Dual Activity – Definition, Brokerage & Explanation
Dual Activity – Dual activity refers to brokers. The definition is that a broker acts for a seller and a buyer at the same time. Our guide: purchase guide. The requirement is that the real estate broker be impartial. The real estate broker must also act as a listing broker for both parties or as a listing broker for one party and a listing broker for the other. According to the BGB, the parties must be informed of the dual activity of the real estate agent and a detailed explanation is part of the service of a good real estate agent.
Overview of dual activity
- Dual activity relates to brokers
- Broker may act for seller and buyer at the same time
- Impartiality of the real estate agent is a prerequisite
- Real estate agent for both parties as a proving agent or for one party as a proving agent and for the other as an intermediary agent
- Buyer/seller must be informed about dual activity
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