Agency
A real estate agent who represents both the buyer and seller in the same transaction in Iowa is called a:
ATransactional agent
BDual agent✓ Correct
CFacilitator
DNeutral party
Explanation
When a single agent or brokerage represents both parties in the same transaction, this is dual agency in Iowa. Dual agency requires informed written consent from both parties.
Related Iowa Agency Questions
- An agent who takes advantage of a client's inexperience to negotiate a personal benefit in a transaction violates which duty?
- Under Iowa agency disclosure requirements, a real estate licensee must disclose their agency status to all parties:
- Iowa law requires that a dual agency disclosure be:
- In Iowa, if a buyer's offer is rejected by the seller, the seller's agent must:
- An Iowa broker learns of a material fact about a property during the listing appointment. The broker's duty to disclose this to a buyer applies:
- Iowa's broker who supervises a salesperson is held responsible for the salesperson's actions performed:
- Under Iowa law, which of the following is NOT a material fact that must be disclosed?
- Which of the following would NOT terminate an Iowa listing agreement?
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