Agency
A Florida buyer contacts a listing agent directly to make an offer without using a buyer's agent. The listing agent may help the buyer as:
AThe buyer's agent if the buyer signs a buyer representation agreement
BA transaction broker for both parties (with proper disclosure)✓ Correct
CA dual agent representing both parties in a fiduciary capacity
DA neutral facilitator with no duties to either party
Explanation
When a listing agent assists a buyer directly, they can transition to or operate as a transaction broker for both parties. This requires proper disclosure to both the seller and buyer.
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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.
Buyer's AgentA real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
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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