Double running

Question 1

What does double running refer to?

Answer 1

The practice of acting for multiple parties (investment agency common)

Question 2

What does the RICS Real Estate Agency and Brokerage Standards 2014 recommend that firms have in place?

Answer 2

An introductions policy (to ensure agents clear how any introduction will be treated)

and

Barrier policy (to deal with potential conflicts)

Question 3

What should the default position be?

Answer 3

An agent retained to sell a property should avoid acting for another client in the purchase unless exceptional circumstances agreed by both clients.