Protecting the Rights and Interests of Home Buyers in Cooperatively Brokered Sales

  • July 24, 1989
  • • Written by: Neil G. Waller Theresa H. Waller

Spring/Summer 1989, Vol 14, No 1

Abstract: The research in this article evaluates alternative agency models and determines which legal model best protects the rights and interests of home buyers in cooperatively brokered residential transactions. The traditional legal model (subagency) is analyzed first, the buyer-seller-broker agency relationship in a cooperatively brokered home sale is defined, and the transaction’s inherent conflicts of interest and failure to adequately safeguard the home buyer are discussed. The alternative agency models, dual agency and buyer’s agency, then are proposed and analyzed.