Agency
In Oklahoma, a real estate agent may represent a buyer and also act as the selling agent for a builder's new development if:
AThis is always prohibited as it creates an automatic conflict of interest
BFull disclosure is made to the buyer and informed written consent is obtained for the dual/designated agency arrangement, and the buyer understands the agent's role✓ Correct
CThe builder pays more than the buyer's agent
DThe agent works in two separate brokerages simultaneously
Explanation
Representing a buyer in a new construction purchase where the agent also has a relationship with the builder (e.g.
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Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Buyer's AgentA real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
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