Agency
When a listing agent represents both the seller and buyer (dual agency), the agent:
AMust represent the seller's interests first
BMust obtain informed written consent from both parties before proceeding✓ Correct
CMay negotiate on behalf of both parties equally
DHas no duty to disclose the dual relationship
Explanation
Dual agency requires the informed written consent of both the buyer and seller before it can proceed. Both parties must understand and agree to the limitations of dual representation.
Related North Dakota Agency Questions
- Under North Dakota's agency disclosure requirements, the agency disclosure form is NOT required when:
- A North Dakota buyer's agent has a fiduciary duty of 'confidentiality' that requires them to:
- A seller's agent who tells a buyer 'this is a great time to buy, you need to move fast' may be:
- A North Dakota licensee acting as a transaction coordinator (facilitator) for both buyer and seller owes which duties to both parties?
- Designated agency in North Dakota allows:
- If a North Dakota licensee inadvertently creates an agency relationship through their actions, this is known as:
- Implied agency can be created when:
- In North Dakota, which of the following is considered 'ministerial acts' that a licensee may perform for a party they do not represent?
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