Is there a conflict of interests when a law firm sells real estate?
This is often a rhetorical question, asked by estate agents in a desperate attempt to separate the role of estate agent from the role of lawyer. Estate agents try to convince consumers that the estate agent has a distinct role, that the lawyer has a different role, and that bringing the two together somehow constitutes a conflict of interests. Ironically, one of the reasons we developed our real estate sales service was to eliminate the conflicting interests inherent in the existing real estate industry! The measures we take to the eliminate the conflicts of interest that exist in the real estate industry include: • Valuations – Every vendor client must obtain their own independent valuation from an accredited valuer. This is because there is a conflict of interests where the person who is advising as to the value of the property also has an interest in the sale of the property. (See this posting on the Australian Real Estate Blog, about an estate agent who confirms that estate agents
