Agency
In New York, a real estate agent who is also a licensed attorney acting as counsel for a party in the same transaction must:
ACharge only the real estate commission
BEnsure all parties are informed of their dual role to avoid conflicts of interest✓ Correct
CAutomatically become a dual agent
DSurrender their real estate license for the duration of the transaction
Explanation
When a licensee is also an attorney and acts in both capacities in the same transaction, they must fully disclose their dual role to all parties to avoid conflicts of interest and comply with both bar association rules and real estate license law.
Related New York Agency Questions
- In New York, a real estate agent who 'cherry-picks' only the best listings for their personal clients while hiding others would violate the duty of:
- In New York, a broker's duty of 'disclosure' to a buyer-client requires the agent to:
- In New York, a broker who receives an offer on a listed property that the seller may want to accept must communicate the offer to the seller:
- In New York, when a buyer's agent submits an offer, their primary obligation is to:
- In New York, when a listing agent shows their own listing to a buyer, the agent typically becomes a:
- In New York, a real estate broker's 'procuring cause' of a sale means:
- In New York, which of the following best describes the duty of 'obedience' in a fiduciary relationship?
- An exclusive agency listing in New York differs from an exclusive right-to-sell listing in that:
Practice More New York Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New York Quiz →