Agency
Under Delaware agency law, a licensee who represents neither buyer nor seller but facilitates the transaction is known as a:
ASubagent
BDual agent
CTransaction broker✓ Correct
DFacilitator
Explanation
Delaware recognizes the transaction broker (also called a facilitator) as a licensee who assists parties to a transaction without representing either party as an agent.
Related Delaware Agency Questions
- In Delaware, a buyer's agent owes the buyer the fiduciary duty of obedience. This means the agent must:
- When must a Delaware licensee disclose their agency relationship to the other party in a transaction?
- Which fiduciary duty obligates an agent to promptly deliver all offers and information relevant to the transaction?
- The procuring cause of a sale determines who is entitled to:
- In Delaware, when does an agency relationship with a buyer most commonly begin?
- A Delaware buyer's agent shows a property that is listed by the same brokerage. This creates what type of agency?
- In a designated agency arrangement in Delaware, two licensees from the same firm each represent one party. The broker:
- What is 'estoppel' as it applies to Delaware real estate agency?
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