Agency
What is 'in-house transaction' or 'office exclusivity' in Hawaiian real estate brokerage?
AA. A transaction where no escrow company is used
BB. A transaction where the listing agent and buyer's agent are both affiliated with the same brokerage, requiring careful management of agency relationships✓ Correct
CC. A sale closed without MLS involvement
DD. A transaction handled exclusively by the broker without any salesperson involvement
Explanation
An in-house transaction occurs when both the listing agent and buyer's agent are affiliated with the same brokerage. This creates a potential dual agency situation that requires careful handling, including disclosure and consent from both parties. Designated agency (assigning different agents to each party) is one way to manage this.
Related Hawaii Agency Questions
- In a Hawaii in-house transaction where both buyer and seller are clients of the same brokerage, the brokerage must obtain:
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