South Florida Real Estate and Dual Agency

When Your South Florida Real Estate Agent is Working Both Sides of the Fence

It's extremely common in the real estate world when an agent represents both the buyer and seller.  The industry term for this is called "dual agency".

One might ask, isn't this a conflict of interest?  And is dual agency illegal in Florida?

Our guess is yes.  Unfortunately, it doesn't stop agents from keeping up with the practice.  In many states, this is actually a finable offense.  The problem lies in the fact that the commission the agent stands to make representing both sides is often larger than the fine.

To make sure your Fort Lauderdale realtor isn't representing both side, simply ask.  If you do find out after the fact it's probably a good idea to cut ties, because the agent is most likely not a trustworthy individual.

Foreclosure slow, but expected to increase again in 2012

According to the Sun Sentinel, Broward County foreclosures declined 67% in the last year.  Although filings are expected to to in crease this year according to data.

According to many Fort Lauderdale Realtors,the reason for the decline could be because of a rather dysfunctional foreclosure process.  In one of the most rugged real estate environments of all time, South Florida was one of the top regions to be hit the hardest.

Although the slowdown in filings is a good thing, it's not necessarily because the real estate or economic market is doing better.  The result of the slowdown was mostly due to the "robo signer" controversy.  Since then, banks have been a little more reluctant to file cases against homeowners.

To add insult to injury, most of the already forclosed upon home are being bought and sold at auction prices, which in turn effects all the home prices in the South Florida area.  The low prices are however making it easier on some South Florida realtors, which have seen a spike in sales recently.

To stay on top of your local South Florida Real Estate market, or receive a list of foreclosures in your local area, visit HenriFrank.com