Understanding the Mechanics of Self-Dealing At its core, self-dealing is a breach of fiduciary duty. Clients should verify the ownership records of any property an agent shows them.
Essential Due Diligence Steps to Uncover and Prevent Self-Dealing
Real estate investors must disclose their affiliations and financial stakes in any property they are marketing. In a real estate context, this duty is most commonly observed in agent-client relationships.
This exploitation can manifest in various ways, from steering a client toward a property the agent owns to manipulating the appraisal value to benefit a personal investment. Identifying Conflicts of Interest Not all self-dealing is overt; sometimes it occurs subtly through a conflict of interest.
Essential Due Diligence Steps to Uncover Self-Dealing in Real Estate
Furthermore, clients should insist on written disclosures regarding any potential conflicts. By promoting transparency and strict adherence to disclosure laws, the industry works to ensure that real estate remains a reliable asset class for honest participants.
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