When I have a duplex listed for sale, I am sometimes asked why the owner is selling.
I love to provide answers when people have questions, but that’s one I actually can’t answer.
It isn’t that I don’t know. It’s that the law won’t allow me to.
When a duplex seller signs a listing agreement with a Realtor, that agent has certain fiduciary duties to him or her.
Perhaps the most important one is to act in their best interests at all times.
Disclosing with the public that sellers reason for selling might adversely impact their ability to get the most money they can for their property.
For example, if you called me about a duplex I have listed, and I told you they were getting a divorce, would you offer them full price?
Most likely, you would think they’d take less, just to get out of a difficult emotional situation.
And in that instance, I would have cost my seller money.