Agency
In Montana, a real estate broker who operates under multiple agency relationships within the same firm (representing both buyers and sellers) must have written company policies addressing:
AHow to increase commission revenue through multiple representations
BProcedures for managing conflicts of interest, confidentiality, and client consent in in-house (dual agency) transactions✓ Correct
CThe minimum number of listings the firm must maintain
DHow to market properties to both buyers and sellers simultaneously
Explanation
Montana brokerage firms practicing dual agency within the same office must have written policies addressing how they identify and manage conflicts of interest, protect client confidentiality through information barriers, and obtain informed written consent from both parties in in-house transactions.
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Key Terms to Know
Dual Agency
A situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
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.
Math Concepts
State-Specific Concepts
DRE Regulation
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