Agency
A single broker represents both the buyer and seller in the same transaction in Oklahoma. This is known as:
ASubagency
BDesignated agency
CDual agency✓ Correct
DTransactional brokerage
Explanation
When a single broker represents both the buyer and the seller in the same transaction, this is dual agency. In Oklahoma, dual agency must be disclosed and consented to in writing by both parties.
Related Oklahoma Agency Questions
- In an Oklahoma designated agency arrangement, the broker:
- Under Oklahoma brokerage law, the duty of 'accounting' requires a real estate agent to:
- Oklahoma's real estate license law imposes a duty of accounting on licensees. This means the licensee must:
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- In Oklahoma, which of the following would terminate an agency relationship automatically?
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- An Oklahoma buyer's agent learns that her client plans to offer significantly below asking price because the client is a cash buyer and can close in 14 days. Regarding the seller, the agent should:
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