Agency
Under New York law, when a buyer's agent submits an offer on behalf of the buyer, the agent must disclose their agency relationship to:
AOnly the buyer
BBoth the seller and the seller's agent, to ensure transparency about who each agent represents✓ Correct
CThe DOS within 24 hours
DThe title company
Explanation
When a buyer's agent submits an offer, they should disclose to the seller (or seller's agent) that they represent the buyer. This is required by New York RPL section 443, which mandates agency disclosure to both parties in a transaction.
Related New York Agency Questions
- Under New York's RPL section 443, what must the agency disclosure form contain?
- Under New York law, a dual agent owes which of the following duties to BOTH the buyer and seller?
- Which type of agency is created without a formal written agreement but arises from the conduct of the parties?
- In New York, the agency disclosure form must be provided to a buyer or seller:
- In New York, a seller's agent learns the seller intends to sell only to buyers of a specific religion. The agent should:
- A subagent in a real estate transaction owes fiduciary duties to:
- A buyer's agent discovers that the seller's listed price is significantly below the property's market value. The buyer's agent should:
- A New York seller's agent who discovers mid-transaction that the buyer has been misrepresenting their financial qualifications should:
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