Agency
What best describes 'subagency' in the context of Michigan real estate?
AAn agent working under a team leader in the same office
BAn agent from another firm who represents the seller by cooperating with the listing broker✓ Correct
CAn unlicensed assistant helping a licensed agent
DA broker who hires a salesperson
Explanation
Subagency occurs when a cooperating broker and their agents represent the seller (through the listing broker's agency) rather than the buyer. Subagency has largely been replaced by buyer agency in Michigan.
Related Michigan Agency Questions
- A Michigan seller's agent is obligated to present all offers to the seller:
- The duty of disclosure to a client in Michigan requires an agent to disclose:
- When must a Michigan licensee provide the agency disclosure form to a buyer customer?
- An agent who has no agency relationship with either party but assists in completing a transaction is acting as a:
- In Michigan, when does an agency relationship most commonly begin between a buyer and a real estate agent?
- In Michigan, a 'procuring cause' determination is important because it determines:
- In Michigan, an agent who tells a prospective buyer 'this is the best deal you'll ever find' without verifying specific facts is engaging in:
- In Michigan, 'implied agency' arises when:
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