Agency
In New York, a listing broker is showing their own company's listing to a buyer who is also represented by an agent in the same office. The brokerage is acting as:
AA subagent
BA dual agent (unless designated agency is used)✓ Correct
CA buyer's agent only
DA seller's agent only
Explanation
When the same brokerage represents both the buyer and the seller in the same transaction, the firm is acting as a dual agent. New York permits this with informed written consent, or the firm can use designated agency to avoid full dual agency.
Related New York Agency Questions
- In New York, the agency disclosure form must be provided to a buyer or seller:
- In New York, a buyer's agent who does not disclose to the seller that their buyer client is in financial difficulty is:
- In New York, a seller's listing agreement that contains an 'automatic renewal' clause may be challenged because:
- In New York, a buyer's agent who is asked by their client to make an all-cash offer and not disclose the client's identity to the seller may:
- A subagent in a real estate transaction owes fiduciary duties to:
- The duty of 'disclosure' requires an agent to disclose to their client:
- If a seller's agent knows the seller is in financial distress and must sell quickly, the agent should:
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