Agency
Under New York law, 'dual agency' exists when:
ATwo brokers cooperate on a single transaction
BA broker represents both the buyer and the seller in the same transaction✓ Correct
CA salesperson works for two different brokers simultaneously
DA broker lists a property and also manages it
Explanation
Dual agency in New York occurs when one broker (or brokerage) represents both the buyer and the seller in the same transaction. It is legal only with the informed written consent of both parties and requires disclosure under RPL § 443.
Related New York Agency Questions
- In New York, a broker serving as a 'facilitator' in a transaction between two unrepresented parties must:
- Which of the following statements about a buyer's agent in New York is TRUE?
- In New York, 'transaction brokerage' (non-agency facilitation) is:
- In New York, a licensee representing a buyer must advise the buyer to obtain a home inspection because:
- What is 'apparent authority' in agency law?
- Under New York law, a dual agent owes which of the following duties to BOTH the buyer and seller?
- In New York, a seller's agent who knows that the seller owes more on the property than the listing price should:
- In New York, which of the following would constitute a breach of the agent's duty of 'confidentiality' to their buyer-client?
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 →