Buying or Selling a Home/Broker as Principal

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Expert: - 4/11/2004


Question
Is it legal for a licensed New York State real estate broker to act as a seller's broker on a property in New York State where he or she is either the owner of the property or has an interest in it? Another words, can one be both principal and agent simultaneously?

Answer
Hi David,
Thank you for your question.

A licensed broker/agent may represent themselves in the sale of real estate, but in doing so they must reveal they have an interest in the property and identify themselves as a real estate agent/broker in advertising and to potential buyers.
The answer is yes, but there must be disclosure of ownership interest.

Hope this helps you.
Hans

Buying or Selling a Home

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Volunteer

Hans Weber, Licensed Broker Associate

Expertise

I am able to answer questions related to buying or selling residential real estate in New York. There are many questions buyers and sellers have about the process of buying or selling a home that they are afraid to ask or that might seem too simple to ask. For instance: in a house, why do some doors open in and some doors open out?

Experience

Licensed real estate agent in New York State in 1988.
Serving buyers and sellers as a full time occupation since 1988 with over 300 successful residential real estate transactions.

Organizations
National Association of Realtors.
Westchester County Board of Realtors.

Education/Credentials
Graduate of Pace University in 1988 majoring in business and minors in taxation and computer science.

Awards and Honors
Consistently one of top sales awarding winning agents for Coldwell Banker in Westchester County.

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