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Dual-Agency Practice Has Lawmaker Attention

LAW: Real Estate Brokers Are Marshaling Opposition

By Lou Hirsh

Industry opposition is likely to be huge, but Jason Hughes is pushing for California to go a step further when it comes to dealing with the practice of brokers representing both landlords and tenants in the same real estate deal — by banning it altogether.

The CEO of San Diego’s Hughes Marino Inc., a tenant-focused commercial real estate services firm, was among the backers who helped craft legislation recently introduced by Assemblywoman Lorena Gonzalez Fletcher, D-San Diego, seeking to ban the practice known as dual-agency representation.

Assembly Bill 1059 was recently referred to the Assembly’s judiciary committee, but as of press time was not likely to be formally reviewed in a public hearing until January or February 2018 at the earliest.

Like most states, California has moved to require disclosures prior to deal closings that a broker represents both sides, but has not banned the practice outright.

You can read the full article here, or by visiting the San Diego Business Journal webpage.

Jason Hughes is chairman, CEO, and owner of Hughes Marino, an award-winning commercial real estate company with offices across the nation. A pioneer in the field of tenant representation, Jason has exclusively represented tenants and buyers for more than 25 years. He writes about topics in commercial real estate from a tenant’s perspective on his blog, Downtown Dirt. Contact Jason at 1-844-662-6635 or jason@hughesmarino.com to learn more.

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