However, the CFA is calling for new reforms, including the prohibition of dual agency
, which is already illegal in eight states, and full disclosure of agency at the first substantive contact with the client.
Florida's Rule 5H is the strongest incarnation of law and rulemaking in the nation to address fraud by both misrepresentation and concealment, undisclosed dual agency
, and secret profit-taking in horse sales.
The complaint filed in Westchester County Supreme Court on July 14 quotes a former New York State Department attorney as saying: "if dual agency
is disclosed properly, there isn't anyone in their right mind who would agree to it."
The team at Sage never performs dual agency
, because they never want to have a conflict of interest.
Leader spent some time as a dual agency
dealing with both public relations and advertising but ultimately it came to specialise in the former.
Relevant ethical principles include autonomy, beneficence, confidentiality, and dual agency
. A review of all these ethical issues is beyond the scope of this article, so here I highlight confidentiality and dual agency
, the act of representing both the buyer and the seller in a property transaction, is becoming increasingly common as buyers shop for houses on the Internet, contacting the seller's agent directly, the New York Times reported.
However, if you want someone who can help you come up with the best offer, steer away from a dual agency
agreement, says Doug Miller, a real estate attorney and executive director of the Navarre, Minnesota-based nonprofit Consumer Advocates in American Real Estate.
Previous research has highlighted noteworthy issues in performing these evaluations, for example, showing underappreciation of the concept of dual agency
(the conflict between serving as the treating physician and as an objective evaluator) and poor agreement among psychiatrists as to whether a patient is in fact disabled.
"A dual agency
approach results in earlier notification of incidents between services leading to earlier deployment of resources."
The legislative committee did pass an amendment to a law regarding dual agency
in horse sales, which went into effect last year.