Agency
What is 'dual agency' in a California real estate transaction?
AWhen two brokers both represent the seller
BWhen one broker represents both the buyer and the seller in the same transaction✓ Correct
CWhen a broker represents a buyer in purchasing two properties simultaneously
DWhen a listing agent works with two different sellers on competing properties
Explanation
Dual agency occurs when the same broker (and their licensees) represents both buyer and seller in the same transaction. It creates a conflict of interest and must be disclosed to and consented to by both parties in writing before the offer is accepted.
Related California Agency Questions
- A listing agent tells potential buyers that the seller 'is highly motivated and needs to sell quickly.' This statement is:
- When does a California agency relationship typically terminate in a residential sale?
- A buyer's agent shows a buyer a property listed by her own broker. If neither agent is designated, this creates:
- What is a 'safety clause' (protection clause) in a listing agreement?
- What is meant by the agent's duty of 'accounting'?
- A subagent represents:
- A real estate agent who represents both the buyer and the seller in the same transaction is called a:
- A real estate agent must disclose their agency relationship to all parties:
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