Agency
In Kentucky, when a buyer's agent and listing agent discover they work for the same brokerage, they must:
AImmediately separate into two different brokerages
BConsider whether designated agency or disclosed dual agency applies and obtain necessary consents✓ Correct
CContinue without any additional disclosure
DHave one agent withdraw from the transaction
Explanation
When both the buyer's and seller's agents work for the same brokerage, the situation must be disclosed. The brokerage may handle it through designated agency (separate agents remain designated) or disclosed dual agency with written consent.
Related Kentucky Agency Questions
- A Kentucky agent's fiduciary duty requires them to act in the client's best interest rather than their own. If an agent earns a higher commission by steering a buyer to a more expensive property, the agent may be in violation of the duty of:
- Under Kentucky law, when must a licensee provide agency disclosure to a prospective buyer?
- In Kentucky, apparent authority means:
- Which of the following is NOT a fiduciary duty owed by a Kentucky buyer's agent to their client?
- The duty of 'obedience' in a Kentucky agency relationship requires the agent to:
- A listing broker in Kentucky owes which of the following duties to an unrepresented buyer?
- A Kentucky listing agent's fiduciary duty of loyalty requires the agent to place the seller's interests:
- In Kentucky, a licensee who provides 'ministerial acts' to an unrepresented party:
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