Agency
In North Dakota, dual agency occurs when:
ATwo agents from the same brokerage each represent one party
BA single agent represents both the buyer and seller in the same transaction✓ Correct
CA broker supervises two agents on different transactions
DAn agent represents two buyers competing for the same property
Explanation
Dual agency occurs when a single licensee represents both the buyer and the seller in the same transaction. It requires informed written consent from both parties.
Related North Dakota Agency Questions
- Under North Dakota law, a seller's agent who learns the buyer has pre-approval for much more than the asking price should:
- A North Dakota listing agent discovers the seller has a serious health issue requiring a quick sale. The agent should:
- A North Dakota buyer's broker receives a referral from a friend who is not a licensed agent. The broker may pay this friend:
- In North Dakota, an agent who represents a corporation purchasing real estate owes fiduciary duties to:
- A North Dakota listing agent learns that the seller's home has a structural defect. The seller instructs the agent to not disclose it. The agent should:
- Under North Dakota's agency disclosure requirements, the agency disclosure form is NOT required when:
- In North Dakota, a seller's agent must disclose their agency relationship to a buyer:
- A North Dakota buyer's agent who discovers the subject property has a wet basement during a showing must:
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