The legal and ethical duties and obligations of real estate brokers and salespersons

Article Abstract:

The Code of Ethics of the California Department of Real Estate outline certain rules of conduct that must be observed by real estate agents and brokers in transactions with their clients. Brokers have the fiduciary duty of agent to principal, to protect the interests of their principals in all aspects pertaining to the property transaction, including avoidance of conflicts of interest such as dual agency. In the event that these rules are broken, legal action may be taken on grounds of fraud, resulting in license suspension or revocation and further legal action.

Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Fiduciary Regulations, Real estate industry, Ethical aspects, Business ethics, Banking law, Fiduciary duties, Fiduciaries, California. Department of Real Estate

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Avoiding housing discrimination by real estate professionals

Article Abstract:

Real estate agents and brokers can be held liable for housing discrimination if they exhibit actions in their transactions which discriminate against persons due to their race, color, religion, handicap or national origin. The law which penalizes housing discrimination is the Federal Housing Act of 1968 (FHA). Some of the actions which the FHA prohibits are, refusing to sell or rent properties due to discrimination, discriminatory terms and conditions, discriminatory advertising, and exclusive practices in advertising media or content.

Housing discrimination

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The duty of sellers' brokers to inspect and disclose property defects in residential real property sales

Article Abstract:

Real estate brokers have the duty to conduct thorough inspections of all defects in selling residential real property. They are required to disclose material defects that are actually known. However, they are not required by law to investigate for potential defects beyond a visual inspection of the premises. Brokers should exercise their best judgment when balancing their desire to close a sale against the possibility that a potential defect could expose them to liability.

Liability for condition and use of land

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