Agency
In Mississippi, when a licensee represents both the buyer and the seller in the same transaction, this relationship is called:
ASubagency
BDesignated agency
CDual agency✓ Correct
DTransactional brokerage
Explanation
Dual agency occurs when a single licensee or brokerage represents both buyer and seller in the same transaction. Mississippi law requires written consent from all parties before a dual agency relationship may proceed.
Related Mississippi Agency Questions
- In Mississippi, the agency relationship created by a listing agreement is best described as:
- Under Mississippi law, the duty of accounting requires an agent to:
- When does an agency relationship typically terminate in Mississippi real estate?
- A Mississippi real estate agent who represents the seller tells the buyer that the roof is in good condition when the agent knows it has significant leaks. This is an example of:
- A Mississippi seller fires their listing agent before the listing agreement expires, without cause. The seller may be:
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- An agent who represents neither the buyer nor the seller but helps both parties complete a transaction is called a:
- In Mississippi, a transaction broker (non-agent facilitator) owes the parties to the transaction:
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