Agency
Under Delaware law, a broker who represents both buyer and seller in the same transaction as a dual agent must:
ARepresent both parties equally and advocate for both
BObtain informed written consent from both parties before acting✓ Correct
CDisclose the dual agency only to the buyer
DWithdraw from representing either party immediately
Explanation
Delaware requires informed written consent from both the buyer and seller before a broker may act as a dual agent. Without this consent, dual agency is prohibited.
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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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