State officials will investigate short sale practices in Northern Nevada after a report from the Reno Gazette-Journal showed some real estate agents making multiple commissions.
The Nevada Department of Business and Industry announced the formation of a team that will look into dual agency, a practice where the agent or entity represents the buyer and seller, thus collecting multiple commissions.
The Gazette-Journal investigation showed that 10 percent of home sales in Washoe County and parts of Northern Nevada last year were done using the dual agency method, which meant some real estate entities collected two to four commissions on a single property.
These practices are not illegal in the state of Nevada, but it does raise ethical questions.
Copyright 2015 KNPR-FM. To see more, visit http://www.knpr.org/. 9(MDA0NjY4NzQ2MDEyOTc4NzIzMThmMjJkMg001))