Conflicts of Interest
It is intriguing that the Sheridans plan to continue representing Irvine city employees in real estate transactions when it was not too long ago that they both admitted to me, when I was a realtor also with Remax, that the reason that they had worked in an extremely well known real estate firm in Newport Beach was because of the possibility of conflicts of interest.
It is also very interesting to note that the Sheridans admit to being “commonly the listing agents for property sales in these transactions, which entitled them to a small percentage of the sale price.”
Most real estate companies share the brokerage fee 50-50, unless the listing agency agrees to take a lower amount than is provided to the cooperating agency. Let us not open the books and expose to the public all the tricks of the trade in transferring real estate, but let us examine in great detail the potential of the conflicts of interest. Herein lies the rub!
ALAN BEEL
Irvine
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