In Texas, not surprisingly, the same real estate brokerage can represent both the seller and the buyer. According to an attorney regularly hired by the insurance companies for real estate firms, an intermediary broker owes no fiduciary duty at all to either the buyer or the seller. So, stop a minute and think about that: the broker has no fiduciary relationship with either the buyer or the seller, but she does get to have the whole commission from the sale of the home. Sounds good for the real estate agents, not good at all for consumers.
In other words, the real estate firm gets to maximize its recovery and eliminate its liability. What a deal. Only in Texas where "bidness" is king.