Agency
A Connecticut dual agent represents both the buyer and the seller in the same transaction. Regarding price negotiation, the dual agent:
AMay share the seller's minimum price with the buyer to facilitate a quick sale
BShould negotiate aggressively for both sides simultaneously
CCannot advocate fully for either party on price or terms and must remain neutral✓ Correct
DMust refer one party to another agent to avoid a conflict
Explanation
In a dual agency, the agent cannot fully advocate for either party on negotiation of price or terms. The dual agent must remain neutral.
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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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