In NYS is a dual agent allowed to give out information regarding forclosure, shortsale, or past due payments to their perspective buyer ? Also can the dual agent give this information out to another real estate agent with another perspective buyer? Legally I'm not sure, ethically this seems wrong. Can anyone let me know please.|||It is a general rule that you shouldn't tell others (agents, buyers, etc) anything (unless it was something you knew that was mandatory to disclose like a material defect or knowledge of an oil tank) that would limit/lower the amount people would be willing to view or offer on the home. For example you can obviously reveal that it's a foreclosure or short sale, but by no means should you say how past due they are or if they're desperate to sell etc UNLESS your seller agrees (preferably in writing) to allow you to do so to push the sale of the property along. You can't give pertinent information that would be detrimental to getting a higher sale price to your buyer that isn't public information and was only revealed to you as their listing agent.|||the law says they are a dual agent, but you and I know there is no such thing.
Your agent owes you confidentiality, you better hope that the "dual agent" knows that.
bests,
-rsr-
Ron R
Exclusive buyer agent
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