Oklahoma Court Decries Dual Agency, Upholds Exclusive Buyer Agent Claims.OKLAHOMA CITY--(BUSINESS WIRE)--June 4, 1999-- The Oklahoma Supreme Court The Supreme Court of Oklahoma is one of the two highest judicial bodies in the U.S. state of Oklahoma and leads the Oklahoma Court System, the judicial branch of the Oklahoma state government. issued a decision sharply critical of dual agency and the Oklahoma Real Estate Commission. The court ruled not only that The Buyer's Agent exclusive buyer brokerage For a general article of the scope of real estate brokerage, see . Buyer brokerage (or Buyer agency as it is also known) is the practice of real estate brokers (and their agents) in the United States and Canada representing a buyer in a real estate transaction rather franchise has proven it saves money for home buyers, but also that the Commission did not know how to read its own laws. The exclusive buyer brokerage victory came after a Commission investigation of The Buyer's Agent franchise owner Kenneth Snider of Woodward, Oklahoma The City of Woodward, Oklahoma serves as the county seat of Woodward County, OklahomaGR6. The population was 11,853 at the 2000 census. Geography Woodward is located at (36.433059, -99. . The Commission claimed that advertising material, published by The Buyer's Agent, Inc., was false and misleading because it stated the franchise offices "saved buyers thousands of dollars" and because it contained this warning: "Beware be·ware v. be·wared, be·war·ing, be·wares v.tr. To be on guard against; be cautious of: "Beware the ides of March" Shakespeare. v. of any agent who mentions the words 'dual agent,' 'assigned agent,' 'contract broker,' 'facilitator,' 'transaction broker,' or 'designated agent.' These are all methods of conducting real estate transactions which give the buyer less than full representation." The Commission determined that the statement was false and misleading "on its face" and fined Snider $200. Mr. Snider, with the support of The Buyer's Agent, Inc., appealed the Commission's decision. Both the District Court and the Civil Court of Appeals held in favor of the Commission. The Oklahoma Supreme Court reversed the lower courts, admonished the Commission, and found The Buyer's Agent had adequately proven -- with signed consumer affidavits -- that its service had saved homebuyers thousands of dollars. The high court also found "...that the statement in the booklet for which the appellant A person who, dissatisfied with the judgment rendered in a lawsuit decided in a lower court or the findings from a proceeding before an Administrative Agency, asks a superior court to review the decision. was sanctioned is neither false nor misleading. Sellers' agents and dual agents do not and cannot by law give a buyer the same degree of loyalty as an agent who acts on behalf of a buyer. .. A buyer who relies on the seller's agent or on dual agency does not receive the same degree of legal protection as that afforded by an agent acting solely on behalf of the buyer. Accordingly, we find that the order of the Oklahoma Real Estate Commission is clearly erroneous erroneous adj. 1) in error, wrong. 2) not according to established law, particularly in a legal decision or court ruling. , contrary to its own rule, and without evidentiary ev·i·den·tia·ry adj. Law 1. Of evidence; evidential. 2. For the presentation or determination of evidence: an evidentiary hearing. Adj. 1. support and must be set aside." The company's president, Tom Hathaway, proclaimed pro·claim tr.v. pro·claimed, pro·claim·ing, pro·claims 1. To announce officially and publicly; declare. See Synonyms at announce. 2. the ruling "important for consumers and for all exclusive buyer agents." "This validates the concept of agency representation at a time when the industry is trying to minimize and eliminate that concept all together." |
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