Agency
When a Georgia broker acts as a dual agent in a transaction, the broker must:
AA. Represent the seller's interests exclusively
BB. Obtain informed written consent from both buyer and seller✓ Correct
CC. Reduce their commission to compensate for the conflict
DD. Assign the buyer to another agent automatically
Explanation
Dual agency in Georgia requires informed written consent from both parties. Without consent, dual agency is a breach of fiduciary duty.
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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.
Buyer's AgentA real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
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