Agency
A Pennsylvania licensee who is approached by a prospective client who already has signed a buyer representation agreement with another agent should:
ABegin representing the buyer since they approached the new agent voluntarily
BAdvise the prospect they appear to already be represented and explain the potential conflict✓ Correct
CAccept the representation and notify PREC
DProceed if the previous agent's representation agreement has expired
Explanation
A Pennsylvania licensee approached by someone who appears to have a representation agreement with another agent should advise the prospect of this potential conflict. Interfering with or attempting to disrupt an existing agency relationship raises ethical and legal concerns under both RELRA and the NAR Code of Ethics.
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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.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
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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