This is a new topic for me. I have a client that I have Pre-Approved for a home loan that has been looking at properties with his Realtor®. The last offer fell out of escrow, because the home didn't appraise to the contract price. NOW....My client's REALTOR® is trying to sell her own personal property to him. I'm lost..... Questions..... 1.) Wouldn't this be considered an "Arm's Length Transaction?" 2.) Is this action acceptable under the REALTOR® Code of Conduct? 3.) I would imagine it would need to be disclosed..Correct? 4.) Would another REALTOR® in the office (or the Broker of Record) be better off taking the listing or representing the client? To me, it seems illegal and a conflict of interest, when the seller is seeking the highest selling price and the buyer is looking to pay as little as possible for the home. What say you Rainers? It's been a while since I've been in the rain it it feels nice to feel it upon my face :)
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