Agency
What is a 'consensual dual agency' in Delaware?
ADual agency that occurs automatically without consent
BA dual agency relationship where both buyer and seller have given their informed written consent✓ Correct
CAn agency involving two buyers and one seller
DA dual agency for multi-family properties only
Explanation
Consensual dual agency is a lawful dual agency arrangement in Delaware where both the buyer and seller have provided informed written consent after full disclosure of the nature and limitations of the dual agency relationship.
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Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same 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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