Is it a Conflict of Interest if a Condo Association (HOA) Board Member is Also a Realtor Representing People in the Complex?
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Summary
Have any laws been broken when a condo association board member is also a realtor representing sellers in that complex, and having those units that are for sale (specifically those units represented by this person) reshingled etc. before other units in the complex which were ahead on the list? |
“Have any laws been broken when a condo association board member is also a realtor representing sellers in that complex, and having those units that are for sale (specifically those units represented by this person) reshingled etc. before other units in the complex which were ahead on the list? Making these units that are represented by the board member more attractive to potential buyers at the expense of the residents (an assessment) is resulting in this board member profiting (real estate commission) from this person’s own influence.”
Good question. I’m not sure of the answer, but the board that licenses real estate agents in your state may be able to tell you–and might be interested in pursuing the matter themselves if there is a violation.
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For more on this subject check out these categories: Homeowners HOA, Property, Real Estate
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State laws vary, and the above is intended as general advice, and not direct legal advice regarding any one particular situation in any one state. For direct personal legal advice related to your own situation you should consult an attorney familiar with the laws of your state and with your situation.