Agency
What is 'informed consent' to dual agency and why is it required in Hawaii?
AA. The client's consent to allow the agent to share their private information with the other party
BB. Written consent from both buyer and seller after receiving full disclosure of what dual agency means, including its limitations on the agent's ability to advocate for either party✓ Correct
CC. The broker's consent to allow two agents in the firm to work on the same transaction
DD. The Real Estate Commission's approval for a specific dual agency transaction
Explanation
Informed consent to dual agency requires the agent to fully explain what dual agency means: reduced advocacy for each party, limitations on confidentiality, and the agent's inability to fully represent either side. Both buyer and seller must provide written consent after receiving this explanation. Without informed consent, dual agency is improper.
Related Hawaii Agency Questions
- Which of the following is a material fact that a Hawaii listing agent must disclose to buyers?
- In Hawaii, an 'exclusive agency' listing differs from an 'exclusive right to sell' listing because:
- A Hawaii real estate agent who fails to disclose a known material defect in a property they are listing may be liable for:
- In Hawaii, what is the term for a licensee who works with a buyer without entering into a formal buyer representation agreement?
- 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:
- In Hawaii, an agency relationship is terminated in all of the following ways EXCEPT:
- A Hawaii listing agent's market knowledge allows them to help the seller price the property correctly. This is part of which fiduciary duty?
- An agent who acts beyond the scope of authority granted by the principal has committed:
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