From the Los Angeles website: The California Supreme Court ruled Monday that a real estate brokerage representing both the buyer and seller in a deal owes the same fiduciary responsibilities to each party, potentially setting a significant precedent for how information is shared in so-called “dual-agency transactions.”
In a unanimous decision, the court ruled in Horiike v. Coldwell Banker that a when an agent representing a seller is working for the same firm as the agent representing the buyer, they become an “associate licensee” and must properly investigate and disclose all important information related to the transaction. [more]