Agency
A Nebraska buyer's agent is also the listing agent on the same property (solo dual agent). They should:
AProceed without disclosure to avoid confusion
BDisclose the dual agency, obtain written consent, and provide limited representation to both parties✓ Correct
CRepresent only the seller and refer the buyer to another agent
DWithdraw from the transaction completely
Explanation
A solo dual agent must disclose the dual agency in writing and obtain informed consent from both parties. The agent then provides limited (not full fiduciary) representation to each party, unable to advocate for either exclusively.
People Also Study
Related Nebraska Questions
- Nebraska requires informed written consent for a dual agency arrangement because:Agency
- In Nebraska, 'informed consent' to dual agency requires:Agency
- In Nebraska, an agent must disclose their agency relationship to other parties in a transaction:Agency
- A Nebraska buyer's agent who assists their buyer in writing a strong offer for a property listed by the same agency should:Agency
- Nebraska law requires a listing agreement to be in writing primarily to:Nebraska License Law
- A Nebraska purchase agreement provides for attorney review within 3 days. If neither party's attorney objects within 3 days:Contracts
- At a Nebraska closing, which party typically provides the survey of the property?Escrow & Title
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.
Buyer's AgentA real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
Seller's Agent (Listing Agent)A real estate licensee who represents the seller's interests, markets the property, and owes fiduciary duties to the seller.
Study This Topic
Practice More Nebraska Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Nebraska Quiz →