Agency
In New York, a seller's agent who assists the buyer in filling out their mortgage application without disclosure of their dual role is potentially:
AProviding excellent customer service
BViolating their fiduciary duty to the seller and potentially engaging in unauthorized dual representation✓ Correct
CActing as a buyer's agent
DFulfilling a required disclosure
Explanation
A seller's agent who assists the buyer with their mortgage application may be taking on the role of the buyer's representative without proper disclosure or authorization. This could constitute undisclosed dual agency and a breach of fiduciary duty to the seller.
Related New York Agency Questions
- In New York, the agency disclosure form must be provided to a buyer or seller:
- In New York, the 'procuring cause' dispute between two cooperating brokers is typically resolved by:
- A New York buyer's agent who represents a buyer offering on a listing where the agent's own brokerage has the listing must ensure:
- In New York, 'informed consent' to a dual agency arrangement must be obtained:
- 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:
- Under New York law, a broker's fiduciary duty of 'accounting' to a principal means:
- A New York buyer's agent owes which of the following duties to the buyer-client?
- What is 'apparent authority' in agency law?
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