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Dual Agency: 2016 Horiike decision  extends duty of selling and listing agents to learn and investigate.

As brokerages insist on continuing dual-agency transactions, a frequent review of the Horiike decision is justified for all brokerage counsel. In 2016, the California Supreme Court held in Horiike that a listing agent in a dual agency transaction had a fiduciary duty to the buyers, to “learn and investigate” material facts that could affect the buyer’s decision to purchase.  In Horiike, the agent Cortazzo made representations to an earlier buyer regarding the property square footage, that were not made to a subsequent buyer. The Horiike court found that associate licensees had the same duty as the broker Coldwell Banker. Download PDF Horiike v. Coldwell Banker