Agency
Under Alabama agency law, a 'limited consensual dual agent' may represent:
AOnly the seller in a transaction
BOnly the buyer in a transaction
CBoth the buyer and seller in the same transaction with written consent✓ Correct
DNeither party — this arrangement is prohibited
Explanation
Alabama permits limited consensual dual agency, where one broker represents both the buyer and seller in the same transaction, provided both parties give written informed consent. The agent cannot share confidential information from either party.
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Key Terms to Know
Dual Agency
A situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
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