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Updated over 6 years ago,
Broker responsibility when buying investment home for self?
I am a licensed real estate broker in WA and starting to look for a rental for myself - unlisted properties that someone might want/have to unload. I know I have to disclose that I am a broker. To get a 'deal' it has to be someone who does not want to list the property and wants it gone now - but I know the seller would net more if they sold it on the open market. Any advice from other brokers on this? Not my intent to deceive anyone - they have already told me they do not want to list. Do you have them sign an acknowledgement that there is an option of listing on the open market?
Probably a question for my broker but wanted to see what other active brokers who are buying properties for themselves are doing to address this potential liability?