Which of the following best describes a 'dual agent' in California?
Why An agent who represents both buyer and seller in the same transaction Is Correct
Answer B: An agent who represents both buyer and seller in the same transaction
Exam Tip: Agency
Agency questions are among the most tested on the exam. Focus on the difference between client and customer, and memorize the fiduciary duties (OLD CAR). Watch for questions that try to blur the line between a general agent and a special agent.
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Related California Questions
- In California, when a broker represents both buyer and seller with written consent, what limitations apply to the dual agent?Agency
- In California, a listing agent who also brings the buyer and represents both parties must disclose dual agency:Agency
- Under California law, if a listing agent also represents the buyer in the same transaction without proper disclosure and consent, the listing agent has committed:Agency
- In California, a real estate agent who represents the buyer and the seller in the same transaction is known as a:Agency
Key Terms to Know
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.
State-Specific Concepts
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