Regal Properties now handles leasing for the community shopping center known as South Bay Plaza in National City, California. The center is anchored by Smart & Final, O’Reilly Auto Parts and Chase Bank, and includes Carl’s Jr., Papa John’s and many other restaurant and shop tenants on highly-trafficked Plaza Boulevard. Contact us for information about available retail space.
California law has long required residential real estate brokers, representing both the buyer and seller in a single transaction, to obtain each client’s written consent for that “dual agency” relationship. The purpose of this requirement is to inform buyers and sellers about the potential conflicts of interest that may arise as a result of the dual agency relationship, and to compel agents to memorialize in writing the each client’s informed decision to proceed with the transaction anyway.
Under new laws effective as of January 1, 2015, these same rules now apply to commercial real estate agents and brokerages, for both sales and leasing. These new laws also prohibit dual agents in commercial transactions from disclosing certain information about the ultimate price the seller is willing to accept and the buyer is willing to pay, as well as other confidential information received from either client.