Agency
When a North Dakota buyer makes an offer on a property listed by their own buyer's agent's brokerage, the brokerage has a potential:
ACriminal liability issue
BDual agency or designated agency situation that requires proper disclosure and consent✓ Correct
CObligation to withdraw the listing
DRight to increase their commission
Explanation
When a buyer represented by one agent in a brokerage makes an offer on a property listed by another agent in the same brokerage, an in-house dual agency or designated agency situation arises. Both clients must be disclosed to and consent to the arrangement.
Related North Dakota Agency Questions
- Which of the following illustrates the duty of 'accounting' owed by a North Dakota real estate agent to their client?
- In North Dakota, a buyer's broker who is paid by the listing broker through a commission split is:
- In North Dakota, an agent who represents a corporation purchasing real estate owes fiduciary duties to:
- Implied agency can be created when:
- Which of the following is a non-waivable duty owed by all North Dakota licensees regardless of agency relationship?
- A North Dakota agent's duty of 'accounting' in a fiduciary relationship means:
- Sub-agency occurs when:
- A North Dakota buyer's broker receives a request from the seller to identify their buyer's source of funds. The buyer's broker should:
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