Agency
Maryland's 'intra-company agent' designation allows:
AOne licensee to represent both buyer and seller fully
BDifferent licensees in the same firm to represent buyer and seller separately✓ Correct
CThe broker to personally represent both parties
DBuyers to represent themselves
Explanation
Maryland's intra-company agent (designated agent) arrangement allows the broker to designate separate licensees within the same company to exclusively represent the buyer and the seller, reducing dual agency conflicts.
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- Under Maryland law, which type of agency relationship allows one licensee to represent both buyer and seller in the same transaction with written consent?Agency
- In a Maryland dual agency arrangement, the agent must obtain written consent from:Agency
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- A Maryland real estate firm where one agent listed a property and another showed the same property to a buyer they represent — without in-house agency disclosure — may have violated:Agency (alternative)
Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
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