representing both the seller. and the buyer makes you uncomfortable. ?? Be aware that in some states, dual agency is illegal, but here in Michigan, dual agency is LEGAL.
If working with someone representing both the seller. and the buyer makes you uncomfortable. ?? Be aware that in some states, dual agency is illegal, but here in Michigan, dual agency is LEGAL.