Agency
Under Iowa law, which of the following is a disclosed dual agency situation?
AA buyer's agent who also works as a listing agent in a different transaction
BA listing agent who represents the seller while an agent from the same brokerage represents the buyer in the same transaction, with consent of both parties✓ Correct
CA property manager who manages properties for multiple owners
DAn agent who represents a client in both a purchase and a sale simultaneously
Explanation
In Iowa, when a licensee from the listing brokerage and another licensee from the same brokerage represent the buyer and seller respectively in the same transaction, disclosed dual agency exists. Both parties must provide written informed consent to this arrangement.
Related Iowa Agency Questions
- In Iowa, if a buyer's offer is rejected by the seller, the seller's agent must:
- In Iowa, a transaction broker:
- The Iowa seller's disclosure form must be provided to the buyer:
- The fiduciary duty of 'obedience' requires a licensee to:
- In Iowa, an implied agency relationship with a buyer can be created when:
- In Iowa, a buyer's agent who learns the buyer's maximum budget should:
- An Iowa agent who discloses a buyer's motivation (that the buyer must buy quickly due to a job transfer) to the seller's agent is:
- Under Iowa law, an agent may act as a dual agent representing both the buyer and seller if:
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