Agency
In a Hawaii in-house transaction where both buyer and seller are clients of the same brokerage, the brokerage must obtain:
AOnly verbal consent from both parties
BWritten informed consent from both parties before proceeding as a dual agent or before designating separate agents✓ Correct
CApproval from the MLS
DPermission from the Real Estate Commission
Explanation
Dual agency requires informed written consent from both the buyer and seller. The disclosure must explain the limitations of representation in a dual agency relationship.
Related Hawaii Agency Questions
- In Hawaii, an agent who guarantees a specific sales price to a seller is:
- Dual agency in Hawaii is BEST described as:
- In Hawaii, which of the following best describes 'ostensible agency'?
- When a Hawaii buyer's agent presents an offer to a seller, the buyer's agent must:
- In Hawaii, who is legally responsible for paying a real estate agent's commission in a standard transaction?
- A Hawaii listing agent represents a seller and a buyer's agent represents the buyer. The listing agent learns the property has underground oil tanks that the seller did not disclose. What should the listing agent do?
- In Hawaii, an agency relationship is terminated in all of the following ways EXCEPT:
- In a Hawaii transaction, the listing broker agrees to pay a portion of the commission to a cooperating buyer's broker. This arrangement is called:
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