Agency
A subagency relationship in Connecticut means that:
AThe subagent represents the buyer in all matters
BThe subagent owes fiduciary duties to the listing broker's principal (the seller)✓ Correct
CThe subagent is unlicensed but works under a licensed broker
DThe subagent is hired by the buyer to find properties
Explanation
In a subagency arrangement, a cooperating broker acts as a subagent of the listing broker and owes fiduciary duties to the seller (the listing broker's principal), not to the buyer.
Related Connecticut Agency Questions
- A Connecticut listing agent who receives a low offer on a property listed at $450,000 must:
- A Connecticut buyer's agent discovers that a house the buyer is interested in has received multiple offers. The agent's duty is to:
- Which of the following is an example of an agent's breach of the duty of obedience in Connecticut?
- Dual agency in Connecticut occurs when:
- A Connecticut listing agent represents the seller and notices that a buyer submitting an offer has a buyer's agent. The listing agent's duties to the buyer (unrepresented by the listing agent) include:
- A Connecticut buyer's agent helps their client during a transaction that ultimately falls through due to the seller's default. The buyer's agent's commission:
- A Connecticut listing agent learns that the buyers are pre-approved for $650,000 but are offering $590,000. This information was shared by the buyer's own agent in conversation. The listing agent should:
- If a seller instructs their Connecticut agent to keep the listing price confidential and not post it publicly, the agent must:
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