Agency
In Michigan, a real estate licensee who represents a buyer in a for-sale-by-owner (FSBO) transaction:
ACannot receive compensation since there is no listing broker
BCan negotiate a commission directly with the FSBO seller✓ Correct
CAutomatically becomes the seller's agent as well
DMust have the seller sign a listing agreement first
Explanation
A buyer's agent in a FSBO transaction can negotiate compensation directly with the seller. The buyer's agency agreement should address who pays the agent's commission if the seller does not offer cooperation.
Related Michigan Agency Questions
- In Michigan, an agent representing a seller should NOT share which information with a buyer?
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- Michigan law requires that a licensee disclose their agency status to a consumer:
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- When does a buyer's agency agreement typically terminate in Michigan?
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