We've just sold our house, and have discovered through other means that one of the people we've sold to actually works for the same real estate group (just the office in the next suburb over). Is this something our agent should have disclosed to us?
It doesn't change the sale, but would affect what we say to our agent as we haven't been 100% happy with how she's dealt with a few other things.
Thanks in advance!
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04-12-2014 21:06 #1
Real estate disclosure question
04-12-2014 21:24 #2
In NSW agents have to disclose any relationship they have to a buyer to the owner before contracts are signed - employees and relatives mainly but do they own the other office or is it just the same franchise?
04-12-2014 21:52 #3
Are they separately owned franchises?
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04-12-2014 22:12 #4
Same company, different licensees. Does that mean different franchises?
04-12-2014 22:15 #5
Depends - they can still own it as each office has to have a separate license - just check if it's the same company name ( not trading name)
04-12-2014 22:22 #6
04-12-2014 22:26 #7
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04-12-2014 22:46 #8
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05-12-2014 07:19 #9
I'll try to remember to ask a sales agent at work today about this. My understanding is that if it's a separate franchise of the same name it's irrelevant that someone from another office bought it, but I'll ask someone today, if I remember.
05-12-2014 18:10 #10
Okay, I asked a sales agent at work today and he said that if it's a separately owned franchise, they did not need to disclose to you that it was a staff member buying because that business is separately owned. It's only when the same person I owns different offices that it affects the vendor.
Where I work there are franchises all over Melbourne, mostly separately owned so it's only if we want to buy a property being sold by our own office that we are affected.
If you go on their website you should be able to find out who the officer in effective control is (director).
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